During the sixth year of the project, three gravity anomalies located on West Lake Torrens EL 4754, a short distance east of the Carrapateena IOCG prospect, were identified by Copper Range as worthy of follow up. A detailed infill ground gravity...
During the sixth year of the project, three gravity anomalies located on West Lake Torrens EL 4754, a short distance east of the Carrapateena IOCG prospect, were identified by Copper Range as worthy of follow up. A detailed infill ground gravity survey was acquired over each of these with the aim of identifying IOCG drilling targets. In total, 881 stations were read over three irregular 200 m x 200 m grids during July-August 2011. A geophysical consultant was engaged to model the gravity data. He identified that the Flying Doctor 2 anomaly was the most interesting, because it has a coincident 150 nT residual magnetic anomaly, the observed combination defining a subsurface body aligned along a NW-SE trending structural lineament. He interpreted that the likely depth to top of the anomaly's dense source body is between 500 m and 650 m. Magnetic basement depth estimates that he made for here are between 700 m and 1 km. No new work ensued during project Years 7 through 9, pending the likely sale of all the subject tenements to BHP Billiton Pty Ltd, but that offer of purchase was eventually withdrawn during 2013, causing Copper Range to consider whether it would continue to maintain their tenure. During project Year 8, Copper Range's further review of previous exploration results identified two additional IOCG type targets that the company considered worthy of follow-up: - HWD 1 drilled by WMC in 1982 on what is now EL 3959, on a circular magnetic high on a gravity ridge, intersected 235 m @ 0.11% Cu from 862 m depth, in mono- and polymict breccias and brecciated felsic volcanic rocks. The mineralisation is believed to be very similar to Olympic Dam style mineralisation; - MRD 1 drilled by WMC in 1982 on what is now EL 4755, on a complex magnetic anomaly with a coincident gravity high, intersected 60 m @ 35% Fe in pink felsic volcanic rocks from 828 m. The setting is considered to be very similar to that of the Oak Dam mineralised system. During Years 10 and 11 of the project, no work was able to be done due to financial constraints. Copper Range continued to pursue fundraising options which would allow it to soon resume actively exploring the project acreage. A corporate management board reorganisation was undertaken as part of a change of company ownership which is expected to reach financial settlement in June 2017. During Year 12, due to exploration expenditure shortfall an area reduction was applied to EL’s 5082, 5083, 5084, 5085 and 5086, with a reduction of 218 km2, for a total tenement area of 876 km2. Negotiations over a farm-in agreement with Cohiba Minerals Limited continued, and the company also underwent a management restructure. No fieldwork was completed during the period. During Year 13 exploration within the Olympic Domain Project recommenced after several years of restricted/no field work. Exploration consisted of low impact soil and rock chip sampling along with a ground geophysical survey. Remodelling and interpretation of available geophysical data was undertaken, along with a review of the geochemical and/or drill hole data, mineralogy, petrology, structural geology and metallogeny of the region. The soil and rock chip sampling programs were completed over the southern portion of EL 5970 “Pernatty C area”, along with sampling in the Peninsular-Andamooka area in EL 6121. Sampling within EL 6121 was undertaken by Euro Exploration with 28 rock chip and 68 soil samples collected for a 51-element suite ultra trace ICPMS analysis. A total of 58 soil sampled were collected for analysis over EL 5970. Detailed gravity surveys were completed over the Pernatty B or Horse Well area which comprised EL6122, EL6183 and EL5970 (northern component). A total of 1181 gravity station readings were collected along 70 north-south lines as part of the Horse Well survey. Results from the exploration activities showed considerable promise for multiple iron oxide copper gold (IOCG) targets within the Horse Well area. Additional detailed gravity and magnetotellurics surveys have been approved for the next stage of work which will be aimed at target generation for deep drilling. Copper anomalism associated with an NNE trending magnetic high was identified in the Peninsular-Andamooka region (Lake Torrens) and as such the area will be subjected to further geophysical and geochemical investigation. Zinc anomalism in the NW corner of the Pernatty C area (part of EL5970) coincides with a magnetic anomaly and a possible NW trending structural zone and may be associated with stratabound mineralisation similar to that found at Mt Gunson. Further geophysical investigations and more detailed geochemistry have been approved for future programs.
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