Aeromagnetic Survey to Commence at Barraba Copper Project

Highlights

  • Mitre Geophysics and AirGeoX have been engaged to conduct a high definition airborne magnetic survey of the Barraba Copper Project using an Unmanned Aerial Vehicle (UAV).
  • Data collected from the UAV survey will be analysed to refine targets for the next stage ground geophysics program and drilling.
  • Work to commence this month with results expected shortly afterwards.

Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW. AirGeoX is an experienced contractor in the provision of geophysical services utilising the latest in UAV drone technology. This technology will enable the cost-effective acquisition of high-definition magnetic data over a large target area. The data acquired will display geological structures that may previously been undetected in the project area. AirGeoX’s mission statement is to significantly increase the rate of discovery for minerals and oil and gas through innovative methods and are currently developing the highest quality UAV drone magnetic acquisition system in the world.

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Comet Resources Limited (Comet or the Company) (ASX: CRL) is pleased to announce that it has contracted Airborne Geo Exploration Pty Ltd (AirGeoX) to complete an aeromagnetic survey of its Barraba Copper Project located in north-east NSW.

High Grade Gold In Maiden Drilling at Twin Hills

HIGHLIGHTS

  • High grade gold in composite samples returned from the Company’s maiden drilling program at Twin Hills Gold Project
  • Significant results from 4 metre composites include: 8m @ 2.66g/t Au from 40m including 4m @ 3.62g/t Au from 44m (THRC014); 4m @ 1.18g/t Au from 32m (THRC015); and 12m @ 0.62g/t Au from 40m including 4m @ 1.10g/t Au (THRC008)
  • Mineralisation is open in all directions
  • Validation of exploration model confirmed highlighting the prospectivity of structures underlying the three priority auger anomalies
  • Program of Works application lodged for priority follow-up RC drilling

The Directors of eMetals Limited (ACN 142 411 390)(ASX:EMT)(eMetals or the Company) are pleased to announce the results of the Company’s first reverse circulation drilling program at its wholly owned Twin Hills Project (Project) in the Eastern Goldfields region of Western Australia. This announcement details the assay results of composite sampling from reverse circulation (RC) drilling undertaken in January 2021. Results of single metre sampling of quartz and sulphide bearing intervals are pending and will be reported when re-assaying of samples is complete.

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The Directors of eMetals Limited (ASX:EMT) are pleased to announce the results of the Company’s first reverse circulation drilling program at its wholly owned Twin Hills Project in the Eastern Goldfields region of Western Australia.

ABRA BASE METALS PROJECT DRILLING RESULTS

HIGHLIGHTS:

 2020 Abra Drilling Program concluded in late-December with a total of 57 successfully completed new diamond drill-holes (~25km of drilling), taking the total cumulative drilling on Abra to over 100km
 This third batch of assays (18 drill-holes: AB159, AB160, AB162 to AB175, AB178 and AB179) includes intersections from eight holes added to the Program to expand the shallow, close to infrastructure ‘metal rich’ zone around previously reported ‘best high-grade lead-silver drill-hole ever’ at Abra, drill-hole AB147, two of which (AB174 and AB179) are effectively following thick, highgrade mineralisation into an area of Inferred mineralisation
 Outstanding lead-silver intersections in this announcement confirm wide, highgrade mineralised zones:
 AB174 – 32.3m at 13.8% lead and 34g/t silver from 352.7m
 AB167:
 22.8m at 7.5% lead and 24g/t silver from 277.1m; and
 20.1m at 8.9% lead and 18g/t silver from 338.7m
 AB172:
 24.3m at 10.9% lead and 24g/t silver from 288.5m; and
 9.9m at 18.1% lead and 31g/t silver from 342.3m
 AB166 – 16.9m at 9.3% lead and 36g/t silver from 398.9m
 AB171:
 17.7m at 8.8% lead and 30g/t silver from 308.1m; and
 17.0m at 8.6% lead and 15g/t silver from 329.7m
 AB170:
 16.6m at 9.2% lead and 25g/t silver from 352.7m; and
 17.0m at 6.5% lead and 10g/t silver from 374.0m
 AB173 – 13.1m at 8.7% lead and 16g/t silver from 404.0m
 AB 178 – 15.9m at 7.4% lead and 14g/t silver from 437.8m
 AB 159 – 10.7m at 9.2% lead and 26g/t silver from 378.8m
 In a first for Galena, four drill-holes (AB167, AB170, AB172 and AB174) in a single reporting batch show cumulative lead-silver intersections >50m
 One of the last drill-holes drilled in the Program (AB195) was drilled to target the interpreted copper and gold zone – Assays remain pending for that hole but three holes reporting today coincidentally extended into copper and gold mineralisation, with notable significant intersections including:
 3.0m at 2.0% copper, 2.3g/t gold and 29g/t silver from 401.6m in
AB174
 6.0m at 1.8% copper and 1.3g/t gold from 391.8m in AB179
 4.9m at 1.0 g/t gold and 24g/t silver from 424.2m in AB166
 Drilling density has been substantially improved (eg, area covered by 30 x 30m or better spacing has increased approximately five fold), particularly over the shallower northern side of Abra, providing opportunities for optimisation of the early years of the mine plan
 Preparatory construction works have resumed at the Project – on site installation of the remaining 200 camp units and other ancillary buildings is underway alongside various civil works such as the explosives magazine (completed) and various site clearing and earthworks, including preparation of the pad for the processing plant

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GALENA MINING LTD. announces the third batch of assay results from the now completed 2020 Abra Drilling Program at Abra Base Metals Project.

$7 million Raised to fund Lithium Exploration

European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI) (EUR or the Company) is pleased to announce that it has received commitments to raise A$7 million through a placement to sophisticated investors at $0.05 per share. Investors will also be issued one option (exercise price $0.075, expiring 3 years from issue) for every 2 shares issued.

Funds raised will supplement the Company’s SPP (to close on 22 January 2021) and will be used to continue exploration and development on its Wolfsberg Lithium Project and WA tenement considered prospective for conglomerate gold, and working capital.

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European Lithium Limited is pleased to announce that it has received commitments to raise A$7 million through a placement to sophisticated investors at $0.05 per share.

Santa Teresa Gold Project Drilling to Commence Q1 2021

Highlights

  • Project Manager Interminco Services making significant progress on the Santa Teresa Gold Project in Baja California, Mexico
  • Appointment of local geological consultancy Minera Cascabel to assist with geological programs, including permitting of drilling
  • Drilling expected to commence in Q1 2021
  • Prior to drilling, a mapping and trenching program focussed on vein outcrops will assist with final drill-hole positioning
  • Ecological Survey completed as part of drilling permitting process
  • Initial 50% purchase of Santa Teresa now completed

Comet Resources Limited (Comet or the Company) (ASX:CRL) is pleased to announce that its Project Manager for the Santa Teresa Gold project, Interminco Services Limited, has made significant progress in Baja California Norte, Mexico, having recently appointed a local geological consultant, Minera Cascabel, which operates a Joint Venture with the Imdex Group based in Tucson, Arizona. The group is staffed by veterans of Northern Mexico exploration.

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Comet Resources Limited (ASX:CRL) is pleased to announce that its Project Manager for the Santa Teresa Gold project, Interminco Services Limited, has made significant progress in Baja California Norte, Mexico, having recently appointed a local geological consultant, Minera Cascabel, which operates a Joint Venture with the Imdex Group based in Tucson, Arizona.

Extensive Surface Copper Mineralisation Identified at Barraba Copper Project

Highlights:

  • Barraba Project Field Program activities focussed around the historical high grade
  • Murchison Copper Mine and several IP anomalies at Gulf Creek North
  • Visual observation of widespread copper mineralisation
  • Soil, rock and mine dump samples collected submitted for laboratory analysis
  • Assay results are expected to be received in December

Comet Resources Ltd (Comet or the Company) (ASX:CRL) is pleased to provide an update on the Barraba Copper Project located in the New England area of NSW, approximately 550km north of Sydney. Comet Consultant Geologist and Project Manager, Mr. Mart Rampe, has now completed the initial site investigation of the historical high grade Murchison Copper Mine and the Gulf Creek North prospects.

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Comet Resources Ltd (ASX:CRL) is pleased to provide an update on the Barraba Copper Project located in the New England area of NSW, approximately 550km north of Sydney.

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