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post Posted: Sep 14 2021, 10:33 AM
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C29 Metals Limited (C29) is a minerals exploration company that was incorporated in October 2020 for the purpose of identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia. The Company has entered into the Acquisition Agreements pursuant to which the Company will acquire a 100% legal and beneficial interest in a number of tenements which will comprise four separate projects, as follows:

(a) the Sampson Tank Project located in New South Wales;
(b) the Reedy Creek Project located in New South Wales;
.c) the Torrens Projects located in South Australia; and
(d) the Stadlers Project located in Western Australia.

The Sampson Tank Project is located in the World Class Lachlan Fold Belt, within the southern portion of the Ordovician Girilambone Basin in Central West New South Wales. It is centred approximately 130km northwest of Parkes and 20km northwest of Tottenham, NSW. Targets identified to date support the concept of deformed and remobilized Besshi-type Volcanic Associated Massive Sulphide (VAMS) mineralisation. Limited historical in-ground exploration has occurred at the Sampson Tank tenement and offers the potential to define a VAMS hosted copper (ągold) deposit. Approximately 20km away is both the Collerina Discovery Copper Gold (Helix Resources, ASX:HLX) and Tottenham Copper-Gold deposits (Mincor, ASX:MCR).

The Reedy Creek Project is located 20km west of the township of Cudal in the Eastern Lachlan Fold Belt of Central NSW. The project is located 60km west of Orange a major regional centre. The Reedy Creek Project is considered prospective for hydrothermal polymetallic (Au-Cu-Pb-Zn-Ag) deposits associated with the Middle Devonian Dulladerry Volcanics, within the Lachlan Transverse Zone. Historical exploration data has identified potential for sulphide rich polymetallic (Au-Cu-Pb-Zn-Ag) skarn, breccia hosted gold-base metal and epithermal gold deposits in a number of structural & lithological settings within the tenement. Several are ready for drill testing.

The Torrens Projects comprise of two exploration licence applications which collectively cover 1,768km2 in the Olympic Dam iron oxide copper gold (uranium) province of the Stuart Shelf in central South Australia. One project is located approximately 50km of the BHP's IOGC Olympic Dam Mine and recently discovered Oak Dam Project and adjacent to other IOCG discoveries including FMG/TAS Volcan Project and ARE/AIS Lake Torrens Project. Historical exploration has intercepted copper mineralisation and exhibit sizable host environments and alteration. Geophysical modelling has identified multiple high quality IOCG targets. While previous drilling at West Mount intersected copper mineralisation (28m @ 0.34% Cu) with IOCG alteration and granitoid breccias.

The Stadlers Project is located in the Ashburton Basin of WA, approximately 60km south of Paraburdoo, near Mt Boggola. Historical results are prospective with significant copper rock chip samples and drilling intersects encountered, including B49 with 9m at 1.86% Cu from 47m depth. Despite having historical exploration, a clear mineralisation model has not been developed for the prospect nor has the mineralisation been closed off; while an 800m long EM conductor anomaly remains untested. The current geological model is believed to be associated with a sedimentary exhalative (SedEx) style mineralisation, which are feed via deep sourced fluids, none have been explored for and thus identified yet.

Listing date... 01 October 2021 ; 12:30PM AEST ##

Contact details ....
Principal Activities .... Mineral exploration with a primary focus on identifying, exploring and developing prospective copper, gold and base metal assets throughout Australia.

Issue Price .... AUD 0.20
Issue Type ..... Ordinary Fully Paid Shares
Security code .... C29
Capital to be Raised .... $5,000,000

Expected offer close date ......11 (?) October 2021
Underwriter .... Not underwritten. Trident Capital Pty Ltd (Lead Manager)

"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

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