Altair Minerals

December 2024 Quarterly Activities Report & Appendix 5B

Altair Minerals Limited (ASX: ALR) (‘Altair or ‘the Company’) is pleased provide an update in relation to the activities carried out during the December 2024 quarter.


Key Developments & Exploration Progress

  • Major untested conductive and phase anomaly were both identified proximal to each other within Altair’s Olympic Domain Project which is highly prospective for IOCG style mineralisation.1
  • The newly uncovered conductive and phase anomaly body1 located ~5km Northwest of BHP Oak Dam Deposit (1.34Bt @ 0.66% Cu & 0.33g/t Au)2
  • Ovoid conductive anomalous body shares parallels to those of Khamsin and Carrapateena deposits, with a follow up with TEM survey that can precisely identify the depth of the body for drill targeting1
  • Previous drilling appears to have narrowly missed the newly identified phase anomaly with impressive results on the mineralised halo surrounding the target anomaly1, 5, 6, 7:
    • HWDD08: 115m @ 0.32% CuEq from 1040m (Drilled ~2km North of main phase anomaly)
    • HWD1: 61m @ 0.33% CuEq from 901m
    • HWDD05: 115m @ 0.62% CuEq from 1095m (Drilled ~700m North of conductive high)
    • HWDD05W1: 70m @ 0.67% CuEq from 962m
  • Altair executive team continued reviewing multiple complimentary business opportunities in the resources sector globally.

OLYMPIC DOMAIN PROJECT

The Olympic Domain Project consists of three prospects (Horse Well, Pernatty C, Lake Torrens) situated in one of the largest copper provinces in the world – the Gawler Craton, which hosts mega-IOCG discoveries such as Oak Dam West, Olympic Dam, Prominent Hill and Carrapateena.

Figure 1: Horse Well Total Magnetic Intensity (TMI) overlaid with TMI variable reduction to pole (VRTP) 2nd derivative - SARIG. Shown are two of Altair’s key high-priority magnetic targets1.

The Horse-Well Project represents a strategic opportunity for Altair, being the only project held by a junior exploration company in the vicinity (merely 2km away) of BHP’s Oak Dam West discovery with a recently defined inferred resource of 1.34Bt @ 0.66% Cu and 0.33g/t Au, including 220Mt @ 1.96% Cu and 0.68g/t Au2. The Horse-Well Project consists of EL’s 6122 and 6183 spanning a large area of 147km2 with initial drill results within geophysical anomalies having returned very positive levels of Cu-Au mineralisation associated with IOCG style alteration, with the possibility that these represent intersections peripheral to major targets.

During the quarter, Geophysical Audio Magnetotelluric (AMT) data acquired across Horse-Well in 2019 reprocessing was finalised as part of Altair’s strategy for the next step in targeted work plans. The 3D forward geophysics model has defined major conductive and phase anomalous bodies which has shown significant scale to host a potential large IOCG deposit which is analogous to the genesis of the Oak Dam Deposit.

The AMT data model includes 220 different sounding stations covering an area of 146km2, with conductivity and phase readings across a spectrum of 90 frequencies at each sounding station with additional repeat soundings for both Conductivity and Phase, leading to a model formed from analysing ~40,000 data points. For further detail see announcement dated 4th of December 20241


Click here for the full ASX Release

This article includes content from Altair Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

The Conversation (0)
Metal Bank

MBK Due Diligence Completed & Whiteheads Drilling Commencing

Metal Bank Limited (ASX:MBK) (‘MBK’ or ‘the Company’) announced on 10 September 2025 that it has signed a non-binding term sheet (Term Sheet) with Hastings Technology Metals Ltd (ASX:HAS) (HAS) for the acquisition of the gold assets of HAS, (subject to due diligence, binding documentation and other conditions precedent including shareholder approval) (Proposed Acquisition), and has commenced a scoping study for the Kingsley and Homestead deposits at the Livingstone Project, furthering its Western Australian focussed gold strategy to expand MBK’s WA gold portfolio and move to production.

Keep reading...Show less
John Feneck, gold bars.

John Feneck: Next Gold, Silver Price Targets, 11 Stocks I'm Bullish on Now

John Feneck, portfolio manager and consultant at Feneck Consulting, shares his outlook for gold and silver prices in 2025. His next target for gold is US$3,800 per ounce, and he still expects US$50 per ounce silver by the end of the year.

He also discusses the potential he sees in junior miners.

Keep reading...Show less
Sun Summit Minerals CEO Niel Marotta.

Sun Summit Minerals Eyes "Multimillion-Ounce" Gold Deposit at JD Project

Sun Summit Minerals (TSXV:SMN,OTCQB:SMREF) is advancing toward a multimillion-ounce resource at its flagship JD gold project in BC following “fantastic” results from the first drill hole, which showed high-grade, shallow mineralization, according to CEO Niel Marotta.

“The thesis here is that, if we prove up a multimillion-ounce deposit, we really think there's 10x potential in our market cap. We're trading at about a C$40 million market cap now, which is about 10 percent of our neighbors. So that, I think, is what people ought to focus on,” he said.

In a recent announcement, Sun Summit reported that the first hole completed in 2025 returned “one of the strongest intervals of consistent and near-surface gold mineralization” drilled to date at the Creek zone. Results include 78 meters of 3.72 grams per ton gold starting at 30 meters down hole. The company plans to conduct follow-up drilling this season.

Keep reading...Show less
Angkor Resources

Angkor Resources

Keep reading...Show less

Latest Press Releases

Related News

×