In continuing exploration carried out by Mount Isa Mines Exploration (MIM) during 1998 on EL 1792 / 2467 Gosse and EL 1798 / 2466 Kingoonya, additional calcrete sampling and RC drilling (25 holes for 1590 m total penetration) took place at four...
In continuing exploration carried out by Mount Isa Mines Exploration (MIM) during 1998 on EL 1792 / 2467 Gosse and EL 1798 / 2466 Kingoonya, additional calcrete sampling and RC drilling (25 holes for 1590 m total penetration) took place at four magnetic anomaly new prospects, but the highest calcrete gold value realised was only 8 ppb Au, and no significant mineralisation was encountered. During 1999, MIM's attention became focussed on the larger but more complex Renton and Kingsnag magnetic anomaly prospects. Across both of these 31 sites were sampled for partial extraction geochemical pathfinder analysis using the Mobile Metal Ion Deep Leach, BLEG and Enzyme Leach analytical methods. Some weakly consistent minor anomalies in La, Au, As, Ce and Pb were detected at Kingsnag, but nothing comparably definite was seen at Renton. Next, a ground magnetic survey was run over Renton prospect, followed by RC drilling (3 holes for 572 m). This drilling accurately located the source magnetite-rich beds beneath the Pandurra Formation, but they yielded no gold or base metal mineralisation. Late in 1999, a detailed gravity survey was acquired at the Kingsnag prospect (of which 260 out of 1151 stations lay within EL 2466), to investigate the significant regional gravity high evident there. During the 2000 licence year this gravity data was 3-D inversion modelled, and the best fit results mapped a body having a maximum density contrast of 0.378 g/cc above the regional Bouguer density of 2.67 g/cc, while its boundary lay approximately 1200 m below surface at the shallowest point. This location was then profiled with 4 lines of MIMDAS IP and MT recording, to look for chargeable or conductive features associated with the denser and more magnetic rock. However, no such responses were detected. The consequent lack of encouragement for doing more work convinced MIM to withdraw as operator of both project ELs, and exploration management control was returned to Resolute Resources on 22/12/2000. During the succeeding three years, from January 2001 until December 2003, no field work was carried out on the subject licences. Resolute Resources conducted a review of all of MIM's data and integrated it into the Dominion-Resolute JV exploration database. In January 2001 Dominion Gold Operations acquired Resolute Resources' 20% share of the joint venture interests, thereby giving it 40% with MIM retaining its earned 60%. Then, on 5/9/2003, MIM Ltd tranferred that 60% share of the Mentor project licences' ownership to Dominion Gold Operations, as a part of the former company's rationalisation following its takeover by Xstrata Ltd. A new joint venture agreement (for the four Kingoonya Project ELs 2636, 3024, 3120 and 3121) was signed with Minotaur Resources on 10/12/2003, leading to a resumption of field work. Semi-regional gravity survey coverage at 1 km x 1 km station spacing (516 stations in total, including 143 stations read on each of ELs 3120 and 3121) was obtained in January 2004, followed by acquiring infill gravity profiles of six selected anomalies at 500 m x 250 m station spacing during mid-2004 (312 stations read, including 34 stations on EL 3120 and 61 stations on EL 3121). In August 2004 BHP Billiton Minerals Pty Ltd entered the Kingoonya Joint Venture at the invitation of Minotaur Resources, to assist with its plans to RAB drill test existing calcrete gold anomalies and to investigate MIM's untested geophysical targets within basement for possible Prominent Hill type iron oxide - associated copper-gold mineralisation. Late in 2004 the partners conducted three-dimensional inversion modelling of gravity data from potential IOCG prospects, to firm up targets for drilling during 2005. However, after experiencing problems with gaining Native Title clearances over some chosen drilling sites on EL 3121, those holes were aborted temporarily. However, 2 RC holes for 399 m and one diamond hole to 420 m were able to be completed on EL 3120 to test IOCG targets adjacent to the Labyrinth Shear Zone. No significant mineralisation or downhole sample assays were returned. During the 2005 project reporting year further regional and infill gravity data were obtained (618 stations read on EL 3120; 517 stations read on EL 3121), mainly to better define the Kingsnag, Railway, Glendambo, Gosse North-East and Kingoonya East prospects. Gravity and magnetic data modelling was performed to assist in prioritising drill targets. Drilling comprised 10 aircore holes for 314 m to further test the southern end of the Labyrinth Shear Zone, plus one RC drillhole to 259 m to test the Railway gravity anomaly, south of Big Tank Outstation. No further field work was done from early 2006 until late in 2008. Minotaur Resources continued to refine new prospect geophysical models, notably for Kingsnag East, Kingsnag South-East and Glendambo West. The company also re-levelled much of the older gravity data pertaining to the Kingoonya Project licence areas. An airborne EM survey was planned, but did not commence. Some unsuccessful joint venture overtures were made to overseas-based companies for sharing in base metal exploration opportunities, while Minotaur Resources' uranium exploration offshoot Toro Energy undertook an interpretation of the palaeochannel distribution on the subject licences, to begin to assess the sedimentary uranium mineralisation potential.
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