Stelar Metals Unveils Promising Copper and Silver Assays at Lone Pine Prospect
SLB (SLB) Share Update September 2024 Monday 23rd
Stelar Metals Reports High-Grade Copper and Silver Assays at Lone Pine Prospect
Stelar Metals Limited (ASX:SLB) has released the results of its second round of rock chip samples from the Lone Pine Prospect, revealing high-grade copper and silver assays that exceed previous findings.
Instant Summary:
- Rock chip samples returned assays up to 24.9% copper.
- All new samples assayed over 5% copper.
- First high-grade silver assays at Lone Pine, with results up to 211 g/t silver.
- Lone Pine geology is identical to Baratta, indicating high potential.
- Baratta Project shares characteristics with the Central African Copper Belt.
Assay Results
Stelar Metals Limited has released the results of the second round of rock chip samples from the Lone Pine Prospect, located 7.5 kilometers west of the historic Baratta Mine. The new assays show significant copper and silver concentrations, with all samples returning over 5% copper and the highest assay reaching 24.9% copper.
In addition to the impressive copper results, the assays also revealed high-grade silver, with four samples exceeding 2 ounces of silver and the highest assay reaching 211 g/t silver. These are the first high-grade silver assays recorded at Lone Pine.
Geological Context
The Lone Pine Prospect is situated on the western flank of the Bibliando Dome, an area known for its rich geological features. Reconnaissance mapping indicates that the geology of Lone Pine is identical to that of the Baratta Mine area, with stacked Fe-Cu gossans mapped over a 400-meter strike.
The Baratta Project is highly prospective for Sediment-hosted Stratabound Copper (SSC) mineralization, similar to the Central African Copper Belt (CACB), the world's second-largest copper-producing province. The geological setting of Baratta displays characteristics akin to those seen in the CACB, further enhancing its potential.
Exploration and Next Steps
The Baratta Project is hosted within the Adelaide Rift Complex, with NeoProterozoic Lower Wilyerpa Formation sediments deposited in a shallow marine glacial environment. These sedimentary rocks have been folded and influenced by salt-diapirism and hydromorphic processes.
Stelar Metals plans to continue geological mapping and rock chip sampling at the main Baratta Mine area to discover additional parallel gossans and map their strike potential. The company is also finalizing the reprocessing, modeling, and interpretation of historical geophysical datasets, with results to be reported shortly.
The significant copper and silver assay results from Lone Pine are likely to positively impact Stelar Metals' stock, as high-grade findings can boost investor confidence and attract new investments. The geological similarities to the Central African Copper Belt further enhance the project's potential, making it a promising prospect for future exploration and development.
Investor Reaction:
Analysts are expected to react positively to the high-grade assay results, noting the potential for significant returns as exploration continues. The geological similarities to the Central African Copper Belt are particularly noteworthy, as they suggest a high potential for substantial copper and silver deposits.
Conclusion:
Investors should keep an eye on Stelar Metals as the company continues to explore and develop the Lone Pine Prospect. The high-grade copper and silver assay results indicate a promising future for the project, and further exploration could reveal even more significant findings. Stay informed on Stelar Metals' progress and consider the potential long-term benefits of investing in this promising prospect.