Announcement Date: 2022-10-24
Announcement Type: Deposit Estimation
Announcement Code: JORC
Company name: Demetallica Limited
Project name: Chimera
Location: Australia
Commodities: Gold,Silver,Copper
Highlight: Initial Resource Estimate for Jericho Deposit
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Demetallica Limited (Demetallica) (ASX: DRM) is pleased to report its inaugural JORC 2012 Mineral Resource estimate (MRE) for the Jericho copper-gold deposit, the cornerstone asset of the Chimera Polymetal Project. The MRE of 14.1 million tonnes with grades of 1.46% Cu, 0.29 g/t Au and 1.6 g/t Ag at 0.85% Cu cut-off delivers 62% increase in contained copper, at improved copper grade, as estimated by the independent Competent Person (iCP). The Jericho MRE is hosted within two parallel lodes, J1 and J2, approximately 120 metres apart, bounded within 2,600m and 1,800m of strike respectively (Figure 5). Copper mineralisation is typified by massive to semi-massive chalcopyrite (copper sulphide) and pyrrhotite (iron sulphide) veins and breccia zones in discrete shear zones. Jericho’s lodes are open along strike and down dip beyond the extents of the current Mineral Resource boundary. Information to support the MRE is included as Appendix 1.
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