Demetallica’s 14,000m drilling program is well underway at the Jericho copper-gold deposit, with all 11 reverse circulation holes to date showing visible copper sulphide mineralisation.

Demetallica began trading on the Australian Securities Exchange last week, formed after Minotaur Exploration spun out its non-kaolin projects in Queensland and South Australia. 

Jericho is the cornerstone of Demetallica’s Chimera polymetal project, south-east of Cloncurry, and hosts an established JORC 2012 inferred mineral resource estimate of 9.1Mt garding at 1.4 per cent copper, 0.3g/t gold and 1.6 g/t silver.

the company has two rigs on site for a 55-hole program at Jericho.

It includes RC infill drilling within the Matilda and Jumbuck shoots at shallow depth, aimed at increasing the confidence level of the resource in two locations.

Extensional diamond drilling is aimed at expanding the resource down-plunge where mineralisation is entirely open.

Demetallica said high-grade copper was intercepted previously in the deepest drill holes within the Matilda, Jumbuck and Billabong shoots.

Weighted average copper grades for those drill intercepts for each of the shoots are 2.12 per cent at Matilda, 2.85 per cent at Jumbuck, and 2.38 per cent at Billabong.