Polymetals Uncovers New Massive Sulphide Zone Near Endeavor Mine

Discovery at Carpark Prospect

Polymetals Resources Ltd (ASX – POL) has announced a significant geological breakthrough with the discovery of a new zone of massive sulphide mineralisation at its Carpark prospect, located just south of the existing Endeavor Mine in New South Wales. Recent drilling, particularly hole PCP018A, intersected multiple bands of mineralised sulphides between 840 and 910 metres downhole, containing key metals such as galena, sphalerite, chalcopyrite, pyrite, and barite. These minerals are characteristic of the silver-lead-zinc mineralisation that defines the Endeavor deposit.

Extending the Known Mineralised Zone

The new mineralised zone appears to extend the known deposit both deeper underground and further south than previously documented. PCP018A lies approximately 120 metres below a historic drillhole DE138 and 100 metres below a recent hole PCP018, suggesting a substantial down-plunge extension of the mineralised body. Visual inspection of the drill cores indicates a coherent mineralised structure, which Polymetals believes could represent a significant addition to the Endeavor resource base.

Confidence to Accelerate Exploration

Encouraged by these findings, Polymetals is poised to ramp up its exploration activities at Carpark. The company plans follow-up drilling to delineate the full extent of the mineralisation both laterally and at depth. Executive Director Jess Oram highlighted the strength of their exploration model, noting that the discovery validates their predictive approach and opens the door to organically growing the mine’s resource base. The proximity of this new zone to existing infrastructure adds to its potential economic appeal.

Strategic Implications for Endeavor Mine

This discovery could be a pivotal development for Polymetals, potentially extending the life of the Endeavor Mine and increasing throughput at its processing mill. While assay results from PCP018A are still pending, the visual evidence alone has given the company sufficient confidence to accelerate drilling programs. If assays confirm high-grade mineralisation, this could translate into a meaningful boost to production forecasts and company valuation.

Looking Ahead

Polymetals’ announcement underscores the continued potential of the Cobar Basin as a prolific polymetallic province. The company’s disciplined approach to exploration and resource development is beginning to yield tangible results, positioning it well for future growth. Investors and analysts will be watching closely for assay data and subsequent drilling outcomes to better understand the scale and quality of this new mineralised zone.