Announcement Date: 2022-09-21
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Demetallica Limited
Project name: Chimera
Location: Australia
Commodities: Gold,Copper
Highlight: Drilling results incl. 23m at 2.21% Cu, 0.41g/t Au from 1155m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Demetallica reports results for the final 13 holes of its maiden 56 hole RC-DD drill campaign. The full data set informs the new JORC resource re-estimate, due for publication towards the end of October. The high tenor and breadth of copper-gold mineralisation encountered continues to be highly encouraging The Jericho system has proven, through some 152 drill holes across 4 drill campaigns, to be a remarkably consistent feature with J1 and J2 lodes intercepted along 3.7km of strike length and remaining open to the north, down plunge/down dip. The current and new MRE are confined to just 2.2km of strike. The current MRE is limited to 400 metres on J1 lode and 500 metres on J2 lode below ground surface. 2022 infill results confirm the continuity, grade and thickness of mineralisation within J1, with some new very high-grade zones having been identified (Figures 2-5). Similarly, 2022 extensional drilling confirms mineralisation continues at depth on both J1 and J2 lodes below the current MRE, and remains open at depth and along strike (Figures 1, 2, 4, 6).
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