Mincor's strategy of expanding its interests across the broader minerals industry is exploration-driven and focused on targets likely to produce long-life growth assets.
Tottenham Copper Project
The Tottenham Copper Project is located in the prolific Lachland Fold Belt of New South Wales. The geological setting is similar to that of the Girilambone group of mines, including the operating Murrawombie (formerly Girilambone) and Tritton copper mines. Tottenham is also located 160km southeast of the CSA copper-silver mine and Peak gold mine near Cobar.
Drilling in the late 1990s by copper producer Straits Resources Limited targeted shallow oxide mineralisation and returned significant results at Tottenham including 20 metres @ 2.1% copper (from 10 metres) at the Caroline Prospect, and 7 metres @ 1.5% copper (from 29 metres) and 10 metres @ 1.4% copper (from 43 metres) at the Orange Plains Prospect.
Mineralisation in the region is associated with shallow-dipping zones of massive sulphides with silica and magnetite altered Girilambone sedimentary and volcanic rocks. The broad structure of the region is antiformal. Potential for both sulphide and oxide mineralisation is present both down-dip and along strike of known occurrences.
Mincor's exploration work to date has identified an initial resource of 6.99 million tonnes at 1.2% copper for 85,750 tonnes of contained copper metal . Work continues.