Cullen Resources Limited (ASX:CUL) Exploration Update
Drilling Results Summary
Cullen Resources Limited (ASX:CUL) has received results from its first pass “slimline” reverse circulation (RC) drilling at the Wongan and Rupert Prospects. Five holes were drilled to evaluate induced polarisation (IP) anomalies and to gather lithological and geochemical data for potential follow-up drilling.
The WHRC020 hole at Wongan tested an IP anomaly and revealed basalt with minor felsic stingers, as well as traces of pyrite. The subsequent four holes (WHRC021-024) explored the Rupert IP anomaly, intersecting diverse lithologies including mafics and BIF, with WHRC022 returning significant results: a 40-metre section of partially oxidised pyritic cherty BIF containing 1335 ppm copper and 1.42 g/t silver at depth. This remains a prime candidate for the IP response source.
Future Drilling Objectives
Despite the intersected mineralogical findings, the lower-than-expected grades in precious and base metals suggest no immediate justification for deeper drilling of the current IP targets. However, surface geochemical anomalies in the vicinity of the Rupert IP anomaly warrant further investigation, as does the location of VTEM anomalies at Wongan.
Next Steps in Exploration
Cullen Resources plans additional exploration, focused on understanding the significance of these geochemical surface anomalies and exploring potential lateral extensions to the detected anomalies. The company is committed to a methodical approach in refining targets based on extensive geophysical and geochemical data, with the goal of advancing its exploration programme at Wongan Hills.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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