During licence Year 10 to 6th November 2012, exploration work undertaken by JV partner Renaissance Uranium (RNU) comprised the drilling of five rotary mud-diamond drill holes targeting five local geophysical anomalies within the Glensea Prospect,...
During licence Year 10 to 6th November 2012, exploration work undertaken by JV partner Renaissance Uranium (RNU) comprised the drilling of five rotary mud-diamond drill holes targeting five local geophysical anomalies within the Glensea Prospect, geochemical analysis of selected core samples and the rehabilitation of all drill sites. Historic data was reviewed in relation to graphite prospectivity within untested regional shear zones in Lower Proterozoic sediments, with some follow-up ground-truthing. Interest was spiked due to the announcement by Archer Exploration Limited of high-grade graphite (39.25 % carbon) and flake size of up to 0.5 mm in length on its Wilklow prospect on adjacent EL 4693. An airborne Electro-Magnetic survey was flown over prospective zones defined along strike from the Wilklow Graphite Prospect within the western portion of EL 3978. The REPTEM Helicopter TDEM Survey was carried out by Geosolutions Pty Ltd during September 2012, with a total of 504.2-line km flown. Results of this survey identified multiple zones of strong conductivity, including two target zones that RNU interprets as along strike from Archer Exploration Limited’s Wilklow graphite prospect on EL 4693. The 5 vertical rotary mud-diamond holes (12RPBMD07-12RPBMD11) were drilled for a total of 1019 m (including 402 m of core), all holes, except hole 12RPBRD08, which failed to reach basement at a depth of 205 m, comprised a rotary mud drilled section to the base of Pirie Basin sediments, followed by up to 55 m of diamond drilled core within Proterozoic basement. Down-hole gamma logging was completed. Magnetic susceptibility was taken on core samples with a total of 201 readings taken. Of the 4 holes that were diamond cored, all intersected Lower Proterozoic metasediments and gneisses, and were intruded by at least two phases of younger granite. Narrow quartz sulphide veins and minor disseminated sulphides were observed throughout the intrusive granite phases, with visible copper sulphides observed in 2 out of the 4 holes. Sulphides were predominantly pyrite, although some chalcopyrite was observed. Down-hole natural gamma logging also indicated consistently elevated responses within the granitic intrusions, possibly reflecting uranium content. During licence Year 11, on renewed licence EL 5307 no field-based activities were completed on the tenement by either of Joint Venture partners. As such, no annual technical report was submitted. During licence Year 12, Renascor Resources Ltd (previously Renaissance Uranium Ltd) withdrew from the Joint Venture Agreement at the end of the reporting period (6/11/2014). Before withdrawing, Renascor undertook a review of stratigraphy for potential base metals and graphite mineralisation using AEM as the exploration targeting tool, with no further field-based exploration work taking place. Stellar has done no work on the licence for the period and hence no annual technical was submitted. During licence Years 13 and 14, Stellar Resource again undertook no field work on the tenement. A Joint Venture partner was still being sought. A renewal with a 30% reduction in tenement was applied for during the 14th licence year to offset the shortfall in required expenditure. During licence Year 15, the final reporting year, no work was undertaken during the period. Stellar were unable to secure a new Joint Venture partner, and as such the decision was made not to apply for a subsequent licence.
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