After a disappointing first hole, IDEX Metals’ (IDEX.V) second hole of its exploration program on the Kismet zone of the Freeze property returned a much better result.
The drill bit returned about 421 meters of 0.37% copper, 1.96 g/t silver, 192 ppm molybdenum and 419 ppm tungsten over the entire length of the hole, with the mineralization starting at less than 2 meters downhole. The true thickness of the interval is currently unknown.
While that already is an interesting hole, there are several higher-grade intervals within the wider 421 meter interval. The bullet points below highlight the three higher grade intervals.
This makes it clear the 421 meter interval and even the 251 meter interval are predominantly fueled by the higher grade interval. The residual copper grade in the remaining 150 meters of the 251 meter interval is approximately 0.22% copper after singling out the 101 meters of 1.02% copper.
And based on the table above, it is clear the vast majority of the mineralization is located within the first 250 meters of the hole, as the residual 170 meters have an average grade of just 0.12%. And that’s fine. Encountering 250 meters at 0.73% copper-equivalent, almost starting at surface is a good result by any metric and we are looking forward to seeing the eventual true width of the mineralization, and to see more details on the metallurgy of this mineralization.
We are now also looking forward to seeing the assay results of hole 3 and 4 at Kismet (shown in the image at the top of this update) to see if the thick layer of mineralization can be extended.
Disclosure: The author has a long position in IDEX Metals. IDEX is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
