Polymetals Resources Ltd (ASX:POL) is about to begin a comprehensive near-mine and regional exploration program at its Endeavor Project in central NSW for copper, gold and silver-lead-zinc mineralisation after compiling more than 50 years of historical exploration into an extensive database.
The company then leveraged that wealth of information to select nine near-mine priority exploration targets, centred initially on the Carpark prospect’s electromagnet conductor plate, where POL will begin drilling in January next year.
Near-mine exploration will focus within the 30-square-kilometre granted mining licences and regional exploration within the 1,107-square-kilometre exploration licences covering 70 kilometres of strike in the northern Cobar Superbasin.
Now that the Endeavor Mine redevelopment is well underway, the company is preparing for an active 2025 field season.
Exploration to follow cashflow
“The company has completed its compilation of the +50 years of historical exploration data,” Polymetals Resources executive chair Dave Sproule said.
“This is the first time a comprehensive database has been consolidated over the area and encompasses data from historical explorers including Metals Ex, Getty Oil, Electrolytic Zinc Australia, Newmont, Delta Gold, Pasminco, CBH Resources and Sandfire Resources.
“We are now able to begin testing the vast array of copper, gold and silver-lead-zinc targets across the portfolio.
“With cashflow imminent, Polymetals plans to ramp up its exploration activities over its entire Endeavor Project tenure.”
Apart from the nine near-mine prospects, POL also intends to fly 18 kilometres of induced polarisation survey lines in the first quarter of 2025 to identify regional opportunities for exploration.