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Odessa Minerals Limited (ASX:ODE) (“Odessa” or the “Company”) is pleased to announce that it has completed an airborne gradiometer magnetic and radiometric survey over the Company’s +2,100 square kilometre tenement package at its Gascoyne East Project (“Project”) in the Gascoyne region of Western Australia.
Highlights:
- Completion of gradiometer magnetic and radiometric surveys at the previously under-explored Gascoyne East Project
- Multiple major mantle-tapping structures transect the Project area along strike from known mineralisation, indicating strong prospectivity for:
- Iron Oxide Copper-Gold (IOCG) mineralisation
- Sedimentary Exhalative (SEDEX) and sedimentary-hosted targets, analogous to the Abra Deposit
- Intrusion/magmatic-related Cu-Ni-Co-PGE mineralisation
- Lode-gold mineralisation analogous to the Glenburgh and Mt Edgerton deposits
- At-surface uranium radiometric anomalies also identified
- Ongoing geophysical interpretation for target ranking and immediate exploration
Figure 1: TMI RTP NE shade magnetic imagery overlain by structures. Primary magnetic anomaly targets identified. GSWA 1:500k bedrock geological and structural underlay. White boxes show the areas of interest displayed in Figure 2.
Magnetic Anomaly Targets
Figure 2: Zoomed areas of the white boxes (A-D) referenced in Figure 1. Yellow dashes outline magnetic features of interest associated with the translithospheric structures.
Geophysical consultants are completing inversion modelling and litho-structural basement mapping to aid with understanding the depth and geometry of the anomalies. Odessa will subsequently complete target ranking and plan immediate follow-up exploration and subsequent drilling.
Radiometric Targets
Figure 3: Uranium targets highlighted in U:Th ppm ratio radiometric image, showing the proximity of anomalies to splays of the Mt Clere South Fault that dissect the outcropping Moorarie Supersuite.
Several uranium anomalies have been highlighted by radiometric survey data across the Project, coincident with calcrete deposits mantling fault structures within an outcrop of Moorarie Supersuite granite. On-ground mapping and sampling is to be conducted to assess the potential for Calcrete-Type and concealed structurally- hosted uranium mineralisation
David Lenigas, Executive Director of Odessa, said: “The Gascoyne East Project is the most under-explored area of the emergent Gascoyne Province. This new, detailed geophysical dataset is the first high-resolution survey over the area and proves that major geological structures transect the project area along strike from known mineralisation.
The initial results from the survey have provided multiple exciting large-scale multi-commodity targets that will require follow-up exploration and drill testing.
Magnetic Inversion and structural modelling are underway to progress our understanding of the new anomalies and aid with target ranking. The Gascoyne East Project is shaping up to be an exciting frontier for Odessa’s exploration throughout 2024.”
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This article includes content from Odessa 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.
ODE:AU
High grade Massive Sulphide Intercepts Confirmed at Oval
HIGHLIGHTS:
- OVD027 confirms the continution of high grade massive sulphide from OVD0211 with an intercept of 6.1 metres of 4.16% Cu, 3.51% Ni, 0.G3g/t E3, and 0.13% Co from G8.2 metres encountered between broader high grade zones of:
- A dense disseminated intercept - 26.2 metres of 0.44% Cu, 0.52% Ni, 0.12g/t E3, and 0.03% Co from 72.0 metres and
- A net textured intercept - 15.3 metres of 1.15% Cu, 0.79% Ni, 0.35g/t E3, and 0.04% Co from 104.3 metres;
- A high grade broad intersection is confirmed at the central part of the Oval area by OVD026. It includes a massive sulphide intercept in hole OVD026 of 1.8 metres of 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co from 105.0 metres within broader mineralisation of:
- 19.8 metres of 1.23% Cu, 0.98% Ni, 0.36g/t E3, and 0.05% Co from 91.2 metres.
OVD026 is located 100 metres northwest of the previously announced 8.8 metres of massive sulphide identified in drillhole OVD021.
On completion of the Phase 2 exploration work and receipt of all assays, Managing Director Gan-Ochir Zunduisuren, commented:“The 2024 Phase 1 and 2 drilling and exploration programs have confirmed the broad presence of high-grade mineralisation in the Oval gabbroic intrusion. The grades intercepted in some of the drillholes are exceptional and may be indicative of broader potential over a larger area, given Oval is a greenfields discovery.
The 2025 exploration program will focus on obtaining information on the size/metal content potential of the Oval Cu-Ni-PGE mineral system as well as targeting the possible deeper magmatic sources at Oval. Broader exploration is also planned at potential extensions of Oval and nearby look-a-like prospects. We look forward to updating shareholders on progress, with drilling expected to commence in around 8 weeks”.
Summary of Phase 2 exploration drilling at Oval Cu-Ni-PGE project
The Company’s recent drilling work has predominantly focused on finding high-grade mineralisation in the olivine-amphibole gabbro at the Oval project. The multiple intercepts of massive sulphide mineralisation with different ratios of metal contents throughout the Oval gabbroic intrusion is highly encouraging for the presence of one or more deeper sources of high grade mineralisation in the opinion of ABM.
Figure 1. Plan view of drillhole locations on high resolution magnetics map (RTP)
Drillhole OVD02c
Drillhole OVD026 was designed to test the Down-Hole Electromagnetic (DHEM) conductor plate identified as OVD007_L2_B (reinterpretation of OVD007_L2_A2 by Southern Geoscience Consultants), which exhibits a conductance of 1,000 siemens. The drilling intersected a total of 1G.8 metres of mineralisation with 1.23% Cu, 0.G8% Ni, 0.36g/t E3, and 0.05% Co from G1.2 metres including;
- 4.8 metres of @ 0.45% Cu, 0.43% of Ni, 0.14g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 91.2 metres,
- 6.6 metres of @ 1.56% Cu, 0.G0% Ni, 0.50g/t E3, and 0.04% Co of net textured mineralisation from G6.0 metres,
- 2.4 metres of @ 1.52% Cu, 1.3G% Ni, 0.43g/t E3, and 0.07% Co of semi massive sulphide mineralisation from 102.6 metres,
- 1.8 metres of @ 3.21% Cu, 3.32% Ni, 0.6Gg/t E3, and 0.14% Co of massive sulphide mineralisation from 105.0 metres, and
- 4.2 metres of @ 0.57% Cu, 0.45% of Ni, 0.21g/t E3, and 0.02% Co of dense disseminated mineralised gabbro from 106.9 metres (Table 1 provides a detailed breakdown of mineralisation intervals).
OVD026 is located in the Oval area, which is approximately 100 metres northwest of the previous intersection identified in drillhole OVD0213. This intercept may represent an extension of the known massive sulphide mineralisation in the Oval area and highlights the potential for further expansion of massive sulphide zones within the broader prospect area (Figures 1 and 3).
Click here for the full ASX Release
This article includes content from Asian Battery Metals PLC, 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.
