Polymetals Resources will ramp up exploration at the Endeavor silver-lead-zinc mine near Cobar, New South Wales in 2025 by drilling the Carpark prospect.
The Carpark prospect is one of nine near-mine exploration targets Polymetals has identified at Endeavor, with the company describing Carpark as a “potential southern extension to the Endeavor orebody, from which 32 million tonnes has been mined over a 38-year operating period”.
Polymetals has completed 12 reverse circulation (RC) core holes over Carpark over the past year, with all holes intercepting broad zones of anomalous lead and zinc mineralisation.
With downhole electromagnetic (EM) surveys having been undertaken and three ‘off hole’ EM conductor highs identified, Polymetals plans to commence the next phase of EM conductor plate drilling at Carpark in January 2025.
The drilling program will test whether the coincident induced polarisation (IP) chargeable and EM conductive high is a massive sulphide body at the southern extension of the Endeavor orebody. It will also determine the potential supergene mineralisation located above the interpreted massive sulphide.
“The company has completed its compilation of the (approximate) 50 years of historic exploration data,” Polymetals executive chairman Dave Sproule said.
“This is the first time a comprehensive database has been consolidated over the area and encompasses data from historic explorers including Metals Ex, Getty Oil, Electrolytic Zinc Australia, Newmont, Delta Gold, Pasminco, CBH Resources and Sandfire Resources.
“We are now able to begin testing the vast array of copper, gold and silver-lead-zinc targets across the portfolio. With cashflow imminent, Polymetals plans to ramp up its exploration activities over its entire Endeavor project tenure.”
Before it begins drilling, Polymetals’ initial works at Carpark will consist of 18km of IP survey lines and geological mapping programs across several prospects.
Endeavor’s mine plan outlines a 10-year operation and production of 260,000 tonnes (t) of zinc, 10.6 million ounces of silver and 90,000t of lead.