New Duck Creek discovery delivers for Transition

Transition Resources has hailed 'spectacular' copper assays from its Artefact discovery at the Duck Creek project south-west of Cloncurry. “The Artefact discovery is shaping up as the highest-grade deposit yet discovered at our Duck Creek copper project and includes a very high-grade central zone that is expected to average over 4 per cent copper," Transition founder and managing director David Wilson said. Recent notable assay results include: Transition founder and managing director David Wilson. 7m at 5.68 per cent copper from 90m downhole ( about 87m from surface, estimated true width about 4.8m), including 3m at 12.37 per cent copper from 92m (ETW about 2.1m) 7m at 7.65 per cent copper from 84m ( about 78m from surface, ETW about 5.5m), including3m at 17.31 per cent copper from 85m (ETW about 2.4m) Mr Wilson said the average grade of all informing Artefact intervals received to date from the lab (12 of 28 drill holes) was about 3.2 per cent copper. "Significantly, these high-grade intervals are open at depth and occur immediately above one of the largest, and deepest, conductive geophysical anomalies identified at Duck Creek," he said. "It’s an exciting target, and we are seeing exciting copper results.” Image at top of page: Drill chips from an RC drill hole at Artefact. Transition is prioritising profitable resources over big resources, through a two-phase development model starting with early revenue and high earnings per share. Related: Transition declares significant copper discovery The company points to its high-grade new discoveries, which require minimal upfront capital expense and can be monetised quickly through open-pit mining methods and toll-treating at third-party processing plants. "Third party toll-treating adds to processing costs, but it also comes with huge benefits," Mr Wislon said. "Transition avoids the large up-front capital expense of building a stand-alone processing plant; it avoids environmental permitting delays associated with chemical processing and contaminated tailings facilities; it avoids construction risk and possible cost blow-outs; it avoids substantial shareholder dilution to fund everything during the pre-revenue phase; and, by expediting revenue, it reduces the impact of discounted cash flows. "Most importantly, by utilising existing processing assets rather than building new ones, Transition optimises its circular economy focus, and significantly reduces its environmental footprint." You may also like: https://industryqld.com.au/carnaby-hails-discovery-of-new-copper-corridor/

New Duck Creek discovery delivers for Transition

Industry Queensland

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