Drill results shed light on rumoured Rio find
30th November 2018
Resources Rising Stars
Fresh satellite images of Rio Tinto’s rumoured copper discovery in Western Australia’s remote Paterson Range province shed new light on the scale of activity in the region (reports The Australian).
The latest high-resolution images of the Rio project, dubbed Winu, show a drilling pattern covering an area about 1.5km long by 600m wide. The space between the drill pads is consistent with the drill-out of a resource, but Rio to date has had nothing to say about what it may or may not have found in the area.
Rumours about a Rio Tinto copper discovery have been building for months, but the excitement around the Paterson region went to a new level this week following the release of startling drilling results by UK-listed Greatland Gold.
Greatland on Monday night announced that its latest drilling from its Havieron prospect in the area had returned a combined 275m of mineralisation grading 4.77g of gold per tonne and 0.61 per cent copper.
The results are some of the most eye-catching to come out of Australia in recent years, and prompted a 60.7 per cent surge in its shares over the following days.
Junior explorer Antipa Resources, which has a joint venture with Rio Tinto over its Citadel project in the Paterson, announced this week that Rio had decided to carry out an airborne electromagnetic survey over Citadel as part of their partnership.
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