Rio Tinto releases more info about ‘exciting’ Winu copper discovery
Diversified major Rio Tinto has released more drilling results from the much-talked about Winu copper discovery in the Paterson province of Western Australia, where it now has 180 people on site.
Intercepts for the 11 diamond drill holes that were not previously available in full and all previously reported results were published in a company notice to the ASX on Thursday.
The company said that the results continued to indicate relatively wide intersections of vein-style copper mineralisation associated with gold and silver beneath relatively shallow cover, which ranges from 50 m to 100 m.
The next phase of reverse circulation (RC) and diamond drilling was under way to define the mineralisation extents and continuity and Rio Tinto said that the results would be reported in the third quarter.
There were currently eight diamond rigs, three RC rigs and a waterbore rig drilling at Winu.
Winu, which lies about 200 km by gravel and sand track from the Great Northern Highway, has been the subject of speculation for some time. Rio Tinto CEO Jean-Sébastien Jacques said last month that Winu was one of the company’s “exciting” opportunities in copper.
“The initial results from the first phase of drilling are encouraging. It is copper. It is close to the surface and it is 100% owned,” he said of the Winu discovery.
Rio Tinto will spend $250-million on exploration this year and the bulk of that spend will be on copper.
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