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Marquee Resources Limited (“Marquee” or “the Company”) (ASX:MQR) is pleased to announce that it has completed a 1,907 station ground gravity survey at the Company’s Redlings Rare Earth Element Project (“Redlings” or “the Project”). The gravity survey was designed to test for deep-seated carbonatite intrusions and to identify the potential source of surficial rare earth element (REE) anomalism of up to 7,503ppm TREO previously encountered at the Project (Refer ASX announcement 18 May 2023).
- Ground gravity survey completed and successfully identifies high-density pipe-like structures.
- Gravity data highlights NNE trending, pipe-like structures which significantly enhances the exploration model.
- The pipe-like structures are interpreted to be the primary source of surficial values of the REE mineralisation with previous results up to 7,503ppm TREO.
Final data processing and 3D modelling has been completed with results of the survey highlighting a complex structural architecture intruded by dense bodies, which are interpreted to represent carbonatite pipes, extending to significant depths. The gravity survey focused on a ~4.9 km x 1.2 km geochemical anomaly to assist in interpreting the primary controls on surficial mineralisation. Although historical exploration has focused on NW trending structures, the gravity data has highlighted that the interpreted carbonatite pipes have a NNE trending orientation and the exploration model needs to be refined and shifted to focus on these NNE trending structures. Company geologists have mapped REE-bearing dykes/veins with varying structural orientations which may represent late- stage carbonatite cone sheets or ring dykes. Following the completion of the gravity survey, further mapping and auger geochemistry is planned with deeper reverse circulation drilling to follow. The Company aims to fully test the potential of the Project to host an economic REE mineral resource.
Executive Chairman Comment:
Marquee Executive Chairman, Mr Charles Thomas, commented:
“This infill gravity survey has significantly improved our understanding of the Redlings REE Project. For the first time, we believe we have possibly identified the source of the surficial mineralisation that we have encountered on our last few exploration campaigns at the Project.”
“Acquisition of this new geophysical datasets is a significant next step in unlocking the potential of the geology within the Redlings REE Project area. An exciting pipeline of new exploration activities will now follow over the next 12 months at the Project. I look forward to updating all our shareholders and the wider market as we make further progress at this exciting Project.”
Figure 1: Base Image - Greyscale TMI image overlain with RGB Bouguer Anomaly image. Top Left – 0.02, 0.03 & 0.05 g/cc inversion shells, Top Right – auger geochemistry results, Bottom Left – density inversion shells and auger geochemistry results.
Figure 2: Long Section of the Redlings 3D Gravity Inversion Model highlighting interpreted carbonatite pipes.
Figure 3: Gravity inversion model of the Redlings Project and potential carbonatite corridors.
The Redlings Rare Earth Element Project
The Redlings Project (formerly called Jungle Well) is 100% owned by Marquee and comprises exploration licenses E 37/1311 and E 37/1376 (Figure 4). The Project is located approximately 40km west of Leonora, and 77km north of Menzies. Lynas Corporation’s Mt Weld Project lies approximately 150km east of the project. The Redlings Project covers an area of approximately 108km2 of tenure with historical rock-chip samples up to 7.8% TREO (refer to ASX announcement on 11 November 2020).
The Redlings Project is situated over a NNW trending high magnetic biotite-hornblende monzogranite granite that has intruded into the surrounding granite pluton. A series of NW trending faults run obliquely through the granite which were targeted historically for REE bearing mafic dykes within the Project. This was due to the identification of the Redlings dyke identified during prior exploration activities. The Company has greatly enhanced the understanding of the Redlings Project through geophysics, geochemistry and drilling and carbonatite intrusions are now interpreted to strike NNE and the Company will use these recent advancements to identify targets for the discovery of additional REE bearing dykes.
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This article includes content from Marquee Resources, 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.
MQR:AU
Quarterly Activity Report 31 March 2024
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
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This article includes content from EMU NL, 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.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
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This article includes content from Basin Energy, 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.
