Develop (ASX:DVP) return record intercept from refiring Woodlawn

Develop’s new Woodlawn Project in New South Wales is set to improve significantly with the discovery of high-grade copper-zinc-silver assays, resulting in a potential upgrade of resources. The thickest intercept was found, indicating a positive development.

A thick 75m @ 2.1% Cu, 3.1% Zn and 8.9g/t Au intercept now stand as the record strike from the B Lens, coming home alongside multiple high-grade polymetallic intersections in a new G Lens section, and copper-rich intercepts which continued the expansion of a recently identified J Lens.

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DEVELOP FPO [DVP]

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All holes intersected mineralisation outside the current underground resource, and Develop Managing Director Will Beament said it was a very exciting time for everyone involved.

“This intersection within the B Lens is astonishing and shows that the Woodlawn geological system is developing into something special. You normally only see thickness like this within a porphyry system, but at a fraction of this grade.

“The thickest ever intersection, combined with the discovery of a new, high-grade copper section of J lens confirms Develop’s strategy that aggressive drilling will lead to substantial increases in the project Resources.”

“We always believed that once we started drilling the orebody the results would be good, however we were never expecting an immediate high-grade copper discover at J Lens, or a 75 metre intersection in the B Lens.”

The Woodlawn mine once processed 13.8Mt of ore, and after its closure in 1998, was acquired by Heron Resources, who poured in $340 million to develop the project’s underground mine and processing plant before being placed in administration.

And the expansive tenement package is now under Develop control after paying just $30m upfront. The company looks to add significant weight to a 7.3 million tonne underground JORC resource grading at 13.2 per cent zinc equivalent and continue to de-risk a production restart.

The 22,500-metre, 53-hole diamond drill program continues to turn and Develop the return of 85 per cent of assays.

Significant results:

• 75.0m @ 2.1% Cu, 3.1% Zn and 8.9gpt Ag from 351.0m (23WNUD00011) – B lens
  – Including 8.0m @ 3.6% Cu, 13.9% Zn and 17.6gpt Ag from 375.0m
  – And 12.0m @ 1.0% Cu, 3.9%Pb, 6.2% Zn and 36.3gpt Ag from 20.0m – G Lens
  – And 9.3m @ 0.4% Cu, 2.8% Pb, 5.6% Zn and 18.0gpt Ag from 285.7m – A Lens
• 2.1m @ 4.1% Cu, 1.0% Zn and 44.7gpt Ag from 103.8m (22WNUD0005) – G Lens
  – And 5.7m @ 1.3% Cu from 497.0m – J Lens
• 14.5m @ 1.4% Zn from 679.5m (23WNUD0001) – C lens
• 4.9m @ 0.7% Cu and 2.0% Zn from 346.1m (23WNUD0005) – A lens
• 14.2m @ 0.7% Cu, 4.2% Zn, 2.6%Pb and 25.9gpt Ag from 11.1m (23WNUD0006) – G lens
  – And 6.8m @ 2.9% Cu and 8.6gpt Ag from 471.1m – J lens

Woodlawn 2023 drilling programme drill hole intercepts (north view cross-section)

DEVELOP FPO [DVP]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Develop Global Limited, together with its subsidiaries, engages in the exploration and development of mineral resource properties in Australia. The company primarily explores for copper, zinc, lead, silver, and gold deposits. It also provides underground mining services. In addition, the company holds interest in the Sulphur Springs project that includes Sulphur Springs and Kangaroo Caves deposits and tenements, as well as the Whim Creek Joint Venture project, located to the south west of Port Hedland; and the Woodlawn zinc-copper project is located at Lachlan Fold belt in New South Wales. Develop Global Limited was formerly known as Venturex Resources Limited and changed its name to Develop Global Limited in October 2021. The company was incorporated in 2006 and is based in West Leederville, Australia.

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