Altair Minerals' High-Grade Copper and Gold Assays at Wee MacGregor
ALTAIR MINERALS LIMITED (ALR) Share Update September 2024 Monday 16th
Altair Minerals Reports Exceptional Copper and Gold Grades at Wee MacGregor
Altair Minerals Limited (ASX: ALR) has announced exceptional results from its recent surface sampling program at the Wee MacGregor Mining Licenses in Queensland, revealing high-grade copper and gold assays.
Instant Summary:
- Surface sampling program returns high-grade copper and gold assays.
- Exceptional continuous channel sample of 44m at 1.2% copper.
- Spot surface samples show grades up to 32% copper and 5.51g/t gold.
- 18 samples returned over 1% copper, and 9 samples returned over 1g/t gold.
- Altair finalizing reprocessing of geophysical data at Horse-Well in South Australia.
Sampling Program Results
Altair Minerals Limited has reported outstanding results from its surface sampling program at Wee MacGregor in Queensland. The program revealed high-grade copper and gold assays, demonstrating significant mineralization potential.
The surface sampling included 14 rock chip spot samples and 21 channel samples. Notably, 18 samples returned over 1% copper, with the highest grade reaching 32% copper, and 9 samples returned over 1g/t gold, with the highest grade at 5.51g/t gold.
Key Findings
One of the most remarkable findings was a continuous channel sample of 44 meters at 1.2% copper. Additionally, spot surface samples showed grades up to 32% copper and 5.51g/t gold, indicating a rich mineralization zone.
- WM19-04: 21.1% Cu and 5.51g/t Au (Rock Chip Sample)
- WM19-02: 32.0% Cu and 1.54g/t Au (Rock Chip Sample)
- WM24-22: 23.8% Cu and 4.00g/t Au (Rock Chip Sample)
- WM24-26: 17.0% Cu and 2.29g/t Au (Rock Chip Sample)
- WM24-21: 15.8% Cu and 2.03g/t Au (Rock Chip Sample)
- WM24-01: 4.4% Cu and 1.05g/t Au (Rock Chip Sample)
- WMCH01: 43.7m @ 1.2% Cu (Channel Sample, weighted average)
- WMCH02: 15.7m @ 1.9% Cu and 0.88g/t Au (Channel Sample, weighted average)
Geophysical Data Reprocessing
Altair Minerals is also finalizing the reprocessing of geophysical data at its Horse-Well prospect in South Australia, located 2km west of BHP’s Oak Dam deposit. The reprocessing, led by experts Jim Hanneson, Ken Cross, and Chris Anderson, aims to define better targets for precision follow-up geophysical programs and drilling.
Altair's CEO, Faheem Ahmed, expressed optimism about the findings, highlighting the potential for further exploration and the strategic importance of the Horse-Well project.
The announcement of high-grade copper and gold assays is likely to have a positive impact on Altair Minerals' stock price. The results indicate strong mineralization potential, which could attract investor interest and boost confidence in the company's exploration projects.
Investor Reaction:
Analysts are expected to react positively to the high-grade assays, as they demonstrate significant mineralization potential at Wee MacGregor. The reprocessing of geophysical data at Horse-Well also adds to the company's prospects, potentially leading to new discoveries.
Conclusion:
Investors should keep an eye on Altair Minerals' ongoing exploration activities and the final results of the geophysical data reprocessing at Horse-Well. The high-grade assays at Wee MacGregor suggest promising opportunities for future exploration and development.