Stelar Metals Unveils New High-Grade Copper Discoveries at Baratta Project
STELAR METALS LIMITED (SLB) Share Update July 2024 Wednesday 31st
Stelar Metals Discovers High-Grade Copper at Baratta Project
Stelar Metals Limited (ASX:SLB) has made a groundbreaking discovery of primary copper sulphide mineralisation and new high-grade copper gossans at their Baratta Copper Project in South Australia.
Instant Summary:
- New copper gossan trend discovered 400m north of Baratta Mine trend.
- Primary chalcopyrite mineralisation identified in copper-haematite breccias.
- High-grade rock chip assays up to 27% copper.
- Geological mapping and surface sampling expanding copper mineralisation at Baratta.
- Historic Baratta Copper Mine produced copper ore between 1896 and 1904.
- Baratta's geological setting shows similarities to the Central African Copper Belt.
Discovery Details
Stelar Metals Limited has identified a new parallel copper gossan trend approximately 400 meters north of the Baratta Mine trend. The discovery includes primary chalcopyrite (copper sulphide) mineralisation in copper-haematite breccias, indicating a substantial primary copper mineralising system at Baratta.
Additional high-grade rock chip assays have revealed copper concentrations up to 27.1%, with nine out of the latest 22 samples showing over 10% copper. This discovery suggests that Baratta is highly prospective for Sediment-hosted Stratabound Copper (SSC) mineralisation, similar to the Central African Copper Belt.
Geological Context
The historic Baratta Copper Mine, which produced copper ore between 1896 and 1904, is located within a 1.5 km-long zone of stratabound workings. Multiple parallel mineralised horizons of quartz-haematite gossan extend for several kilometers through Stelar's tenements, coinciding with a large Induced Polarisation (IP) chargeable anomaly approaching the Bibliando Thrust.
SSC deposits are the world's second most important source of copper, accounting for approximately 20% of global copper production. The Central African Copper Belt, spanning the Democratic Republic of Congo and Zambia, is positioned to be the second-largest global copper producer in 2024, behind Chile's large porphyry deposits.
Future Exploration
Stelar Metals plans to continue surface sampling and geological mapping over the coming months, extending to the GA-IP chargeability anomaly, the Bibliando Thrust, the Bibliando Diaper, and several other historic copper mines. Rock-chip samples are also being dispatched for petrological examination to better understand the copper mineralising system, with selected higher-grade samples being re-analysed for gold.
The company is reprocessing available geophysical datasets and aims to acquire new geophysical surveys to assist in designing future drill targets.
The discovery of high-grade copper mineralisation at Baratta is a significant development for Stelar Metals. This could positively impact the company's stock price as investors react to the potential for substantial copper production. The similarities to the Central African Copper Belt further enhance the project's attractiveness.
Investor Reaction:
Analysts are likely to view this discovery positively, given the high-grade nature of the mineralisation and the potential for substantial copper production. However, investor reaction may be tempered by the need for further exploration and confirmation of the extent of the mineralisation.
Conclusion:
Investors should keep a close eye on Stelar Metals' ongoing exploration activities at the Baratta Project. The company's strategic response to these discoveries will be crucial in unlocking the full potential of the project and maintaining investor confidence.