The Maitland copper deposit was acquired in 2008 from Glengarry Resources Ltd, and is located approximately 50 kilometres from Kagara Ltd’s Balcooma mining operations. The Project has a combined indicated and inferred copper-molybdenum resource of 1.49 million tonnes grading 1.5% copper.
The deposit has excellent depth potential and is expected to support a significant underground operation which will supplement production from the Balcooma copper mine.
The area has only been lightly drilled, with best intersections including 30 metres at 3.9% copper in hole MTRC34 and 38 metres at 2.1% copper (including 12 metres at 6.7% copper) in hole MTRC51. It also contains high grade molybdenum which is associated with the copper mineralisation which is open down plunge and appears to increase in thickness at depth.
In addition to the Maitland deposit, the tenements acquired from Glengarry Resources include three Exploration Permits for Minerals (EPM’s) covering the strike potential plus a base metal gossan and geochemical anomaly known as T3. The T3 prospect has returned rock chip samples grading up to 11% lead and 8% zinc which occur in a similar geological setting to the Balcooma base metal deposits and will require further follow up drilling.
