Reward Minerals confirms historic high-grade copper mineralisation and expands exploration targets at its Copper Lance Project in Newfoundland, revealing promising new copper-gold prospects along an 8km magnetic trend.
- Rock chip assays up to 29% copper confirm historic high-grade mineralisation
- New soil sampling defines multiple high-priority copper-gold targets
- Anomalous copper coincides with discrete magnetic and EM anomalies
- Exploration focused on Volcanogenic Massive Sulphide and Volcanic Redbed Copper systems
- Plans underway for VTEM airborne survey and follow-up drilling in 2026
Historic High-Grade Copper Confirmed
Reward Minerals Limited (ASX: RWD) has delivered a significant update from its 100%-owned Copper Lance Project in Newfoundland, Canada, confirming and expanding the prospectivity of this underexplored base metals asset. New rock chip sampling at the Hinds Lake Spillway prospect returned assays as high as 29% copper, validating historic high-grade results and underscoring the presence of substantial copper sulphide mineralisation within calcite-chlorite veins.
The project lies within the prolific Dunnage Zone, a globally recognised volcanic belt known for hosting Volcanogenic Massive Sulphide (VMS) deposits. Reward’s recent field program not only confirmed these high-grade copper veins but also identified new copper mineralisation styles, including potential Volcanic Redbed Copper (VRB) systems, broadening the geological models for exploration.
Expanding the Exploration Footprint
Beyond confirming historic mineralisation, Reward’s soil sampling campaign has delineated multiple new high-priority copper-gold prospects along an 8-kilometre magnetic trend stretching between the Hinds Brook North and Conical Hill prospects. These anomalies coincide with discrete magnetic highs and electromagnetic (EM) anomalies, which are classic geophysical signatures associated with VMS and related copper systems.
Notably, the discovery of anomalous copper mineralisation aligned with these geophysical features significantly enhances the project’s exploration potential. The magnetic anomalies located approximately 1.5 kilometres southeast of the main mineralised trend remain unexplored, presenting fresh targets for Reward’s upcoming field activities.
Strategic Next Steps and Broader Ambitions
Reward’s CEO, Lorry Hughes, emphasised the encouraging nature of the initial field program results, highlighting the need for further work to refine exploration models and targeting criteria. The company plans to undertake additional soil and rock chip sampling, detailed geological mapping, and a new airborne Versatile Time Domain Electromagnetic (VTEM) survey over the central project area to better define priority targets.
These efforts aim to culminate in discovery drilling during 2026, potentially unlocking substantial base and precious metal deposits. Meanwhile, Reward continues to advance its broader portfolio, including critical minerals projects and patented processing technologies, positioning itself as a diversified player in the resource sector.
Context within a Rich Mining Province
The Copper Lance Project’s location within the Dunnage Zone places it in a highly prospective geological setting, with over 40 known base and precious metal deposits in the region. The project’s proximity to Deer Lake, which offers road access and an international airport, adds logistical advantages for exploration and potential development.
Historic exploration dating back to the 1980s and 2000s has provided a foundation of geological and geochemical data, but Reward’s recent work represents the first modern, systematic exploration effort, leveraging contemporary techniques and a comprehensive approach to unlock the project’s full potential.
Bottom Line?
Reward Minerals’ latest results set the stage for an intensified exploration campaign that could redefine copper prospects in Newfoundland’s Dunnage Zone.
Questions in the middle?
- Will upcoming VTEM surveys confirm new drill targets and extend known mineralisation?
- How will Reward prioritise targets between VMS and VRB copper systems for drilling?
- What are the potential timelines and capital requirements for advancing Copper Lance to resource definition?