Golden Globe Resources has reported rock-chip samples grading up to 4.22% copper at the historic Burns Spur mine, while follow-up drilling at Dooloo Creek missed its modelled breccia target. The explorer ended September with approximately A$2.4 million in cash and is awaiting assay results from its Alma Project.
- Rock-chip samples returned up to 4.22% copper, 57ppm silver and 0.47ppm gold
- Historic Burns Spur drilling included 60m at 0.16% copper from surface
- Dooloo Creek drilling failed to intersect the modelled breccia due to faulting and structural complexity
- Alma Project Phase 1 sampling and mapping completed, with assays pending
- Quarter-end cash stood at approximately A$2.4 million
Burns Spur samples strengthen copper-gold exploration case
Golden Globe Resources Ltd (ASX:GGR) has found some of its strongest surface copper evidence yet at the historic Burns Spur mine in Queensland, with rock-chip samples returning up to 4.22% copper alongside silver and gold. The result adds fresh momentum to the Dooloo Creek Project, although the samples are surface observations and do not establish the continuity, scale or economic viability of mineralisation.
The standout sample contained 4.22% copper, 0.045 parts per million gold and 9ppm silver. Another returned 2.29% copper, 0.47ppm gold and 57ppm silver. Mapping also identified mineralisation in brecciated, hydrothermally altered intrusive rocks, while historic drilling included 60 metres at 0.16% copper from surface. These results build on the earlier Burns Spur copper results, which highlighted both recent rock-chip grades and a reappraisal of 1970s drilling.
Golden Globe describes Burns Spur as part of an underexplored intrusive complex considered analogous to regional systems hosting significant mineralisation. Historic copper and molybdenum workings, together with anomalous gold and copper in older stream-sediment, rock-chip and drill samples, have helped define the target. Further fieldwork was completed during the quarter, but assays from the latest site investigation had not been received by the reporting date.
Dooloo Creek drilling misses breccia target
The quarter delivered a more complicated result at Dooloo Creek’s Eastern Breccia. Three diamond holes, EB002, EB003 and EB004, were attempted for 704.4 metres, but major faults prevented the holes from intersecting the target as modelled. The company says the work improved its understanding of the system’s structural setting, rather than confirming an extension of the mineralised breccia encountered in discovery hole EB001.
EB002, drilled beneath and 90 metres northwest of EB001, cut several fault zones and sulphides but no significant gold. EB004, drilled above EB001, intersected sericite-pyrite alteration and significant sulphides interpreted as marginal to the breccia body, with different geochemistry. The outcome marks a setback for the immediate drilling thesis, even as the company argues that faulting has offset the mineralisation rather than eliminated the broader system. Its proposed response is to test the structure with southeast-northwest holes, at right angles to the direction of the earlier drilling. The campaign formed part of the Phase 2 Dooloo drilling, which was designed to test deeper breccia and skarn targets.
Alma advances to the assay stage
At the Alma Project, Golden Globe completed Phase 1 mapping and sampling across Area A in late September. Soil, stream-sediment and rock-chip samples were submitted in early October, with results still pending. The company is targeting a potential Mount Morgan-style copper-gold system, alongside epithermal gold, and plans to use the results with existing geophysical modelling to identify areas for possible drilling.
Alma contains three principal target areas: Area A is primarily anomalous for gold, Area B for gold and copper, and Area C for copper. The broader program will also assess four historic copper-gold prospects that reported up to 0.8 grams per tonne gold and copper grades ranging from 1.35% to 9.1%. Those figures are historical exploration results, not a current mineral resource or reserve estimate.
Cash position and tenure remain important constraints
Golden Globe held approximately A$2.4 million at the end of September, after reporting A$212,400 in related-party payments for the quarter, including directors’ fees and statutory superannuation. The company said additional expenses and working capital were about A$216,000 above its prospectus allocation, largely offset by offer costs running approximately A$223,000 below budget.
The near-term exploration story therefore rests on a sequence of pending and redesigned tests: Burns Spur assays, Alma’s first-phase results and a revised Dooloo Creek drilling approach. A renewal application for the reduced Ridler Creek tenement area was still being processed at quarter end, adding a separate permitting consideration as Golden Globe decides how quickly to commit its remaining exploration cash.
Bottom Line?
The next assays could determine whether Burns Spur becomes a genuine priority, while Dooloo Creek now depends on a structurally revised drilling design and disciplined use of a A$2.4 million cash balance.
Questions in the middle?
- Will follow-up Burns Spur assays confirm that the high-grade surface copper is continuous beyond the sampled workings?
- Can southeast-northwest drilling locate the fault-offset breccia mineralisation at Eastern Breccia?
- Will Alma’s pending Area A assays produce targets strong enough to justify drilling before cash resources tighten?