Raptor assays expose Chester’s broader polymetallic potential

Copper Intersections Broaden Chester’s Mineralisation Picture

Raptor Metals Ltd (ASX:RAP) has found more than copper in the historic core underpinning its Chester Project in New Brunswick, with new assays returning substantial zinc, lead, silver and indium alongside broad copper-rich intervals. The strongest copper results include 22 metres at 2.14% copper, 28 metres at 1.67% copper and 32 metres at 1.38% copper, with copper equivalent grades of 2.58%, 2.03% and 1.91% respectively.

The polymetallic results are equally notable. One interval returned 13.87 metres at 1.84% copper, 3.62% zinc, 0.92% lead and 15.1 grams per tonne silver for 3.15% copper equivalent. Separate intervals included 11 metres at 4.26% zinc, 1.19% lead and 15.6 grams per tonne indium, while another delivered 4.5 metres at 4.23% lead, 9.64% zinc and 34.3 grams per tonne silver for 3.66% copper equivalent.

Archived Core Fills Gaps in the Chester Database

The program sampled 806.52 metres of archived diamond core from 22 historic holes inside Chester’s existing JORC 2012 Mineral Resource footprint. Raptor launched the work because selective historic sampling had left incomplete multi-element coverage across logged massive sulphide intervals. The company’s historic core assay program had previously been framed as a way to test Chester’s polymetallic potential without committing immediately to a new drilling campaign.

Results have been received for 19 holes, covering 641.52 metres, while assays from three holes remain pending. One hole returned no significant intercept. The new samples were analysed by an ISO/IEC 17025-accredited laboratory using four-acid digestion, with the company reporting generally acceptable certified reference material, blank and duplicate results.

Existing 6.685Mt Resource Moves Towards an Update

Chester currently hosts a near-surface resource of 6.685 million tonnes at 1.07% copper, reported at a 0.5% copper cut-off. That estimate comprises 4.87 million tonnes in the Indicated category at 1.13% copper and 1.82 million tonnes Inferred at 1.01% copper, with reported contained lead, zinc and silver in the Indicated portion.

Raptor says the new assays will be combined with recent drilling, geophysical interpretation and metallurgical work to refine Chester’s geological model and prepare an updated Mineral Resource Estimate. The project is interpreted as a stacked volcanogenic massive sulphide system with Central, East and Copper Stringer zones, placing the new multi-element data into a geological framework broader than a single copper lens. Recent Chester conductor targets had identified conductive systems for follow-up exploration, but neither those targets nor these assays independently establish additional resources.

Resource Extension Drilling Targeted for 2027

The immediate milestone is the updated resource estimate, followed by further geological modelling and prioritisation of potential extensions. Raptor has flagged a proposed 2027 drilling program to test the resource down dip and assess regional geochemical and geophysical targets, while metallurgical test work continues on PQ core collected during its 2026 diamond drilling program.

There are important qualifications in the numbers. The reported widths are downhole lengths, not confirmed true widths, and several historic holes carry limited quality-control information or incomplete original sampling. Raptor also notes that copper equivalent figures use assumed metal prices and recoveries, while indium is reported separately. The assays strengthen the dataset available for modelling; the next resource estimate will determine how much of that apparent strength can be incorporated into a formal mineral inventory.