EL6105 was granted to Spencer Metals Pty Ltd (ACN) (âSpencer Metalsâ) on 20 February 2018, the tenement is located approximately 20 km north of Moonta on the Copper Coast, northern Yorke Peninsula and covers approximately 17 square km. The area...
EL6105 was granted to Spencer Metals Pty Ltd (ACN) (âSpencer Metalsâ) on 20 February 2018, the tenement is located approximately 20 km north of Moonta on the Copper Coast, northern Yorke Peninsula and covers approximately 17 square km. The area had been explored contemporarily on-and-off since the 1972, the main commodities sought are copper and gold in the context of using an IOCG type model (Iron-Oxide Copper-Gold). Seven holes have ben drilled in the area in 1984 by Western Mining Corporation Ltd to test copper-molybdenum geochemical anomalies revealed from earlier auger drilling, with one hole returning slightly elevated copper and cobalt intervals. During Licence Year 1 to 19th February 2019, work completed on EL 6105 âWallaroo Plainâ included a literature review and the compilation of a digital database, the interpretation of potential field data, and the commencement of a land title search over the tenement. The desktop review to date shows an area of interest straddling the western boundary of EL6105 called Myponie which may contain interpreted transgressive, haematite-predominant, sulphide âbearing âbrecciasâ within the middle-upper Wallaroo Group, near magnetite- and haematite-altered metasomatites and highly altered (haematite-predominant alteration) Hiltaba Granite, close to a ~1590 Ma major fault which controlled basin architecture during the Hiltaba thermal event. On the basis of the new geological working map, created through the desktop review, and the favourable structural setting, Spencer Metals believes the Myponie play has good potential for the discovery of significant copper and gold mineralization. During Licence Year 2, ongoing literature review and digital database compilation work continued. Due to the start of the global pandemic COVID-19, planned field visits were postponed. An action plan was initiated by the company to deal with various lock down and minimisation measures, the companiesâ principles are based outside of South Australia and as such were subject to entry restrictions. COVID-19 will delay future planned exploration but to what extent is currently unknown. During Licence Year 3 to 19th February 2021, exploration work was significantly affected by COVID-19. Planned field visits were deferred due to health and safety considerations around interstate travel restrictions and the inherent risk of face-to-face meetings with rural stakeholders and the unnecessary anxiety such engagement would bring. A Stakeholder Engagement Plan was drafted. Archival drilling data captured, and sections constructed and geologically and geochemically interpreted. During Licence Year 4, again COVID-19 had material effect on work plans though a relaxation of travel restrictions was seen in the latter part of the reporting period. Planned field visits were deferred once again. A Stakeholder Engagement Plan, drafted previously, was updated. Previous archival drilling data was captured, and sections constructed and geologically and geochemically interpreted were further reviewed. During Licence Year 5, the final reporting period, no work was carried out on the tenement and as such no technical report was submitted.
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