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Demetallica Limited

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AU0000219537

Demetallica Limited Announces Copper Results from Jumbuck Shoot at Jericho

September 11, 2022 at 07:16 pm EDT

Demetallica Limited is delighted to report further on the recent RC drill program at its advanced Chimera Polymetal project located in the copper mining region of Cloncurry, QLD. Jericho continues to reward resource upgrade objectives with assays from another 7 holes delivering superb grade-width intersections within the Jumbuck shoot, most at shallow depths. Assays reveal exceptional continuity of high-grade copper mineralisation near surface Copper results benefit resource upgrade objectives, including: 9m @ 3.13% Cu & 0.7 g/t Au from 72m (from within 12m @ 2.61% Cu & 0.54 g/t Au), 8m @ 2.56% Cu & 0.33 g/t Au from 61m (from within 18m @1.70% Cu & 0.23g/t Au), 5m @ 3.19% Cu & 0.46 g/t Au from 115m (from within 9m @2.0% Cu & 0.29g/t Au), 6.85m @ 2.98% Cu & 0.26 g/t Au from 333m (from within 10.15m @ 2.33% Cu & 0.24 g/t Au).

Potential for high-grade, open pit copper development emerging, which could significantly enhance future development economics for Jericho New results point to strong potential for growth in the current resource with copper being intersected well below the resource limit of the Jumbuck shoot Assay results for the final 13 holes to be reported inside two weeks . Demetallica is on track to publish the Jericho Resource update in October 2022 De me tallica conclude d its inaugural 56-hole RC/DD campaign in August and recently reported assays from 36 holes. further 13 holes await assay results.

The report reinforces the exceptional continuity of high-grade copper mineralisation in the Jumbuck shoot of J1 Lode. Of the 26 drill intercepts reported within Jumbuck since discovery, 21 contain copper intercepts over 2% and 4 other holes reporting more than 1%. Copper mineralisation at Jumbuck has been intersected as shallow as 50m below surface.

An example of continuous, shallow high-grade copper mineralisation as a depth slice through the shoot. Drilling also indicates resource tonnage growth potential, mineralisation being intersected 400m below surface, well below the current resource limit of Jumbuck shoot.

Latest news about Demetallica Limited

8,914,631 Ordinary shares of Demetallica Limited are subject to a Lock-Up Agreement Ending on 26-MAY-2023.	23-05-25	CI
Demetallica Limited Announces Assays Results from its Maiden Drilling Program at the Peake and Denison Project	23-03-17	CI
Demetallica Announces Peake and Denison Drill Results	23-01-17	CI
Demetallica Limited Announces Executive Changes	22-12-15	CI
Demetallica Limited Announces Board Changes	22-12-05	CI
AIC Mines Limited completed the acquisition of Demetallica Limited from OZ Minerals Limited, Sandfire Resources Limited, Yarraandoo Pty Ltd and other shareholders.	22-12-04	CI
Demetallica Limited Announces Change of Directors	22-11-27	CI
AIC Mines Extends Off-Market Takeover Bid for Demetallica	22-11-25	MT
Demetallica Limited Announces Resignation of Andrew Woskett as Managing Director on Change of Control	22-11-17	CI
AIC Mines Declares Offer to Demetallica Unconditional	22-10-26	MT
Demetallica Updates Mineral Resource of Jericho Deposit	22-10-25	MT
Demetallica Limited Reports Its Inaugural JORC 2012 Mineral Resource Estimate	22-10-23	CI
AIC Mines Limited cancelled the acquisition of Demetallica Limited from OZ Minerals Limited, Sandfire Resources Limited, Yarraandoo Pty Ltd and other shareholders.	22-10-11	CI
Demetallica Reports Completion of Two Drill Holes Targeting the Mawson and Wills Copper Targets at Demetallica's 100% Owned Peake and Denison Project, South Australia	22-10-04	CI
Demetallica Limited Reports Earnings Results for the Full Year Ended June 30, 2022	22-09-27	CI
Demetallica Hits Copper, Gold at Queensland's Jericho Copper-Gold Project	22-09-20	MT
Demetallica Limited Reports Results for the Final 13 Holes of Its Maiden 56 Hole Rc-Dd Drill Campaign	22-09-20	CI
AIC Mines Launches Takeover Bid to Acquire Demetallica	22-09-19	MT
AIC Mines Limited offered to acquire Demetallica Limited from OZ Minerals Limited, Sandfire Resources Limited, Yarraandoo Pty Ltd and other shareholders for AUD 35.6 million.	22-09-18	CI
Demetallica Hits Shallow, High-Grade Copper at Jumbuck Shoot in Queensland	22-09-12	MT
Demetallica Limited Announces Copper Results from Jumbuck Shoot at Jericho	22-09-11	CI
Demetallica Limited Reports Progressive Drill Results from Its 100% Owned Jericho Copper-Gold Project, Cloncurry	22-08-30	CI
Demetallica Continues to Hit Strong Copper Grades at Queensland Copper-Gold Deposit	22-07-13	MT
Demetallica's Inaugural Drill Campaign At Its 100% Owned Jericho Copper-Gold Deposit Continues to Deliver Positive Assay Results	22-07-12	CI
Demetallica Hits Copper at Chimera Project	22-07-04	MT

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Demetallica Limited is an Australia-based minerals exploration company. The Company has a copper dominant high-grade base metals portfolio. The Company's copper gold projects include Chimera Polymetal Project, Peake & Denison Project, and Pyramid Gold Project. Its base metals project is Windsor Polymetallic Project. The Chimera Polymetal Project comprises approximately 21 tenements covering approximately 2,125 square kilometers. The projects are centered 70 kilometers (km) southeast of Cloncurry in Northwest Queensland, approximately 800 km west of the major regional coastal city of Townsville. The Peake & Denison project covers approximately 2,547 square kilometers and comprises four granted exploration licenses. The Pyramid Gold Project is located about 180 km south of Townsville. The project covers approximately 150 square kilometers. The Windsor tenements are located approximately 60 km south of Charters Towers in mid northern Queensland, covering 641 square kilometers.

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