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C29 - C29 Metals

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C29 Metals Limited is a minerals exploration company that was incorporated in October 2020 for the purpose of identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia. The Company has entered into the Acquisition Agreements pursuant to which the Company will acquire a 100% legal and beneficial interest in a number of tenements which will comprise four separate projects, as follows:

(a) the Sampson Tank Project located in New South Wales;
(b) the Reedy Creek Project located in New South Wales;
(c) the Torrens Projects located in South Australia; and
(d) the Stadlers Project located in Western Australia.

The Sampson Tank Project is located in the World Class Lachlan Fold Belt, within the southern portion of the Ordovician Girilambone Basin in Central West New South Wales (NSW). It is centred approximately 130km northwest of Parkes and 20km northwest of Tottenham, NSW. Targets identified to date support the concept of deformed and remobilized Besshi-type Volcanic Associated Massive Sulphide (VAMS) mineralisation. Limited historical in-ground exploration has occurred at the Sampson Tank tenement and offers the potential to define a VAMS hosted copper (±gold) deposit. Approximately 20km away is both the Collerina Discovery Copper-Gold (Helix Resources, ASX:HLX) and Tottenham Copper-Gold deposits (Mincor, ASX:MCR).

The Reedy Creek Project is located 20km west of the township of Cudal in the Eastern Lachlan Fold Belt of Central NSW. The project is located 60km west of Orange a major regional centre. The Reedy Creek Project is considered prospective for hydrothermal polymetallic (Au-Cu-Pb-Zn-Ag) deposits associated with the Middle Devonian Dulladerry Volcanics, within the Lachlan Transverse Zone. Historical exploration data has identified potential for sulphide rich polymetallic (Au-Cu-Pb-Zn-Ag) skarn, breccia hosted gold-base metal and epithermal gold deposits in a number of structural & lithological settings within the tenement. Several are ready for drill testing.

The Torrens Projects comprise of two exploration licence applications which collectively cover 1,768km2 in the Olympic Dam iron oxide copper gold (uranium) (“IOCG”) province of the Stuart Shelf in central South Australia. One project is located approximately 50km of the BHP’s IOGC Olympic Dam Mine and recently discovered Oak Dam Project and adjacent to other IOCG discoveries including FMG/TAS Volcan Project and ARE/AIS Lake Torrens Project. Historical exploration has intercepted copper mineralisation and exhibit sizable host environments and alteration. Geophysical modelling has identified multiple high quality IOCG targets. While previous drilling at West Mount intersected copper mineralisation (28m @ 0.34% Cu) with IOCG alteration and granitoid breccias.

The Stadlers Project is located in the Ashburton Basin of WA, approximately 60km south of Paraburdoo, near Mt Boggola. Historical results are prospective with significant copper rock chip samples and drilling intersects encountered, including B49 with 9m at 1.86% Cu from 47m depth. Despite having historical exploration, a clear mineralisation model has not been developed for the prospect nor has the mineralisation been closed off; while an 800m long EM conductor anomaly remains untested. The current geological model is believed to be associated with a sedimentary exhalative (SedEx) style mineralisation, which are feed via deep sourced fluids, none have been explored for and thus identified yet.

It is anticipated that C29 will list on the ASX during October 2021.

 

Dona Ferentes

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not sure if the Listing Date will be before Offer Close Date ?!?!?

Listing date01 October 2021 12:30PM AEST ##
Contact detailshttps://c29metals.com.au/
Ph: +61 8 6559 1792
Principal ActivitiesMineral exploration with a primary focus on identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia.
GICS industry groupTBA
Issue PriceAUD 0.20
Issue TypeOrdinary Fully Paid Shares
Security codeC29
Capital to be Raised$5,000,000
Expected offer close date11 October 2021
UnderwriterNot underwritten. Trident Capital Pty Ltd (Lead Manager)
 
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