Commodities Buzz: Copper hotspots identified in northern Australia

Recent data released by the Northern Australian Geochemical Survey reveal that there are potential copper hotspots on the Queensland-Northern Territory border. This is according to the Minister for Resources and Northern Australia Senator Matt Canavan who, in interview with The North West Star, explained that surface soil samples collected at 776 sites yielded significant concentrations of copper, zinc and nickel. In the politicians view, this geochemical information provides clues of target areas where deposits might exist below the surface.

Canavan also told the newspaper that the new data complements existing regional gravity data, as well as seismic data and geology maps from the South Nicholson Basin that were recently produced and which show that the basin is three times larger than previously thought. Based on these results, the Minister for Resources said that the largely unexplored area that extends between the well-known mining hubs of Tennant Creek and Mount Isa is a vast prospective site.