West Cobar Metals Highlights Copper-Antimony Potential at Bulla Park
WC1 (WC1) Share Update September 2024 Monday 16th
West Cobar Metals Reports Significant Copper-Antimony Potential at Bulla Park
West Cobar Metals Limited (ASX: WC1) has announced significant scale potential for copper-antimony mineralisation at its Bulla Park project, located 110km west of Cobar in New South Wales.
Instant Summary:
- Significant scale potential for copper-antimony mineralisation at Bulla Park.
- Mineralisation extends over 1.8km of strike with a horizontal width of 350m and thicknesses around 40m.
- Strong macroeconomic factors for antimony (approx. US$22,700/t) and copper (approx. US$9,300/t).
- Assays for recently drilled BPD09 expected in September.
- Additional potential for silver-zinc-lead mineralisation south of the copper-antimony zone.
Project Overview
West Cobar Metals Limited (WC1:ASX) has revealed further evaluation results for its 100%-owned Bulla Park Copper-Antimony Project. Located 110km west of Cobar, New South Wales, the project shows significant scale potential for copper-antimony mineralisation.
The mineralisation is primarily tetrahedrite (copper-antimony sulphide), chalcopyrite, and stibnite (antimony sulphide). Recent technical assessments indicate mineralisation extends over at least 1.8km of strike, with a horizontal width of 350m and thicknesses of approximately 40m.
Geophysical Surveys and Drilling
Gravity and aeromagnetic surveys have confirmed the presence of mineralisation along the strike. The vertical depth to the top of mineralisation is about 100m. Assays for the recently drilled diamond hole BPD09 are expected before the end of September, which could further validate these findings.
In addition to copper-antimony, there is potential for silver-zinc-lead mineralisation south of the main copper-antimony zone. For instance, drill hole BPD04 intersected 22m of 20g/t Ag and 1.0% Pb from 253m, and 4m of 0.29% Zn from 270m.
Macroeconomic Factors
Strong macroeconomic factors support the project's potential. Antimony prices are approximately US$22,700/t, and copper prices are around US$9,300/t. China's recent decision to restrict antimony exports has caused prices to surge, as global users scramble to secure supply.
Antimony is a critical mineral used in military applications, solar cells, fire retardants, and alloy production. With China supplying 56% of global production, the export restrictions have significant implications for the market.
The announcement of significant copper-antimony potential at Bulla Park is likely to positively impact West Cobar Metals' stock price. The strong macroeconomic factors for antimony and copper add further value to the project. Investors may see this as a promising opportunity, given the strategic importance of these minerals.
Investor Reaction:
Analysts are likely to react positively to the news, given the promising scale of mineralisation and the strong market conditions for antimony and copper. However, the final assay results for BPD09 will be crucial in confirming the project's potential.
Conclusion:
Investors should keep an eye on the upcoming assay results and further developments at Bulla Park. West Cobar Metals' strategic moves in response to these findings will be essential in maintaining and growing investor confidence.