Diversified explorer Enterprise Metals (ASX:ENT) has identified several ‘strong’ conductors through a recent moving loop electromagnetic (MLEM) survey at its Murchison Zinc-Copper Project in Western Australia.
In June 2023, the $3.74 million market capitalisation company acquired 6 survey lines of ‘high-powered’ ground-based MLEM over airborne EM targets associated with the historical AM14 and Eastmet massive sulphide zinc-copper prospects.
This MLEM at AM14 revealed historical drilling through a ‘large’ conductive feature intersected base metal mineralisation, and ‘high-grade’ base metals and gold were intersected up-dip from the conductor, which is untested down-plunge from known mineralisation.
Enterprise says no drilling in the area has intersected the smaller discrete anomalies, and a ‘highly conductive’ and thick unit is coincident with magnetic anomalies.
At Eastmet, the MLEM contains 2 discrete conductors in line 4, and no historical drilling is recorded close to the modelled plates.
Enterprise reports follow-up drilling, downhole EM (DHEM), and MLEM are recommended to characterise and test the anomalies identified.
In early 2023, geophysical consultant Terra Resources integrated the airborne EM data with Enterprise’s detailed ground gravity and airborne magnetic data, along with historical surface and drillhole geochemistry, which identified several targets for follow-up.
Further, mapping by Esso Exploration and Production Australia and Eastmet Minerals in the early 1970s discovered a number of gossan outcrops rich in zinc and copper near Wattagee Well, 30km north of Cue in Western Australia.
These prospects were explored with rock chip and soil sampling, an INPUT survey, induced polarisation (IP) surveys, and angled percussion and diamond drillholes.
Esso intersected ‘significant’ downhole widths and grades of zinc-copper sulphide mineralisation at AM14 and Eastmet. Enterprise reports most of these holes were shallow, although deeper holes at AM14 returned the best results, including WP138 with 3m @ 7.5% Zn from 228m and WP135 with 3m @ 4.68% Zn from 164m.
In September 2022, New Resolution Geophysics Australia completed a helicopter-borne EM survey north of Cue for Enterprise. This survey was conducted over historical felsic volcano-sedimentary suites hosting the Wattagee and Eastmet Zinc-Copper gossan trends.
Conductivity Depth Imaging (CDI) of the TEM data at an RL of 275m identified 5 clusters of conductors associated with the known isolated prospects discovered in the 1970s.
Enterprise Metals is a Perth-based gold, lithium, and base metals explorer focused on its 6 projects in Western Australia. These assets include the Doolgunna, Murchison, and Perenjori projects, along with a 30% interest in the Fraser Range Joint Venture Project with Constellation Resources (ASX:CR1) and an option to purchase the Bullfinch and Mandilla projects.
The company had $699,000 cash at hand on 31 March 2023, according to its latest quarterly report published on 28 April 2023.
Write to Harry Mulholland at Mining.com.au
Images: Enterprise Metals Ltd
