iTech Minerals reports promising rock chip results at Reynolds Range project, NT

iTech Minerals Ltd (ASX: ITM) has announced encouraging rock chip assay results from its Reynolds Range project in Northern Territory (NT), highlighting significant copper, silver, and gold mineralization. The latest findings underscore the potential for substantial high-grade mineral deposits across the project area.

Key Highlights from Rock Chip Sampling

iTech Minerals has released impressive rock chip assay results from the Reynolds Range project, revealing high concentrations of copper, silver, and gold. Notable results include:

– RR24-009: 18.2% copper (Cu), 285.0 grams per tonne (g/t) silver (Ag), and 1.0 g/t gold (Au)

– RR24-010: 14.2% Cu, 1,490.0 g/t Ag, and 3.3 g/t Au

– RR24-016: 16.4% Cu, 57.2 g/t Ag, and 1.0 g/t Au

– RR24-014: 9.4% Cu, 24.2 g/t Ag, 2.8% lead (Pb), and 0.6 g/t Au

– RR24-015: 5.9% Cu, 36.8 g/t Ag, 2.7% Pb, and 1.0 g/t Au

– RR24-013: 950.0 g/t Ag, 1.0% antimony (Sb), and 5.3% Pb

These results add to previously reported high-grade gold assays, with values reaching up to 182 g/t Au. The rock chips indicate widespread copper mineralization at the Scimitar and Reward prospects, accompanied by significant gold, silver, and lead content.

Exploration and Drilling Plans

The Reynolds Range project, comprising three exploration licenses in the Aileron Province, Northern Territory, has been the focus of recent exploration efforts. The project area, situated 90-230 kilometers north-northwest of Alice Springs, covers 375 square kilometers and is accessible via the Stuart Highway and Mt Denison road.

Following a recent field visit by Managing Director Michael Schwarz and Director Gary Ferris, iTech Minerals identified extensive copper and gold mineralization. The team assessed the scale of mineralizing systems and sampled outcropping mineralization. The visit aimed to evaluate prospects previously identified by explorers and confirm the potential for large-scale mineral deposits.

The Scimitar Copper-Gold-Silver Prospect, extending 1.5 kilometers in a north-south direction, has shown high-grade mineralization. Key findings include significant copper, gold, and silver results from rock chip samples collected across a 2.1-kilometer zone. The electromagnetic (EM) anomaly at Scimitar, combined with multi-element soil anomalies, is considered a high-priority target for future drilling.

Similarly, the Reward Copper-Gold-Silver Prospect, known for shallow copper oxide workings from the 1950s, has produced significant assay results. This prospect, associated with brecciated shear zones and sulfide sediments, shares similarities with the nearby Jervois Deposit.

Next Steps and Future Outlook

iTech Minerals has engaged geophysical consultants to model and refine drill targets at the Scimitar and Reward prospects. Drill permitting and landowner negotiations are underway, with plans to commence drilling in the coming months. The company has also secured a drill contractor to expedite exploration efforts.

The acquisition agreement with Prodigy Gold NL is nearing completion, with all conditions precedent met. iTech Minerals, an ASX-listed exploration company, continues to focus on developing its portfolio of battery materials and critical minerals. The company’s projects include graphite, rare earth elements, and copper-gold porphyry mineralization in South Australia and Northern Territory.

The high-grade results from Reynolds Range reinforce the project’s potential as a significant source of copper, silver, and gold. The substantial EM anomaly at Scimitar, coupled with the multi-element soil anomalies, presents a compelling case for further exploration. The forthcoming drilling program will be critical in assessing the full extent of the mineralization and advancing iTech Minerals’ strategic objectives.