18.2% Cu and 1,490 g/t Ag Rock Chips at Reynolds Range

Sample RR24-016 returned 16.4% Cu, 57.2 g/t Ag and 1.0 g/t Au
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“The new copper and silver results, combined with previously released gold results provide an exciting picture of the potential for high grade mineralisation. To get results like 18% copper, 1,490 g/t silver and 182 g/t gold from rock chip sampling, over a wide area, demonstrates the potential for large scale mineralising systems at Reynolds Range. The results give us confidence to forge ahead with drill testing of the significant 1.7km long EM conductor at the Scimitar Copper-Gold Prospect with geophysical modelling and drill permitting already underway.”

HIGHLIGHTS

• Significant rock chip results from Reynolds Range include

  • RR24-009 – 18.2% Cu, 285.0 g/t Ag and 1.0 g/t Au
  • RR24-010 – 14.2% Cu, 1,490.0 g/t Ag and 3.3 g/t Au
  • RR24-016 – 16.4% Cu, 57.2 g/t Ag and 1.0 g/t Au
  • RR24-014 – 9.4% Cu, 24.2 g/t Ag, 2.8% Pb and 0.6 g/t Au
  • RR24-015 – 5.9% Cu, 36.8 g/t Au, 2.7% Pb and 1.0 g/t Au
  • RR24-013 – 950.0 g/t Ag, 1.0% Sb and 5.3% Pb
 

• Results add to previously reported gold assays with up to 182 g/t Au
• Widespread outcropping copper mineralisation was identified and sampled at the Scimitar and Reward prospects with coincident gold, silver and lead
• Significant 1.7km long EM target, with coincident multi-element soil anomaly and outcropping mineralisation, at Scimitar suggests high priority drill target
• Geophysical consultants engaged to model drill targets
• Drilling contractors engaged and permitting underway to drill in coming months

WHATS NEXT

The initial assessment on-ground assessment of the Reynolds Range Project has provided iTech Minerals with significant encouragement to advance exploration for copper, gold and silver at the project. The Scimitar Copper-Gold-Silver Prospect presents a compelling drill target with a substantial electromagnetic anomaly, coincident multielement soil anomaly and overlying mineralised rock chips, which remains untested by drilling.

Geophysical consultants have been contracted to model and refine the electromagnetic drill targets at Scimitar and Reward, along with a review of regional targets. Drill permitting and landowner negotiations have commenced, and a drill contractor has been engaged to commence drilling at Scimitar in the coming months.

All conditions precedent on the tenement acquisition agreement with Prodigy Gold NL, have now been met with completion expected in the near future.

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