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Terrain Minerals Limited (ASX: TMX) (‘Terrain’ or the ‘Company’) is pleased to advise that exploration tenement E63/2447, which forms part of the Company’s 100% owned Lort River Project near Esperance, Western Australia, has recently been granted. This tenement potentially hosts the next major magmatic nickel-copper discovery within the Albany-Fraser Belt of Western Australia, being home to Nova-Bollinger nickel-copper ore bodies, whose discovery by Sirius Resources in 2012.
Highlights:
- E63/2447 located within the same geological belt as that hosting the Nova-Bollinger ore bodies
- Nova-Bollinger style magmatic nickel-copper ore bodies tend to occur as clusters along a Belt
- Nova-Bollinger style “eye” feature interpreted within Terrain’s tenement E63/2447
- Conductor recorded within the southern part of the “eye” feature within Terrain’s tenement E63/2447
- Terrain committed to fast-track exploration with the goal of achieving exploration success similar to other companies operating in the belt
The Albany-Fraser Belt in southwest Western Australia is a proven host of company-making deposits. In addition to the 5-million-ounce Tropicana Gold, the Belt also plays host to the Nova-Bollinger nickel-copper deposit, which was discovered by Sirius Resources (former ASX code SIR) in 2012 and was subsequently purchased by Independence Group (ASX: IGO) for $1.8 billion (see IGO’s announcement dated 25 May 2015 for full details of this transaction) (Figure 1).
The discovery of the Nova-Bollinger nickel-copper deposit (see Figure 2) was a result of Sirius Resources recognising the importance of an “eye” feature within the aeromagnetic images over their Fraser Range tenement, which proved to be the geophysical signature of the intrusion associated with the nickel-copper ore bodies (Figure 3).
Armed with the knowledge, Terrain intends to benefit from the considerable resources already committed to searching for repetitions of this eye-like feature within the northern half of the Albany-Fraser Belt which include Independent Group and Legend Mining to name only two (see the ASX announcement Legend Mining dated 14 February 2023 as just one example of the companies placing an importance on the eye-feature when exploring for nickel-copper within the Albany-Fraser Belt).
Magmatic nickel-copper deposits, such as Nova-Bollinger, usually occur as clusters suggesting that just like the equivalent Thompson Belt in Canada. To quote Independence Group (ASX: IGO) “The Nova-Bollinger discovery, along with other known magmatic nickel copper sulphide occurrences in the Fraser Range, are proof of the fertility of the region for more discoveries, and IGO’s exploration team is convinced that this belt should host multiple significant magmatic Ni-Cu sulphide deposits …” (Exploration | IGO Limited - Making A Difference).
Recognising the industry’s focus had yet to extend to the southern half of the Belt, Terrain undertook a review of the open-file aeromagnetic data covering the favourable geological settings south of the Nova-Bollinger ore bodies. This work by Terrain was rewarded when a possible repetition of the Nova-style eye feature was observed within a vacant tenement area between Terrain’s existing Lort River tenements package (Figure 3). Appreciating the significance of this distinctive “eye” feature in the aeromagnetics, Terrain subsequently submitted a tenement application over this prospective nickel-copper target, with the resulting tenement (E63/2447) having now been granted to the Company.
As a result of the grant of E63/2447, Terrain’s tenement package within the Albany-Fraser Belt totals 640 square kilometres of granted tenure.
Terrain is committed to fast-tracking exploration of this potential repetition of the Nova-Bollinger style magnetic nickel-copper in tenement E63/2447 and, as such, is seeking to award the airborne electromagnetic (AEM) survey contract to the preferred geophysical contractor in the coming weeks.
AEM offers a proven, fast, and inexpensive method for detecting potential nickel-copper ore bodies across the Albany-Fraser Belt, with Sirius Resources repeatedly expressing a view that electromagnetics continued to be a reliable exploration tool during their exploration and development of the Nova-Bollinger nickel-copper deposit.
It should be noted that a single line of AEM has previously been flown over Terrain’s tenement E63/2447 by Geoscience Australia as part of the Australian Government’s ongoing effort to acquire AEM data over the continent (Product catalogue - Geoscience Australia (ga.gov.au)). The line spacing of the Geoscience Australia airborne survey was 20 kilometres and had limited depth penetration. Encouragingly, though, this single survey line appears to have successfully detected an interpreted conductor at the southern end of Terrain’s “eye” feature (Figure 4).
Further work is continuing in relation to modelling the Geoscience Australia AEM data. However, the presence of such a conductor only serves to strengthen Terrain’s commitment to exploring E63/2447, given the project seems to keep ticking boxes in terms of its prospectivity for Nova-Bollinger-style nickel-copper mineralisation.
- We are in the same geological belt as that hosting the Nova-Bollinger ore bodies,
- We have an interpreted characteristic “eye” feature in the aeromagnetic data over our tenement,
- We have a conductor within the southern part of the “eye” feature,
- We know that Nova-Bollinger style magmatic nickel-copper ore bodies tend to occur as clusters along a Belt (as it’s the case for across the equivalent Thomson Belt in Canada),
- We know that exploration by others to date have focused on the northern half of the Albany-Fraser Belt, but have had limited exploration success to date,
- We assume, therefore, that this means that the clusters of yet-to-be-discovered magmatic nickel-copper ore bodies are more likely to be located in the southern half of the Belt,
- Terrain holds a strategic land position in the southern half of the Belt (with is virtually untouched by historic magnetic nickel-copper focused exploration), and
- We are committed to fast track our exploration with the goal of exploration success similar to other companies operating in the belt.
Figure 1. Terrain Minerals’ 100% owned Lort Rover Project is located approximately 50 kilometres northwest of Esperance, and within the highly prospective Albany-Fraser Belt, being home to Nova-Bollinger nickel-copper ore bodies.
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This article includes content from Terrain 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.
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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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.