Stelar Metals Ltd (ASX:SLB) shares were trading about 6% higher intra-day, at 18 cents, after lodging a 47 square kilometre Exploration Licence Application (ELA 2022/00074) with the South Australian Government covering the historical Baratta Copper Mine area, immediately adjacent to its recently granted Baratta Project EL 6803.
Baratta is considered prospective for both Zambian-style sediment-hosted copper and rare earth element (REE) mineralisation.
Regional geological setting of the Baratta Project showing major prospects.
The historical Baratta Copper Mine produced copper ore between 1896 and 1904 from a zone of workings 1.5 kilometres long on the northern limb of the Bibliando Dome.
The same structure that is interpreted to control copper mineralisation at the Baratta mine is exposed over a significant strike length in the eastern part of Stelar’s granted Baratta tenement EL 6803 and is considered prospective for copper, lead and zinc.
Stelar chief executive officer Colin Skidmore said: “Our new application over the Baratta Mine area has potential to be a significant addition to Stelar’s Baratta Project.
“In its day, the Baratta Mine was a major project that reportedly produced ~1,000 tonnes of 30% copper ore.
“Modern exploration has been limited, yet there are some great datasets available for re-processing and interpretation that we expect will generate fresh targets for future drill testing.
“Stelar looks forward to starting field work on the Baratta Project this week.”
Stelar’s exploration projects in South Australia.
The Baratta Copper Project is underlain by rocks of the Adelaide Fold Belt that share important geological characteristics with the Central African Copperbelt.
Stelar recognises the potential for Zambian-style copper mineralisation (sediment-hosted copper deposit – SHCD) as well as REE, which is also supported by the recent copper and REE discoveries made by Taruga Minerals Ltd (ASX:TAR) at Wyacca and other prospects, directly west along strike from Stelar’s tenure.
Baratta is one of five highly prospective battery metal projects the company intends to explore, committing to an aggressive exploration program in this world-class mining district.
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