Bonya, Northern Territory
Copper, lead, zinc, silver, gold, bismuth and PGE’s
- High Grade Copper Intersected in drilling:
- 38m @ 4.4%Cu
- 13m @ 5.4% Cu
- 3m @ 13.4% Cu
- Geochemical sampling identified several anomalous areas with outcropping secondary copper mineralisation
- Mineralisation style is the same as the adjacent Jervois copper deposit
- Rox holds a 51% project interest and has elected to earn up to 70% by spending a further $1.0 million by December 2017
Late in 2014 Rox discovered high grade copper mineralisation at the Bonya Mine Prospect. The drilling defined massive copper sulphide mineralisation over substantial widths and over a vertical interval of at least 100m.
Historic Mining Activities
Assessment of historic mining activities at the old Bonya Copper mine indicates the potential for depth extensions to the outcropping mineralisation, which has never been previously drill tested. Both the Bonya and the near by Jervois copper deposits (which has a current JORC Mineral Resource of 25.2Mt @ 1.1% Cu, 23.4 g/t Ag) are in an interpreted high metamorphic grade Volcanogenic Massive Sulphide (VMS) geological setting similar to other areas such as Mount Hardy in the Northern Territory and of a similar deposit type to those found in the Doolgunna district in Western Australia, which hosts Sandfire’s DeGrussa deposit. There are walk up drill targets at the old Bonya Mine prospect and Rox has identified outcropping oxide copper mineralisation grading up to 33% copper, 55 g/t silver and 0.5 g/t gold.
Agreement Structure and Commercial Terms
Under the terms of the agreement, Rox has eaned a 51% interest in the copper, lead, zinc, silver, gold, bismuth and PGE mineral rights. Arafura retains all other mineral rights over the tenement, EL29701. Rox has elected to increase its interest to 70% by expenditure of a further $1 million by December 2016. For further information on the terms of the agreement, refer to the ASX Announcement by clicking here.