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Australian battery minerals explorer Firetail Resources Limited ("Firetail" or "the Company") (ASX: FTL) is pleased to provide an update on exploration activities at its Yalgoo Lithium Project ("Yalgoo") in Western Australia.
A review and interpretation of remote sensing data, which has been integrated with a new geophysical interpretation of the area, has identified a number of new potential Lithium- Caesium-Tantalum (“LCT”) pegmatite targets for on-ground follow-up.
Highlights include:
- Analysis of hyperspectral imagery has identified numerous potential new lithium-bearing pegmatites at the Yalgoo Lithium Project.
- Known lithium pegmatites within the project area were used as a reference for identifying additional potential lithium pegmatites.
- Generative work also included a review and interpretation of open file geophysics from Yalgoo Project area.
- Ground truthing, mapping and rock chip sampling of new targets to commence this week
- Similar work program now underway for Dalgaranga Project, with historical data compilation already completed.
- Follow-up drilling planned for Yalgoo region in the first quarter of 2024
- Firetail is committed to exploration in the under-explored Mid-West region of Western Australia, where industry peers have identified critical minerals systems proximate to the FTL tenure.
Executive Chairman, Brett Grosvenor, commented:
“Whilst the drilling campaign at Picha has been the recent focus for the FTL team, we remain committed to progressing exploration across the Yalgoo and Dalgaranga Projects, as we have growing confidence that this region and is primed for a significant discovery of critical minerals.
“The previously under-explored Mid-West region of WA is undergoing a period of growing exploration activity. Industry peers have increased their focus in the region with critical minerals systems defined by Krakatoa Resources1 (ASX:KTA) and Aldoro Resources2 (ASX:ARN) at their neighbouring projects.
“Our systematic approach to exploration at Yalgoo and Dalgaranga has enabled FTL to effectively deploy funds with a targeted approach, with the potential to start a more significant drilling program in the first quarter of 2024 across this highly prospective tenure.”
Yalgoo Lithium Project
Hyperspectral data interpretation
Hyperspectral data over the Yalgoo Lithium Project has been acquired, processed and interpreted by the exploration consulting group Terra Resources (“Terra”). This data has also been intergrated with an interpretation of open file geophysical data over the Project area. Sentinel-2 and ASTER data were processed and imaged to highlight potential lithium-bearing pegmatites. Known lithium bearing pegmatites in the region were used to characterise the spectral signature and inform the process of identifying targets for on-ground follow-up.
A Sentinel-2 composite image was primarily used to target pegmatites, with ASTER imagery used to generate additional targets. Satellite imagery and geology were also used to assist in the targeting and to help prioritise targets. Numerous targets were identified and have been prioritised, in part according to the geological setting in relation to the typical geological setting for LCT pegmatites (refer to Figure 1 for targets).
Ground-truthing of these targets is now required, which will comprise geological mapping and rock chip sampling. Some of the targets have been discounted as they have been sampled in previous Firetail exploration programs, however a number of new areas remain untested. The initial focus will be on the Priority 1 and 2 targets only. High priority target locations tend to cluster in particular areas as shown by the cluster of Prioirty 1 targets in the north and central areas.
Figure 1: Yalgoo Project - Sentinel-2 composite image with ranked pegmatite targets (Red – Priority 1, Orange – Priority 2, Blue – Priority 3)
Johnson Well Prospect
An RC drilling program was completed at the Yalgoo Project, Johnson Well Prospect in June 2023, following up from geological mapping and rock chip sampling3. The drilling program comprised 22 holes for 589m with drilling completed on four traverses approximately 80m apart and drill holes 20m or 40m apart (refer to Figure 2).
Three of the four drill traverses intersected pegmatites indicating continuity over a strike length of at least 150m and also open down-dip.
Assay results2 confirmed the pegmatites intersected are Lithium-Caesium-Tantalum (LCT) pegmatites, with a best result of 3m @ 0.83% Li2O from 32m in JWRC-0005 including 1m @ 1.16% Li2O from 34m. Lithium minerals observed in the pegmatites were predominantly lepidolite and zinnwaldite, associated with potassium feldspar, albite, muscovite and biotite.
Further drilling is planned for early 2024 to test the down-dip extension of this mineralisation, with drill-holes planned to step-out to the northeast.
Figure 2: Johnson’s Well Prospect, Yalgoo Lithium Project – RC Drilling, drill hole locations and geological interpretation
Dalgaranga Project
Generative exploration work has commenced on the Dalgaranga Lithium Project located just north of the Yalgoo Lithium Project and just to the south of the historical Dalgaranga Tantalum mine. A rigorous historical data compilation has been completed which has indicated several intersections of pegmatites in historical drill holes. These drill hole locations require initial on- ground follow-up to check for any outcropping pegmatites.
Hyperspectral data analysis and interpretation will be completed for the Dalgaranga Project in the coming weeks. This data will be integrated with a new interpretation of open file geophysical data to highlight potential lithium-bearing pegmatites. This will be followed up with ground truthing and rock chip sampling of any outcropping pegmatites.
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This article includes content from Firetail Resources 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.
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Firetail Resources
Overview
Firetail Resources (ASX:FTL) is an Australian exploration company building a strategic portfolio of battery metals in Australia and Peru.
Batteries are a critical foundation of the transition to a greener and more sustainable future. Consequently, between electric vehicles and renewable energy, global demand for batteries is expected to increase from 185 GWh in 2020 to over 2,000 GWh by 2030. This is expected to have a profound impact on the market for battery and base metals such as lithium, nickel, cobalt and copper.
Firetail Resources aims to leverage this significant opportunity to find the critical resources to support the world’s journey to electrification. Under the direction of a proven board and management team with decades of collective experience in mining exploration, development and production, Firetail Resources boasts a diversified asset portfolio with multiple drill-ready targets and advanced exploration projects that all have tremendous potential to increase shareholder value.
Firetail's Australian Yalgoo-Dalgaranga, Mt. Slopeaway and Paterson projects are all located in proven geologic domains and display significant upside for substantial mineral resources. The company's more recent acquisition of two projects in Peru strongly complements these assets.
As the world's third-largest copper producer, Peru has a massive mining industry with a strong prominence in the country’s national economy. Long recognized as an excellent, low-risk mining jurisdiction, the country recently approved roughly $600 million worth of new mining projects. Unsurprisingly, nearly every major global mining company is either operating in the jurisdiction or is aware of it.
Although only recently acquired, Firetail's Picha Copper project is now one of its most promising assets. The Picha Project was acquired as part of a deal that includes a farm-in agreement with Barrick Gold Corporation (TSE:ABX) for an earn-in of up to 70 percent interest in the Charaque Project.
Picha is located along a NNW regional trend of carbonate-replacement (CRD) and epithermal deposits, including the San Gabriel Gold Project (Buenaventura NYSE:BVN), which is fully permitted and in construction; and the Berenguela Ag, Cu, Mn, Zn Deposit (Aftermath Silver TSXV:AAG).
In 2024, Firetail Resources announced the acquisition of York Harbour copper project, Canada. The company has signed a binding option agreement to acquire up to 80 percent of York Harbour project via a staged earn-in. York Harbour is a Cyprus-style volcanogenic massive sulphide (VMS) exploration project, located 180 km west-south-west of FireFly Metals Ltd (ASX:FFM) Green Bay copper project.
With a diversified portfolio of battery and base metals assets in two leading mining jurisdictions, Firetail is perfectly positioned to take advantage of the transition to green energy, driving considerable shareholder value in the process.
Company Highlights
- Demand for batteries is expected to exponentially increase by 2030, consequently driving the demand for battery and base metals.
- An Australian exploration company, Firetail Resources is well-positioned to take advantage of this market trend via a portfolio of Australian and Peruvian battery metals projects.
- Firetail's drill-ready assets are supported by smart field exploration and drilling programs to unlock their resource potential and increase shareholder value.
- The company's current portfolio of assets includes lithium, copper, cobalt, manganese, molybdenum, lead, zinc and nickel.
- All of Firetail's exploration activities are directed by a board and management team with a proven track record in mineral exploration, development and production.
Key Projects
Picha (Copper)
Located in Southern Peru's Moquegua and Puno departments, Picha represents Firetail's most recent acquisition. Intended as a complement to the company's portfolio of battery metals assets, the highly prospective 200-square-kilometre copper project hosts multiple drill-ready targets which Firetail plans to test in the coming months. Picha was obtained as part of a deal that included a farm-in agreement with Barrick Gold Corporation for the Charaque Project located 30 kilometres to the northeast.
Firetail recently confirmed its official drill permit for Picha and site preparations are underway for a October drilling campaign.
Project Highlights
- Promising Geology: Picha is located within Peru's Epithermal Au-Ag-Cu-Pb-Zn metallogenic zone along a north-northwest regional trend of carbonate-replacement and epithermal deposits.
- Nearby Projects: Picha is situated roughly 17 kilometres east-northeast of Compania de Minas Buenaventura's San Gabriel gold-copper-silver project, which hosts:
- Reserves of 14.9 Mt with 4.04 grams per ton (g/t) gold and 6.43 g/t silver representing 1.94 Moz gold.
- Resources of 24.86 Mt with 2.10 g/t gold and 8.46 g/t silver.
- Multiple Mineralisation: The project is prospective for multiple styles of copper mineralisation, including epithermal, stratabound, polymetallic carbonate replacement and porphyry-style. It also hosts several untested and geologically significant geochemical and geophysical anomalies, displaying similar mineralisation to the Storm/Seal copper project on Somerset Island.
- Significant Exploration Potential: Firetail has identified 13 exploration targets through a combination of geological mapping, surface sampling and geophysical surveys. Thus far, the company has collected 651 rock/chip samples and 289 soil samples and performed 118 line-kilometre IPs and 240 line-kilometre magnetic surveys. Highlights of its exploration work include:
- Widespread surface copper mineralisation coincident with IP anomalies.
- Channel Sample Results
- Cobremani: 41.6 metres at 1.12 percent copper and 22.85 g/t gold.
- Maricate: 17.6 metres at 1.95 percent copper and 29.58 g/t gold.
- Cumbre Coya: 32.85 metres at 0.61 percent copper and 209.76 g/t gold.
- Fundicion Target: Identification of a large chargeability anomaly reflecting potential sulphide mineralisation and/or alteration at depth indicative of a large porphyry body. This anomaly is roughly 2 kilometres long and 2 kilometres across at its widest point.
- Additional Drill Targets: Firetail's second IP survey revealed additional anomalies, including:
- Ichucollo: Semi-contiguous 2.5-kilometre long IP anomaly with coincident surface mineralisation and sample results of 24 metres at 1.08 percent copper, 13 metres at 1.38 percent copper and 30 metres at 0.79 percent copper. Manto-type mineralisation at the target's southern end also averages 1.45 percent copper over 18 metres.
- Huancune: A 1.5-kilometre long anomaly coincident with surface mineralisation. Multiple channel samples ranging from less than 0.5 percent copper up to 3.95 percent copper.
Charaque (Copper)
The Charaque Copper Project is located roughly 30 kilometres northeast of Firetail's Picha project, consisting of eight claims covering roughly 60 square kilometres. The region around the project is an active exploration area where multiple leading mining companies maintain significant landholdings, including Barrick Gold, Teck Resources (TSE:TECK.B) and Fresnillo (LON:FRES).
Charaque was acquired via a farm-in agreement between Firetail and Barrick Gold which entitles the latter to earn up to a 70 percent interest in the project.
Yalgoo & Dalgaranga (Lithium)
Firetail's Yalgoo and Dalgaranga lithium projects collectively span more than 1,750 square kilometres in Western Australia's highly prospective Murchison region. Located close to Geraldton Port and with easy access to all necessary infrastructure, the two projects host known lithium-caesium-tantalum (LCT) pegmatites with a strong rubidium association. Firetail recently completed a small maiden drilling program in the Johnson Well area of Yalgoo, itself the site of a historic lepidolite mine.
Rock chip sampling of surrounding areas is ongoing along with a detailed analysis of lithium prospectivity. Results and a project update are expected within four to six weeks.
Project Highlights
- Yalgoo Exploration Results: Thus far, exploration at Yalgoo has returned highly promising results, including:
- A 25-kilometre "Goldilocks Zone" at Yalgoo confirmed to host LCT pegmatites with historic results of up to 3.75 percent lithium oxide.
- Rock chip assay results of up to 0.54 percent lithium oxide and under 1 percent rubidium.
- High-grade rubidium, including 10 metres at 0.44 percent rubidium from 10 metres.
- Dalgaranga Exploration Results: Firetail has completed detailed geological mapping in the project's north, returning anomalous lithium, rubidium, caesium and tantalum values indicative of LCT pegmatites. The company plans to undertake further mapping in the area.
- Dalgaranga's Strong Prospectivity: Dalgaranga counts several advanced critical minerals projects amongst its neighbours which together confirm its prospectivity:
- King Tamba (ASX:KTA): Maiden mineral resource estimate (MRE) of 5 Mt at 0.14 percent rubidium oxide with a lithium oxide credit. Open mineralisation in all directions with a planned infill drill program to expand MRE.
- Aldoro Resources Limited (ASX:ARN): Aldoro's Niobe Tantalum-Lithium project has delivered a maiden inferred JORC MRE of 4.6 Mt at 0.17 percent rubidium oxide and 0.07 percent lithium oxide. Potential to upgrade is present thanks to mineralisation at shallow depth.
- Farm-in Agreement on Southern Yalgoo Tenement: Completion of the farm-in agreement completed with SensOre (ASX:S3N), through its joint-venture subisidiary Exploration Ventures AI Pty (EXAI) in partnership with German resource investment group Deutsche Rohstoff AG, on tenement E59/E2252, a part of the Firetail Yalgoo Lithium Project. As per the agreement, EXAI is to earn up to 80 percent of lithium rights on E59/E2252 by spending $3.5 million in two stages. Additional considerations of up to $600,000 will be fulfilled upon the delivery of maiden mineral resource estimate (MRE) and pre-feasibility study (PFS). SensOre will further provide Firetail access to its proprietary AI technology across the Yalgoo and Dalgaranga Lithium Projects. The two companies will work closely together to identify and confirm Lithium exploration targets in the region.
Mt. Slopeaway (Nickel)
Situated in Central Queensland, Firetail's Mt. Slopeaway Nickel Project contains an existing JORC 2012-compliant inferred mineral resource of 4 MT at 1 percent nickel, 0.2 percent cobalt and 1 percent manganese. Having recently been awarded project status, Firetail plans to conduct environmental and heritage surveys. Planning of an onsite drilling program is also underway.
Project Highlights
- Current Progress: In addition to drilling, heritage and environmental surveys, highlights of Firetail's work at Mt. Slopeaway include:
- Development of a geological model indicative of a manganese-cobalt-nickel layer at the base of a limonite section.
- Finalisation of a project land access agreement and completion of site earthworks.
- Phase 1 reverse circulation (RC) drilling with results exceeding historical nickel and cobalt assay data.
- A planned Phase 2 RC and diamond drilling program to upgrade the project's current resource classification.
- Extensional drilling to potentially expand the project's current inferred resource.
- Drilling Results: A drilling program completed in Q4 2022 returned up to 51 metres of thick laterite nickel-cobalt mineralisation.
Paterson (Copper)
Firetail's Paterson Copper Project spans five tenements across roughly 1,000 square kilometres in Western Australia. Heritage agreements for the project are in place and desktop studies are currently progressing, with multiple prospective target areas identified for drilling.
Project Highlights
- Shallow Intercepts: Paterson displays the shallowest known historical gold/copper intercepts in the region, with up to 6.5 percent copper, 0.99 g/t gold and copper, 0.99 g/t gold and 1,330 parts per million (ppm) molybdenum across an approximately 50-metre wide magnetite alteration zone.
- Drilling Targets: Paterson has identified the following potential targets for drilling at Paterson:
- 87WDRC2: 17 metres at 1.6 percent copper and 317 ppm molybdenum including 9 metres at 2.6 percent copper and 456 ppm molybdenum from 84 metres.
- 87WDRC6: 9 metres at 2 percent copper and 272 ppm molybdenum including 5 metres at 3.1 percent copper and 430 ppm molybdenum from 84 metres.
- 87WDRC8: 11 metres at 1.5 percent copper and 181 ppm molybdenum including 7 metres at 2.1 percent copper and 250 ppm molybdenum from 83 metres.
- 87WDRC14: 13 metres at 1.1 percent copper including 6 metres at 2 percent copper from 107 metres.
Management Team
Brett Grosvenor — Executive Chair
Brett Grosvenor is a seasoned executive with over 25 years of experience in the mining and power industry. He holds a dual tertiary qualification in engineering and a Master in Business. Prior to his current position, Grosvenor was the director of development at Primero Group, focused on the development of projects from an initial concept through to contract delivery and operation.
Grosvenor is currently a director of ASX-listed Perpetual Resources and Firebird Metals. He is a member of the project steering group for Patriot Battery Metals and also the Australian Industry Consultation Group for Battery and Critical Minerals.
Simon Lawson — Non-executive Director
Simon Lawson is a professional geoscientist with more than 16 years operational experience spanning multiple commodities and jurisdictions, and was a founding member of Northern Star Resources (ASX:NST).
He holds a Master of Science in geology from Auckland University and has more than 15 years of exploration, production and management experience in gold and base metals. He is currently the managing director of Spartan Resources (ASX:SPR) formerly Gascoyne Resources (ASX:GCY).
Cai Kecheng — Non-executive Director
Cai Kecheng is a representative of Hong Kong Jayson Mining Co. (Jayson), a substantial shareholder of Firetail. Kecheng has over eighteen years of experience in financial investment and corporate strategy. He is currently the associate president and head of investment & strategy for Jayson. Prior to that, he served as managing director at a number of private equity firms in Shanghai
George Bauk — Non-executive Director
George Bauk is an experienced director with over 17 years as a listed company director and 30 years within the resources industry including global operational and corporate roles.
He has experience managing everything from exploration to production in Australia and internationally, with expertise across a variety of commodities including rare earths, lithium, graphite, gold, uranium and copper. During his time as managing director of Northern Minerals, he led his team from a greenfields heavy rare earth explorer to one of the few global producers of high-value dysprosium outside of China.
Alongside his position as director at Firetail, he is also an executive chairman of ASX-listed Valor Resources (ASX:VAL) and Lithium Australia (ASX:LIT), as well as an executive director of PVW Resources (ASX:PVW).
Robin Wilson — Technical Director
Robin Wilson has held senior exploration positions in several exploration and mining companies, including Valor Resources, Polaris Metals, Tanganyika Gold, Troy Resources, CRA Exploration and Northern Minerals. He has also spent five years working in oil and gas exploration for Woodside Energy.
During nearly 30 years of involvement in mineral exploration, Wilson has worked on gold, nickel, REE, uranium, copper, lithium and phosphate projects throughout Australia, Africa, South America and North America and was involved in the initial discovery and outlining of several gold deposits in Australia. Between 2006 and 2021 he led the Northern Minerals exploration team that discovered the Browns Range REE deposits that have advanced through development to production of HRE carbonate.
Frank Bierlein — Technical Consultant
Dr. Frank Bierlein is a geologist with 30 years of experience as a consultant, researcher, lecturer and industry professional. He served on the Firetail board of directors from the time of its listing on ASX in April 2022 until July 2023. He remains a technical consultant to Firetail, in particular for ongoing technical work on the Mt Slopeaway Project.
Bierlein has held exploration and generative geology management positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC and consulted for, among others, Newmont Gold, Resolute Mining, Goldfields International, Freeport McMoRan and the International Atomic Energy Agency.
He is currently a Non-executive director of Blackstone Minerals, Impact Minerals and Variscan Mines.
Leon Bagas — Senior Exploration Geologist
Leon Bagas is an exploration geologist with forty years of industry experience. He has held senior exploration roles with multiple Australian companies and senior research positions for the University of Western Australia.
Bagas is highly experienced in developing mineralisation models using geochemistry and geochronology. Combined with his proficiency in the field, this makes Bagas an excellent candidate to assist in the development of the exploration and drilling programs at Firetail's Paterson Orogen and Yalgoon-Dalgaranga project areas.
Phillip Mackenzie — Senior Exploration Geologist
Phillip Mackenzie has worked in Central Queensland over several decades, exploring the Marlborough and Yeppoon terrain to assess and explore for nickel, cobalt, chromite, magnesite and gold related to the Princhester Serpentinite. His work included management of projects and teams to perform activities ranging from regional sampling to resource drilling. As a result of his work, several hundred drill holes targeting lateritic nickel and cobalt were assessed and an indicated resource determined for a mining lease.
Unconformity Uranium Drill Targets Identified from 2024 Geophysical Data
Key Highlights
- Final data received and interpretation completed for the ground electromagnetic geophysical surveys from the winter 2024 program at the Marshall and North Millennium projects.
- Several conductive anomalies identified at Marshall, located above and below the unconformity, consistent with regional exploration model.
- Stacked anomalies concurrently with multigenerational geophysical data provides a base to assess the exploration targets and refine drillhole targets.
- The projects are located 15 kilometres from the majority Cameco owned Millennium deposit, and just 40km from the world class McArthur River mine.
- Basin remains funded for the next round of field exploration.
The ground electromagnetic successfully identified 3 main targets which confirms the geological and exploration model. Of note is Target 1 (Figure 1), where modelled EM plates below the unconformity align with a sandstone ZTEM anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting. Basin is currently reviewing options and priorities of how to progress exploration of these confirmed targets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Conducting ground geophysical surveys on Marshall and North Millennium was a milestone in advancing these underexplored projects in Basin’s uranium portfolio. The form of these anomalies is highly encouraging given the proximity to some of the world’s largest uranium deposits.”
Key results
Following the encouraging conductive anomalism highlighted by the 2023 3D inversion of two historic airborne Electromagnetics (Z‐Tipper Axis) (“ZTEM”) datasets partially covering the current North Millennium and Marshall projects3,4, Basin contracted Discovery International Geophysics5 to carry out ground Stepwise Moving Loop Transient Electromagnetic (‘Ground EM’) surveys on areas of immediate interest within the Projects.
Figure 1 Three main anomalies shown from 2024 ground EM, in plan view (top diagrams) and cross- section looking northeast (bottom diagram). The ground EM anomalies are displayed with the modelled plates against the historical ZTEM data.
The 2024 Ground EM survey data returned six conductive anomaly picks producing three main target areas (Figure 1). The anomalies correlate strongly with the southern edge of the circular ZTEM conductive anomaly at Marshall and the interpreted northern edge of the circular anomaly identified in the historic data. A weaker EM pick was also interpreted centred between the two prominent ZTEM conductivity anomalies.
Three-dimensional modelling using Maxwell produced six electromagnetic conductive plates within the basement stratigraphy, all below the unconformity (Figure 1). The two southeastern plates are clearly aligning with a conductive sandstone ZTEM anomaly identified from the historic data, which is above the interpreted unconformity. This is interpreted as potential basal sandstone alteration proximal to the EM anomalies and constitutes a high-priority drill target area, refer figure 2.
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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.
Airborne EM over Multiple Targets on Ti-Tree Project
- Augustus Minerals has contracted UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Zn-Pb-Ag and Uranium targets along the money Intrusion and within proximity of the prospective 85k long Ti-Tree Shear.
- The surveys will cover:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nics Bore over anomalous Copper Drilling results
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation.
- The Munaballya Well North area which shows potential for economic Uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
Andrew Ford, GM Exploration
“The VTEM survey will provide key targeting data over three highly prospective and different prospects with potential for multiple commodities. Whilst the high prospectivity for copper mineralisation has been well documented, the addition of uranium and Broken Hill base metal style mineralisation highlights the quality of the underexplored Ti-Tree project”.
VTEM
UTS Geophysics has been engaged to conduct a helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer. The transmitter/receiver loop is suspended on a cable approximately 40m below the helicopter (Figure 1).
Figure 1 VTEM Max helicopter deployed electromagnetic survey arrangement.
Figure 2 Prospects and VTEM Survey areas.
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). This extensive mafic intrusion, which is comprised of a variety of lithologies, including gabbro in the core, olivine dolerite on the chilled lower contact or keel and fine-grained dolerite on the outer edges. Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north of E09/23241.
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This article includes content from Augustus Minerals, 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.
Latest Kameelburg Assays Up To 10.38% Nb2o5 and 9.89% TREO
Highlights
- A total of 74 highly prospective rock samples recently collected from various beforsite and mafic dykes
- Most notable assays reveal up to 10.38% Nb2O5 and 9.89% TREO
- Large scale geological mapping of Kameelberg carbonatite is nearing completion
- Track access clearance & preparation for underground water supplies underway for upcoming maiden diamond drilling programme
Results from recently collected seventy-four (74) samples were received and highlighted the REE rich nature of the carbonatite with TREO(+Y) assays ranging from 1.16 to 9.89%, refer to Figure 1 for samples locations and Table 1 for results.
Figure 1: Southern Carbonatite Margin Geological mapping area with rock chip samples
Niobium Results Along Mafic Dykes
In addition to sampling the carbonatite plug, a further four (4) samples were collected across the Nb dyke zone on the southwest flank of the carbonatite. Results for these samples ranged from 5.44% to 10.38% Nb2O5. This provides additional confidence to previous niobium findings (see announcements dated 28 February 2024 and 27 December 2023). Table 2 compiles the Nb results with Figure 2 depicting recent sample locations in relation to the previous Nb2O5 results.
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This article includes content from Aldoro 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.
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