Astute Metals launches ANT geophysical survey at Georgina Basin IOCG Project in Northern Territory

Astute Metals (ASX:ASE) reports once it completes an ambient noise tomography (ANT) geophysical survey at its Georgina Basin Iron Oxide Copper-Gold (IOCG) Project, surfaces of 2 broad cover sequences of the Georgina limestones and Kalkarindji flood basalt will be established over the company’s project area.

These will be used to construct a series of constrained geophysical inversion models for gravity and magnetic data, which will provide a greater insight into the basement geophysical anomalies that could be characteristic of IOCG-style mineralisation, and warrant drill testing. Astute says this targeting work will be completed in Q4 2023.

The company has now launched an ANT geophysical survey over its ‘highly prospective’ central tenement within the Georgina Basin Iron Oxide Copper-Gold Project in the Northern Territory. 

The $16.16 million market capitalisation company reports the ANT survey utilises nanosatellite developer Fleet Space Technologies’ ExoSphere technology, which is the ‘first of its kind’ to be employed in the frontier IOCG-prospective East Tennant region.

The ANT survey comprises 192 planned survey points stretching across a 14km survey axis that incorporates previous drilling and is expected to be completed during August 2023.

Astute says geodes are placed in the field and left in place until sufficient seismic data has been collected, after which they are relocated to a new survey point.

The intent of the ExoSphere survey is to gain an improved understanding of the subsurface structure, which, when used to contain Astute’s existing gravity and magnetic data, is expected to be a ‘highly powerful’ tool for identifying IOCG-style targets for future drill testing.

This survey is also being co-funded by a $100,000 grant awarded to Astute under round 16 the Northern Territory government’s Geophysics and Drilling Collaborations program. The company notes the award of this grant is a testament to the ‘sound’ technical rationale employed by Astute’s technical team in the survey design.

Commenting on the ANT survey, Astute Metals Executive Chairman Tony Leibowitz says: “Drilling to date has indicated excellent potential for a significant copper-gold deposit within the central tenement area.

Data from this new ANT survey, which is supported by a co-funding grant from the NT government, will allow the Astute technical team to refine existing geophysical information and narrow in on drill targets, providing an elegant solution to the challenge of exploring for a world-class deposit undercover.”

Drilling to date has indicated excellent potential for a significant copper-gold deposit within the central tenement area”

Previous drilling conducted across the central tenement area at Georgina and its previous operator Greenvale Energy (ASX:GRV), targeted coincident magnetic and gravity anomalies. This drilling intersected prospective host rocks that displayed alteration and geochemical anomalism that could be associated with an IOCG-style mineralising system.

Astute Metals is a Sydney-based critical minerals explorer focused on its portfolio of assets in Australia and the US. These assets include the Polaris and Altair Lithium projects and the Needles Gold Project in Nevada, US, along with the Governor Broome Mineral Sands Project in Western Australia, and the Georgina Basin IOCG Project in the Northern Territory.

As of 30 June 2023, Astute had $3.24 million cash at hand, according to its latest quarterly report published on 28 July 2023.

Write to Harry Mulholland at Mining.com.au

Images: Astute Metals NL
Written By Harry Mulholland
Hailing from the Central Coast region of NSW, Harry is a passionate journalist with a background in print, radio and ESG news. When not bashing away on his keyboard, he can be found brewing a coffee or playing with his dog.