Argonaut Resources has announced a six million tonne zinc and copper deposit at its Kroombit project in Central Queensland.
In an announcement to the Australian Securities Exchange, the miner said the resource comprised of 5.2 million tonnes grading at 1.9% zinc and 0.15% copper at a cutoff of 1.0% Zinc, for 98,800 tonnes of zinc and 7,800 tonnes of copper.
According to Argonaut’s managing director Graeme Ellis, the discovery strongly supports the company’s plans to develop an open-cut mine in the area.
“The findings have confirmed that there is significant potential for additional copper and zinc mineralisation in and around our pre-existing deposit,” he said.
“To safeguard potential extensions to the original deposit, Argonaut holds 100% of two surrounding Mineral Exploration Permits (EPMs) and has applied for a further two EPMs, where it plans to conduct exploration for further base metal deposits. All four areas include prospective geological features and historical zinc and copper mineral occurrences.”