Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Metals Australia Ltd ( (AU:MLS) ) has issued an announcement.
Metals Australia has reported highly anomalous copper, bismuth, cobalt and zinc results from its initial 3,216-metre geochemical air-core and slimline reverse circulation drilling program at the Warrego East project in the Northern Territory, testing five undercover targets interpreted as prospective for Tennant Creek–style Cu-Au-Bi mineralisation. The bulk of drilling at Target 1, located 5km east of the historic Warrego mine, intersected broad oxide-zone halos with elevated copper and iron (up to 24% Fe) that the company interprets as overlying a deeper ironstone-associated bedrock source similar to Warrego, with mineralisation remaining open to the east and west; additional anomalous copper and gold was returned at Target 2, and Metals Australia plans to refine new magnetic “ironstone” targets, seek an expanded Environmental Mining Licence and undertake deeper and follow-up drilling, indicating growing exploration momentum and potential for a significant discovery in a proven copper-gold district.
More about Metals Australia Ltd
Metals Australia Ltd is an Australian exploration company focused on discovering and developing copper, gold and associated base-metal deposits. The company is currently targeting Tennant Creek–style, high-grade ironstone-hosted Cu-Au-Bi systems in the Northern Territory, leveraging geophysical surveys and geochemical drilling to define new mineral resources near historic producing mines.
Average Trading Volume: 657,402
Technical Sentiment Signal: Sell
Current Market Cap: A$17.56M
See more data about MLS stock on TipRanks’ Stock Analysis page.