New copper-gold-tungsten rare earth belt discovered in Queensland

According to the MiningNews.net website, analysis of the latest samples from private company Transition Resources' greenfield drilling in Queensland shows that there may be billions of tons of gold-rich mineralization in the (Highway Corridor) ore.

Because there is only a small amount of evidence, it is largely the result of modelling analysis, but drilling over a very small area over the past year illustrates this judgment.

The Haiwei Corridor is a previously unknown mineral belt, 21 kilometers long, that contains both gold and other key metals such as tungsten, cobalt, and rare earths.

The main mineralization findings of sample analysis include:

◎At a depth of 31 meters, the mine was 11 meters deep, and the gold grade was 9.58 grams/ton;

◎At a depth of 35 meters, 9 meters of ore were found, and the gold grade was 10.3 grams per ton;

◎At a depth of 76 meters, 9 meters of ore were found, and the gold grade was 10.4 grams per ton;

◎At a depth of 63 meters, the mine found 11 meters, and the gold grade was 6.92 grams per ton.

The main mineralization of tungsten shows: 22 meters of ore at a depth of 152 meters, grade 0.6%, including 8 meters thick, grade 1.6% mineralization.

While sample analysis results for other elements have not yet been completed, David Wilson, founder and CEO of Chuanshi Resources, said the grades were as high as 0.39% cobalt and 0.0746% neodymium praseodymium.

Although drilling has so far been limited to a small area and significant investment will be required to obtain resources, the company considers the discovery of the Haiwei belt to be exciting.

The company believes that this mineral belt is a real greenfield discovery in the Cronkary area, which will bring new ideas to the exploration of the area.

Because of the overlying caprock, the area has never historically been exploited, even in close proximity to existing infrastructure.

In the past year, Chuanshi has completed 22,000 meters of drilling, mostly confined to a 650-meter-long zone.

Although the discovery of gold resources provides the company with the opportunity to quickly realize capital flow through small-scale mining, Chuanshi Company is more interested in the copper and rare earth potential of the region.

In the near future, the company will start drilling the discovered rare earth deposits, and conduct diamond drilling verification for the deep geophysical target area.