Renascor Resources discovers large copper zone in Flat Hill Project
- Renascor Resources identified multiple priority copper targets across a three-kilometre zone at its Flat Hill Project.
- Shares in the business climbed 11.76% to $0.057 following the market update.
- The company plans to run airborne geophysical surveys and multi-element re-assays to refine future drill targets.
Renascor Resources (ASX:RNU) has identified multiple priority copper targets spanning a three-kilometre zone at its Flat Hill Project in South Australia.
The discovery follows a review of historical drilling data that revealed widespread copper mineralisation across a 500-square-kilometre area rather than isolated occurrences.
"In our view, the scale and distribution of these occurrences support the potential for a larger mineralised system extending beyond the individual prospects identified to date," said Renascor Resources Managing Director David Christensen.
Historical drill results from the site include an intersection of 18m at 1.57% copper from the surface, alongside another hole returning 134m at 0.57 per cent copper.
Renascor Resources stated that it plans to deploy modern exploration methods, including a high-resolution electromagnetic survey, to build a new pipeline of drill targets.
Following the announcement, the Renascor Resources share price was up at $0.055.
The Adelaide-based explorer primarily focuses on developing its flagship Siviour Battery Anode Material project to supply graphite for electric vehicle batteries.
