Comet Resources enhances Barraba copper potential on confirmation that Gulf Creek was major operation

Comet Resources Ltd (ASX:CRL) has enhanced the potential of Barraba Copper Project in northern NSW after confirmation that the Gulf Creek mine was a major historic copper mining operation. This assessment was made following a site visit by consulting geologist Mart Rampe aimed at assessing environmental and logistical conditions to enable finalisation of planning for a comprehensive drilling program. The visit included a review of site topography and access conditions necessary for drilling equipment and support infrastructure. Rampe also visited the location of historical mining and processing, known as the Gulf Creek Mine, and assessed that area in relation to current and historical exploration and mining data. Comet’s planning for drill-hole locations is now being finalised, representing the first comprehensive modern review of the project. Exploration to focus on Gulf Creek Managing director Matthew O’Kane said: “Based on our recent site work, we propose to focus initial physical exploration at Barraba on the Gulf Creek deposit area, where we see clear prospectivity. “We’re now finalising a drilling plan aimed at confirming the presence and extent of mineralisation there not just for high-grade copper but also for other base and precious metals.” Copper grades of up to 5% Although the Barraba Copper Project has never been systematically tested by modern exploration techniques, the Gulf Creek mine area previously produced copper at an average grade of 5%. Substantial zinc was also noted in historical records, however, grades were never reported. Exploration is set to also test for the presence of precious metals often associated with VMS deposits in the style of that found at Gulf Creek. Downhole geophysical surveys The proposed drilling will be complemented with downhole geophysical surveys with the aim of providing additional information about potential parallel and blind lodes. Additionally, anomalous areas previously delineated by induced polarisation surveys are considered to be priority exploration targets and will also be followed up during the course of the same exploration program. As volcanogenic massive sulphide (VMS) deposits often occur in clusters, the company said it was excited about the potential for new discoveries in and around the Gulf Creek Mine. Regionally, mineralisation recorded elsewhere within the licence area will also be assessed. Light secondary copper staining throughout.