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Silver City Minerals Ltd

Silver City Minerals changing line-up at IOCG-focused Broken Hill company

Snapshot

Exploration is ongoing at Copper Blow where the company aims to establish a resource.

Copper Blow project on an Australian map

Quick facts: Silver City Minerals Ltd

Price: $0.01

Market: ASX
Market Cap: $3.82 m
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• Extensive geochemical sampling program planned for Copper Blow iron oxide copper-gold (IOCG) discovery
• Ongoing resource assessment at main Copper Blow prospect
• Ground geophysical surveys, including gravity and induced polarisation, to help generate new drill targets
• Potential for toll-treating high-grade mineralisation at Broken Hill treatment plants
 

What does Silver City do?

Silver City Minerals Ltd (ASX:SCI) (FRA:AUT) specialises in exploration at the mining stronghold of Broken Hill in far west New South Wales.

It is run by outgoing managing director Chris Torrey, a geologist who has more than 35 years experience in international mineral exploration, including postings as technical director and chairman of Golden Cross Resources Ltd (ASX:GCR).

What does Silver City own?

The key assets are its Silver City tenements in the Broken Hill area, home to the world’s largest silver-lead-zinc ore body at the Broken Hill mining leases.

Broken Hill is over the border from iron oxide copper-gold (IOCG) shining star Olympic Dam.

The Silver City tenements include the Copper Blow project which features copper-gold mineralisation in ironstone that is part of a larger mineral system at the east of its tenure.

Junior explorer Silver City and its joint venture partner CBH Resources Ltd have focused on the high-grade copper-gold zone at Copper Blow for their efforts.

The 1-kilometre zone is found in a well-defined crustal structure known as the Copper Blow Shear Zone.

Silver City has been planning an extensive geochemical sampling program at the prospect, using rotary air blast drilling to sample bedrock under alluvial cover.

This was to be carried out alongside with further ground geophysical surveys including gravity and IP (induced polarisation) to generate new drill targets.

Inflection points

  • The retirement of the company’s former chairman, former CBH managing director Bob Besley, from the board in late February

  • The departure of the company’s MD Torrey on March 31 and appointment of new chairman and CEO

  • Continued progress from the company’s assessment of Copper Blow

Managing director Chris Torrey curious about the size of its IOCG system

“We’ve been working quite hard at looking to see where the mineralisation extends to and where it goes,” managing director Chris Torrey told the Proactive Investors Stocktube video channel.

“Iron oxide copper-gold sulphides … we have been drilling a high-grade portion of one of these we think, and we’re working on the resource. We’ve found one small portion of the system but I’d like to go and have a look at what the rest of the country’s got out there.”

 

3 min read

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