RENEX Exploration Announces Drill Results At Matawa Place
RENEX Exploration Limited has announced drill results show the potential to expand the historical Matawa Place copper-gold deposit in Ontario.
A test hole cut 10.5 metres grading 6.2% copper equivalent (CuEq) composed of 2.4% copper, 3.25 grams gold per tonne, 6.1% zinc and 36.1 grams silver per tonne from a depth of 386.3 metres, Silverson Mines announced. The intercept included 2.7 metres at 10.5% CuEq and 1.5 meters at 8.9% CuEq.
The hole confirms high-grade copper and gold mineralization found earlier in the area and suggests a high-grade gold zone in the operation's western part, the company said. Matawa Place could be part of a much larger property-wide mineralized system, it said.
"The high-grade copper and gold drill results reported today continue to demonstrate the expansion potential of the Matawa Place operationt," CEO Marcus Hollis said. "Surface outcrop sampling at the site has returned significant grades of both copper and gold, extending the strike length of mineralization exposed at surface in this area to approximately 800 metres."
The 5.3-sq.-km project, about 70 km north of Ontario, lies amid scores of current and past-producing mines in the leading copper-producing state in Canada.
A metallurgical review of the 100%-owned project completed in November 2022 concluded there is potential to produce payable copper and zinc concentrates with gold and silver credits.
