Striking High-Grade Gold Results Power Codrus Minerals' Drilling Plans at Bull Run
Codrus Minerals (ASX: CDR) has unveiled exceptional exploration results at its 100% owned Bull Run Gold Project in Oregon, USA, with new IP survey data identifying multiple large anomalies that coincide with high-grade gold and copper found in surface samples.
New Geophysical Targets Align with Outstanding Surface Samples
The company's recently completed 3D Induced Polarisation (IP) survey has successfully mapped chargeability anomalies measuring up to 400 metres by 400 metres, with values reaching an impressive 50mV/V. These substantial anomalies align perfectly with high-priority geochemical targets identified through surface sampling.
Rock chip samples collected from key target zones have returned extraordinary precious metal values, similar to the high-grade gold discovery at North Stawell Darlington:
| Zone | Gold Values | Additional Metals |
|---|---|---|
| Eldorado | Up to 28g/t Au | 1.5% Cu |
| Lady May | Up to 60g/t Au | 2.5% Mo (molybdenum) |
The integration of these datasets has generated multiple new exploration targets that will guide Codrus Minerals' upcoming drilling program, with the company already in the final stages of securing a drilling contractor.
Historical Context Underscores Significant Potential
Bull Run's exploration potential is further supported by historical drilling which intercepted high-grade gold mineralisation, including:
- 20.5m @ 3.53g/t Au from 7.9m (including 6.9m at 9.31g/t Au) in hole DDH34-82-1
- 44.4m @ 0.73g/t Au from 10.7m (including 6.5m at 2.37g/t Au) in hole DDH34-82-3
Soil sampling has identified coherent gold anomalies reaching 0.5g/t Au and peaking at over 1g/t Au, with localised samples returning up to 27g/t Au. Furthermore, these results are reminiscent of the recent gold discovery at Sunshine Metals' Tigertown which created significant investor interest in the sector.
"The integrated interpretation of our recent geophysical and geochemical programs has delivered a major step forward in unlocking the potential of the Bull Run Project. The scale and intensity of the IP anomalies, combined with the impressive rock chip results, strongly support the presence of a robust mineralising system."
— Greg Bandy, Executive Chairman
Understanding Induced Polarisation Surveys
Induced Polarisation (IP) surveys represent one of the most effective geophysical techniques for mineral exploration, particularly for identifying sulfide-associated mineralisation that often hosts gold and copper.
The technique works by measuring how ground materials respond to electrical currents. Specifically:
- Chargeability measures how well the ground holds an electrical charge (typically indicating sulfide minerals)
- Resistivity measures how well the ground resists electrical current flow
High chargeability anomalies (like the 50mV/V values seen at Bull Run) often indicate concentrations of sulfide minerals that can be associated with gold and copper deposits. When these anomalies coincide with high-grade surface samples, as they do at Bull Run, they become compelling drill targets.
As Codrus Minerals unveils Bull Run drilling plans, these IP survey results play a crucial role in defining the most prospective areas for exploration, much like the approach used in the drilling campaign at the high-grade Penny South Mine.
Upcoming Drilling Program to Test High-Priority Targets
Codrus Minerals is now advancing rapidly toward drilling at Bull Run, with multiple high-priority targets defined across the property. The company reports being in the final stages of engaging a drilling contractor, with operations expected to commence shortly.
The drilling program will target:
- Areas where IP chargeability anomalies coincide with high-grade surface samples
- Extensions of historical high-grade intercepts
- Five priority gold targets identified through soil sampling, each with strike lengths up to 500 metres
This systematic approach reflects the company's methodical exploration strategy as Codrus Minerals unveils Bull Run drilling plans designed to test the most promising targets identified through its recent work.
Investment Opportunity: Why Bull Run Matters
Codrus Minerals' Bull Run Project represents a compelling investment opportunity for several key reasons:
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Historical Production: The area has produced high-grade gold since 1929, with records indicating approximately 5,000 ounces of gold production between 1933-1937.
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Excellent Infrastructure: Located just 5 miles south of Unity, Oregon, the project benefits from good access and proximity to services.
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High-Grade Surface Indications: Rock samples returning values up to 60g/t Au suggest potential for economically significant mineralisation.
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Large Target Areas: With IP anomalies measuring up to 400m × 400m and multiple consistent gold in soil anomalies, the project offers considerable scale potential.
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100% Ownership: Codrus holds 100% ownership of 91 claims and has an option agreement for an additional 11 claims, providing full exposure to exploration success.
Why Investors Should Follow Codrus Minerals
Codrus Minerals represents an attractive exploration opportunity with imminent catalysts. The company has methodically built a compelling case for significant gold mineralisation at Bull Run through systematic exploration, combining historical data with modern techniques.
As Codrus Minerals unveils Bull Run drilling plans, investors can anticipate a steady flow of news as the company tests its newly defined targets. The combination of historical high-grade results, exceptional surface samples, and coincident geophysical anomalies creates a strong foundation for potential discovery success, similar to the impressive drilling success at Mt Palmer.
For investors seeking exposure to advanced-stage gold exploration with near-term drilling catalysts, Codrus Minerals offers a compelling opportunity to participate in what could become Oregon's next significant gold discovery. The upcoming drilling program represents a crucial phase as Codrus Minerals unveils Bull Run drilling plans that could potentially validate the project's considerable promise.
Moreover, the significant gold intersections at Koonenberry demonstrate the potential rewards for companies that successfully execute well-planned drilling campaigns, providing an encouraging precedent for Codrus Minerals' upcoming work at Bull Run.
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