Rubix Resources Limited (ASX: RB6) has announced the commencement of drilling at its Paperbark project in northwest Queensland. Rubix Resources has a diversified base metal and gold asset portfolio providing opportunities for new discoveries in proven districts. The company’s assets comprise ten exploration licenses across four projects in Northern Queensland and Western Australia, and the Ceiling Lithium Project in James Bay, Quebec.
The drilling program is focused on the Grunter North target and is supported by a $275,000 grant awarded to Rubix as part of Queensland’s Collaborative Exploration Initiative (CEI) program. The funding will facilitate the testing of geophysical targets with potential copper mineralisation at Grunter North. The modelled dimensions of the Grunter North chargeability anomaly are approximately 600m in length, 300m in width and 200m in thickness.
The company believes that the mineralisation at Grunter North, if present, would most likely be of a sediment-hosted and/or structurally controlled style. The Grunter North target occupies a structural position associated with the Barramundi and Grunter Faults, and is characterised by a shallowly NNE-dipping chargeable anomaly starting at approximately 250m depth. The spatial association with surface copper mineralisation led to this target being the focus of Rubix’s CEI co-funded drilling application.
Drilling has commenced with hole GN25-01 (planned EOH 450m), and the main geophysical target area is expected to be intercepted in the coming days. The Paperbark Project is surrounded by significant players in the mining industry, including Anglo American, Rio Tinto, Mount Isa Mines, FMG Resources and 29 Metals, highlighting the prospectivity of the region.
