Nov 4, 2024

G11 Resources Hits 9.3m @ 1.42% Cu at Wilandra Copper Project, NSW

Introduction:

G11 Resources Limited (ASX: G11) has reported significant copper intercepts from its Wilandra Copper Project in NSW, highlighted by 9.3m at 1.42% Cu, 0.98% Zn, 0.11 g/t Au and 3.79 g/t Ag from 341.2m.

Drill Results:

9.3m @ 1.42% Cu, 0.98% Zn, 0.11 g/t Au and 3.79 g/t Ag from 341.2m (including 5.9m @ 2.13% Cu, 1.50% Zn, 0.16 g/t Au and 5.64 g/t Ag) (GR24RCD006)
8.3m @ 1.03% Cu, 0.61% Zn, 0.07 g/t Au and 3.60 g/t Ag from 327.9m (including 3.4m @ 2.19% Cu, 1.32% Zn, 0.14 g/t Au and 7.15 g/t Ag) (GR24RCD007)
1.0m @ 4.67% Cu, 1.96% Zn, 0.21 g/t Au and 10.6 g/t Ag from 327.8m (GR24RCD006)

Project Overview:

The Wilandra Copper Project is located in NSW. The project contains a 4km long Peveril-Grasmere mineralized trend, with the current drilling focused on the Peveril zone which represents approximately one-third of the total strike length.

Recent drilling and geophysical surveys have identified a continuous zone of volcanogenic massive sulfide (VMS) mineralization over 1km of strike and up to 500m dip extent at the Peveril zone.

Program Details:

The reported results are from a 3,546.4m RC precollar and HQ diamond core drill program targeting the Peveril zone. Downhole electromagnetic (DHEM) surveys were conducted to supplement the drilling, successfully identifying multiple on-hole and off-hole EM conductance responses caused by the Cu-rich massive sulfide mineralization. The exploration strategy combines drilling with EM surveys to test the mineralized potential of the project.

Understanding These Results:

The intercepts represent significant copper-rich VMS mineralization along strike from previously identified high-grade copper zones at Peveril. The DHEM survey results increase confidence that this mineralization forms part of a continuous zone of massive sulfide over 1km of strike and up to 500m dip extent.

The high-grade intercepts, particularly the 9.3m at 1.42% Cu and 8.3m at 1.03% Cu, demonstrate the potential for substantial copper mineralization within the VMS system. The presence of zinc, gold, and silver credits enhances the economic potential of the mineralization.

Management Commentary:

G11 Managing Director and CEO, Richard Buerger stated:

“This set of drilling and DHEM results represents the intersection of a new copper rich VMS system directly along strike from the steeply plunging high-grade copper zone intersected previously at Peveril. The Company’s exploration strategy has not only significantly increased the potential size of the Wilandra Copper Project, but also confirmed that the systematic application of drilling and EM geophysical surveys is highly effective at identifying copper-rich massive sulphide mineralisation with a 100% success rate.”

“The Exploration team has tested only about a third of the 4.0km strike length of the outcropping mineralisation at Wilandra using this proven methodology. In addition, interpretation of an existing HeliTEM geophysical survey has identified priority targets in the right geological setting along strike to the northwest of Peveril, with a MLEM survey commencing to better define the anomalies prior to drill testing. As a result, the resource growth potential of the existing system and the discovery of new VMS systems is considered high, and the Company could be on the cusp of identifying a significant new VMS province.”

Next Steps & Catalysts:

A moving loop electromagnetic (MLEM) survey is scheduled to commence in early November, targeting the northwest strike extensions of Peveril. The survey will cover approximately 6.5km of strike length, focusing on areas where HeliTEM anomalies have been identified.

The company plans to continue its systematic exploration approach, combining drilling with EM surveys to test the remaining two-thirds of the Peveril-Grasmere trend that remains unexplored using this methodology.

Commodity Outlook:

Copper remains a critical metal for the global energy transition, with demand expected to grow significantly in the coming decades. The discovery of new VMS systems in NSW, a tier-1 mining jurisdiction, is strategically important for meeting future copper supply needs.

Conclusion:

The latest results from Wilandra demonstrate the potential for a significant new VMS copper province. With only one-third of the known mineralized trend tested to date, there is substantial exploration upside. The success of the company's exploration strategy, combining drilling with EM surveys, provides a clear pathway for future discoveries and resource growth at the project.

Sources:

G11 Drill Results Announcement

Additional Figures:

Australia

ASX

Gold

Nov 11, 2024