Morgans Interview with our MD, Philip Condon at the  Noosa Mining & Exploration Conference 2021

Duke has announced a maiden inferred mineral resource estimate for the Mt Flora copper-silver deposit within its flagship Bundarra project in central Queensland.

Domestic and international investors are backing Duke and its string of copper exploration success by subscribing for a $8m share placement.

Induced polarisation work has indicated that Duke’s Quorn copper prospect in Queensland could be much larger than its already sizeable Mt Flora project.

Recently-completed geophysical work at the Quorn prospect within Duke Exploration’s (ASX: DEX) high-priority Bundarra copper project in central Queensland suggests it could be up to five times larger than the nearby Mt Flora target.

Duke’s upcoming resource estimate for its Mt Flora project could exceed expectations after drilling quadrupled the width of the mineralised area.

Duke Exploration (ASX: DEX) is confident a new round of assays from reverse circulation drilling at its high-priority Mt Flora prospect within the Bundarra copper project area in central Queensland will build on the yet-to-be-released maiden resource estimate.

Duke Exploration (DEX) has intersected visible copper mineralisation at the Mt Flora deposit which is part of the Bundarra Project in Queensland. The company has almost completed the first phase of resource reverse circulation (RC) drilling. A total of 46 holes have been completed since the RC program started and 7750 samples have been sent for assaying — 4750 of which have been received.

Duke Exploration’s (ASX: DEX) copper exposure in central Queensland has expanded with the grant of exploration permit EPM 27609, which covers the Waitara copper and silver porphyry prospect.

Special Report: Maiden drilling at Duke Exploration’s (ASX:DEX) Quarry discovery hits “better than expected” shallow intersections like 7m at 3.85 per cent copper, 58.2 g/t silver and 0.1 g/t gold.

Duke’s Bundarra project in Queensland is dotted with ~50 historic high-grade copper, silver and gold workings.

The mineralisation around the Bundarra ‘pluton’ (the magma chamber of an extinct volcano) is classed as a lode-style porphyry mineral system, which Duke says, “can form significant tier-one deposits”.

Mt Flora, Australia’s highest-grade copper mine in the 1800s, is an early stage target.

Recent ASX debutant Duke Exploration’s (ASX: DEX) preliminary exploration at Quorn has been more successful than the company anticipated with an induced polarisation survey identifying “extensive” anomalies at the central Queensland project.

According to Duke, the gradient array induced polarisation survey at Quorn was the first modern exploration at the site.
Duke chairman Toko Kapea said the IP survey results were “better than expected” and confirm the company’s theory that it is exploring a “very large mineral system” at the wider Bundarra project.

The company is replicating the exploration strategy it is pursuing at the Mt Flora prospect which is 10km away and where resource drilling is underway.

With the IP results, Mr Kapea said it had confirmed the company’s suspicions the Quorn mineral system is bigger than Mt Flora. The anomalies at Quorn are larger and stronger, which Duke has interpreted being a result of larger and well-mineralised sulphide vein systems.

Special Report: The first modern exploration at Duke’s Quorn copper prospect has lent further support to suspicions that it might be bigger and more extensive than Mt Flora.

While the anomalies mapped by the induced polarisation survey are similar to those present at Mt Flora, though they are all larger and stronger at Quorn.

Duke Exploration (ASX:DEX) says this is interpreted as being due to more extensive and well mineralised sulphide vein systems.

Of particular note is the southern sectional anomaly, which is the largest and most depth-extensive conductivity anomaly mapped at the broader Bunderra project in Queensland.

This has been marked as an immediate new high priority target for follow-up higher resolution geophysical surveys and potential drill testing.

Reverse circulation drilling is ongoing at Mt Flora while the company is currently sourcing a second rig to fast-track resource and exploration drilling over Mt Flora, Quorn and the Quarry prospects.

“The results from the geophysical survey are better than expected and continue to confirm our belief that we are exploring a very large mineral system at Bundarra where new discoveries will continue to be made into the future,” chairman Toko Kapea said.

“We suspected the mineral system in the Quorn area might be bigger and more extensive than at Mt Flora and the gradient array IP survey has confirmed this.

Special Report: What’s so exciting about Duke Exploration’s Bundarra copper project? Answer: It could be a very large deposit

Duke Exploration (ASX:DEX) has gained a very impressive 92 per cent since listing on the ASX mid-November.

Investors that poured into the oversubscribed $8m IPO knew Duke’s management team from the (re)discovery of the ~675,000oz Tampia gold deposit in WA.

Special Report: ASX newcomer Duke Exploration has doubled the length of known copper mineralisation for its Mt Flora prospect in down dip drilling at its main Queensland project.
Weeks after arriving on the ASX through its oversubscribed $8m IPO, Duke Exploration (ASX:DEX) has announced some early stage drilling hits for Mt Flora, a historic copper mine within its agship Bundarra tenement in Queensland.

Duke Exploration (ASX: DEX) has confirmed that all holes drilled to date at the Mt Flora prospect within the high-priority Bundarra copper project area in central Queensland have intersected visible copper mineralisation.
A program of pattern reverse circulation drilling has seen 15 holes completed so far for a total 2,309m. 

Special Report: Newly listed Duke Exploration (ASX:DEX) – which uses advanced tech, data analysis, and geophysical techniques to increase the chance of a big discovery – gained 8 per cent on its first day on the ASX.

The $8m raised in Duke’s oversubscribed IPO will be used to explore for large tonnage copper, gold and silver deposits at its flagship Bundarra project in central Queensland.

This project sits on a large geological feature called the ‘Bundarra Pluton’…

COPPER-focused Duke Exploration launched itself on the ASX this morning with a discovery, following a successful initial public offer.

Duke started its post-float life as a public company with A$8 million from its fully-subscribed IPO and drilling results that could have big implications for the size of the prize at its flagship

Upcoming ASX debutant Duke Exploration (ASX: DEX) is looking to list this week, with drilling already underway at its flagship Bundarra copper, silver and gold project near Mackay in Queensland.

Duke revealed its $8 million IPO had successfully closed with an ASX listing scheduled for Tuesday 10 November.

Copper-gold focused Duke Exploration is the latest initial public offering (IPO) to come to market based on brownfield projects with long histories.

With projects inland from Mackay and near Rockhampton in Queensland, and in New South Wales, the company — which will trade under the ticker ‘DEX’ — is seeking to raise $8 million by issuing 32 million new shares at $0.25 each.

Duke is seeking to raise A$8 million at 25c per share to fund two years of exploration, with around $5.

Matt Badiali, an independent financial analyst,  presents the investment case for copper.

Copper will be the next metal to break out in 2020, and it’s all about demand.

The price of copper just broke through $3.00 per pound. The red metal’s price rose 45% so far in 2020. But that is still well below its 2011 high of $4.50 per pound.

That could change in the second half of this year…

“QUEENSLAND base metals explorer Duke Exploration is aiming to list on the ASX in late September.

The company holds 100% of the Bundarra porphry copper-silver-gold project in Queensland, 91% of the Prairie Creek epithermal gold project in Queensland, 100% of the Red Hill conceptual gold and copper porphry project in New South Wales’ Lachlan Fold Belt, and a 10% free-carried interest in subsidiary of Emmerson Resources.”

“And the next in the queue is gold and copper explorer and developer Duke Exploration, which is preparing to lodge a prospectus in August and list on the ASX in September.

Street Talk understands Duke will seek to raise up to $10 million to finance mineral exploration activities in New South Wales and Queensland.

The company owns six gold, silver and copper-focused tenements and plans to start drilling activities as soon as the listing is out of the way. It has undertaken an electromagnetic survey at some of the tenements, with results due to land at the end of July.

The company has tapped stockbroker Morgans for the IPO, as well as Brisbane-based GRT Lawyers.

It is understood Morgans planned to book investor clients for a roadshow in the next few weeks, to introduce them to Duke’s management.

Meanwhile, the company was gearing up to present on the last day of the three day Noosa Mining conference, which starts on Wednesday and will see a who’s who of the local small cap resources world front investors, virtually of course.”