MetalsGrove Mining Ltd (ASX:MGA) has turned its attention to the Edwards Creek Copper-Zinc Project in the Northern Territory, which the company believes is prospective for a scalable copper-zinc system.
The strategic shift in project focus comes after a site visit to MetalsGrove’s Zimbabwe Lithium Projects by MGA board members, who determined neither the Arcturas Project nor Arcadia Project had demonstrated strong enough lithium results to continue exploration.
In contrast, a site visit to Edwards Creek only strengthened the company’s confidence in its potential, validating existing collar locations and highlighting the potential of the geology present there.
Previous drilling has revealed strongly altered volcanic massive sulphide mineralisation, grading up to 4.5 metres at 2.25% copper and 1.54% zinc from 47.5 metres of depth.
Four-hole extensional program
“The Edwards Creek Project, which exhibits strongly-altered stratabound volcanic massive sulphide high-grade copper-zinc mineralisation, has the potential to host a scalable copper-zinc system,” MetalsGrove managing director and CEO Lijun Yang said.
“A proposed four-hole drill program has as its objective to test for the presence of mineralisation along strike and down dip.
“After thorough investigation, MetalsGrove has determined that the prudent course is for the company to relinquish its Zimbabwean lithium projects.”
MGA says the newly mapped gossan boundary at Edwards Creek varies slightly from the historically mapped outcrops, demonstrating strong oxidisation and 1-2% magnetite mineralisation with trace pyrite and chalcopyrite, as well as malachite staining in several locations.
The four-hole program will cover 500 vertical metres, following up high-grade historical intersections along strike to the north and down dip.
Map illustrating Edwards Creek historical drilling and drill targets.
As for its lithium projects, the company explained that with the combination of disappointing geological results, the absence of any new mineralisation leads and the weakness of the lithium market, MGA had “decided to relinquish its Zimbabwean Lithium Projects.”
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