Comet Resources has primary focus on copper-gold with multiple price catalysts expected over the next six months

Comet Resources Ltd (ASX:CRL) has multiple potential price catalysts set to take place over the next six months for its multi-commodity portfolio across a range of geographies including Mexico and Australia. Most focus will be on the company's copper and gold assets as it increasing its exposure to these high-value metals. At the RIU Sydney Resources Round-up conference, the company discussed upcoming work programs at the Barraba Copper Project in northern NSW, the Santa Teresa Gold Project in Mexico's Baja California, the Springdale Graphite Project in southern Western Australia and its Northern Territory copper-gold project. Potential price catalysts. Barraba Copper Project At the Barraba project, a brownfields copper-zinc project with a large historical mine (Gulf Creek Copper Mine), Comet highlighted its completion of an initial geophysics program to define drill targets with results expected shortly. An initial drilling program will kick-off in quarter four of 2021 with results to be expected in quarter one 2022. Santa Teresa Gold Project Comet’s Santa Teresa project has an initial drill program underway with assaying and results expected between quarter three and quarter four. A revised JORC resource from its current resource of 89,000 gold ounces capped on a lode by lode basis with a cut off grade of 2.5 g/t gold and average grade of 7.5 g/t will take place in the first quarter of 2022. Historical drilling has intersected mineralisation up to 958 g/t gold over 1 metre, with multiple drill results assaying 30 g/t. Springdale Graphite Project The Springdale Graphite Project has demonstrated, through earlier metallurgical tests, that the graphite is a rare product due to its small flake size, which the company believes could make it ideally suited for anode production. Results of this ongoing test-work, with the bulk sample of graphite concentrate expected to be completed in quarter two, will determine the suitability of the natural flake graphite from Springdale for use in the manufacture of battery anodes for electric vehicles. Final test results are expected in the third quarter of 2021. Northern Territory projects The company is planning systematic exploration at the Paradise Well Copper-Gold Project and Oonagalabi Copper-ZincLead Project in the Northern Territory. At Paradise Well copper grades of up to 8.88% and gold rock chips of 2.15 g/t have been returned in historic sampling but the numerous outcropping copper oxide locations known from previous work have never tested with modern exploration. Exploration is planned to identify copper-gold targets for ground geophysics to develop drill targets, which will be the first drill testing of these targets. At Oonagalabi there is around 1.7 kilometres of outcropping mineralisation with only one hole drilled since 1981 and limited drilling of primary mineralisation with a best historic intersection of 36.5 metres at 1% copper and 1.7% zinc. It is in the same geological setting as other deposits in the region such as the 426,200 tonnes Jervois copper deposit and CRL plans systematic exploration utilising stratigraphic/structural mapping with geophysics to target primary mineralisation of higher metal tenor. This is expected to be followed with drill testing to quickly develop a resource over Oonagalabi.