Minerals 260 Limited announced that it has received assays for a further nine holes from the recently completed drilling program at its 100%-owned Moora Project, which is located ~150km north-east of Perth in the Julimar Mineral Province of SW Western Australia. The Moora Project forms part of a contiguous, 1,000km2 land position which also includes the adjacent Koojan JV, where the Company is in joint venture with Lachlan Star Limited and has the right to earn up to 51% equity. In January 2022, the Company completed a 37-hole/6,196m diamond core/Reverse Circulation (RC) drilling program over prospects coincident with the Mt Yule Magnetic Anomaly, with the primary focus being on the Angepena gold prospect.

RC holes were also drilled at the Mynt and SEZ prospects, located on the northern and south-eastern margins of the Mt Yule magnetic anomaly respectively. Results have previously been reported for four holes (MRRD0001 ­ 0004) from the Angepena prospect­ see ASX release dated 3rd February 2022. The latest results include assays from a single RC hole (MRRC0040) drilled into the Mynt prospect (formerly Northern Zone) and eight drill holes (MRRD0005, MRRC0015 ­ MRRC0021) drilled at the Angepena prospect.

HIGHLIGHTS: Reverse Circulation (RC) drill hole (MRRC0040) targeting a previously defined off-hole conductor at the newly named Mynt prospect (formerly the Northern Zone) intersects: 24m @ 1.9% Cu and 0.7g/t Au from 99-123m, including: 14m @ 2.9% Cu and 1.1g/t Au from 100-114m; and 2m @ 5.1% Cu and 1.3g/t Au from 100-102m. Mineralisation hosted by a quartz-veined zone with disseminated to semi-massive chalcopyrite and pyrrhotite. The intersection is located ~65m down-dip of a previously reported intersection of 9m @ 2.1% Cu (MRAC0012), hosted by completely oxidized bedrock.

The copper-gold mineralisation is coincident with: A 1.5km long copper-in-soils anomaly (>100ppm Cu); A 1km long, partially defined Gradient Array Induced Polarisation (GAIP) anomaly; and An arcuate magnetic high. The coincidence of mineralisation with significant geochemical and geophysical anomalies indicates the potential for a large sulphide-related system. Previous shallow, wide-spaced air-core drilling has only intersected oxidised bedrock and is not considered an effective test.

A Moving Loop Electro-Magnetic (MLEM) survey has defined a second potential conductor ~600m to the south-east, with similar characteristics to the EM anomaly targeted by MRRC0040. This second potential conductor is also coincident with a 700m long copper-in-soils anomaly. Further GAIP and down-hole EM surveys are planned prior to follow-up drilling at Mynt.

Assays received for a further eight drill holes completed at the Angepena prospect, located ~1.5km south-west of the Mynt prospect. The results confirm the continuity of gold mineralisation ­ which has now been intersected on five sections over 400m of strike with the system open in all directions. Assays are pending for 23 holes drilled as part of the initial 37-hole/6,196m RC/diamond core drilling program completed in January 2022, which largely targeted the Angepena prospect.

Data from an ongoing project-scale, 400x400m gravity survey indicate that the Mynt and Angepena prospects are located on the margins of a major NW/SE trending gravity high extending over 10km in length and up to 3.5km wide. This gravity high is interpreted to be caused by a mafic/ultramafic intrusion. Large parts of this gravity feature have not yet been explored, making it a highly prospective target.