The company started testing in 2010 in order to determine quantities of gold, silver and copper.

But in April, White Rock Minerals started drilling the first hole in a program to test "significant" new copper and gold targets.

A drilling program of up to two kilometres will test targets that were identified by a geophysical survey and confirmed by soil sampling earlier this year.

The potentially large copper and gold system is located west of the already known shallow gold, silver and copper deposits.

White Rock Minerals said the drilling would be partly funded by a $200,000 NSW Government grant as part of the New Frontiers Cooperative Drilling Program.

If successful the company believe it could be transformational for them.

The first hole was completed in late April but will be just the first of several drill holes,

Rex Minerals bought the gold, silver and copper project at Mt Carrington in 2009.

At that time there were inferred resources estimates of 190,000 ounces of gold and 10.5 million ounces of silver, as well as shallow and high-grade copper resources.

But as Rex Minerals started to focus on other projects, White Rock Minerals made the decision to separate - primarily to continue work at the Mt Carrington site.

The company received formal offers from the NSW Department of Industry and Investment to renew their 22 mining leases at Mt Carrington until 2020.

In 2010, then Tenterfield mayor Toby Smith said it could prove to be the towns own ‘mining boom’.

Results are expected this month and White Rock have said the exploration has the potential to lead to indications of a significant new copper/gold discovery.