NT Minerals (ASX:NTM) has received final geochemical results from the 2022 regional soil sampling program at its Redbank Project in the Northern Territory.
The results, generated by 2,879 regional soil samples covering about 600km-square and comprising both regional 500m-spaced surface soils, and 250m-spaced infill sampling over 2021 hotspots, have returned a maximum value of 1,209 parts per million (ppm) copper-in-soil.
NT Minerals says infill sampling has also confirmed strong anomalism up to 1,902ppm copper-in-soil, with all anomalous copper in soil analyses having corresponding multielement anomalism up to 21ppm bismuth (Bi), 19ppm antimony (Sb), and 4.1% manganese (Mn).
The company adds that the copper and multielement soil anomalism also broadly delineate the prospective Calvert Fault corridor, which is highlighted as a ‘significant’ target for copper mineralisation due to the presence of the multielement anomalism.
Regional soil sampling represents a core seasonal activity and has been undertaken every season since 2020 to build a foundation geochemical dataset spanning 48 elements. About 8,000 samples have been collected to date from the Redbank project, which has historically suffered from regional exploration inactivity.
Commenting on the results, NT Minerals Managing Director Hugh Thomas says: “Gaining prominence as an important stratigraphic target is the McDermott Formation, particularly where anomalous in surface sampling.
Although the Wollogorang Formation is a key stratigraphic, reductant horizon proximal to known copper mineralisation, the McDermott Formation is the first reductant horizon above the basal Westmoreland Conglomerate receptive to ascending basinal brines. Soil geochemistry in 2022 confirms sporadic multielement anomalism (Cu/ Bi/ Sb/ Mn) over or near, narrow surface exposures that require urgent follow up.
“Gaining prominence as an important stratigraphic target is the McDermott Formation, particularly where anomalous in surface sampling.”
Outside the anomalous Calvert Fault corridor, new anomalous spot clusters elsewhere contribute to existing regional understanding of copper and multi-element dispersion. Ongoing work in 2023 will advance these areas to elevate their exploration priority.
It’s pleasing [to] have completed a solid work program in 2022 including soils, drilling and geophysics which has clearly contributed to a deeper understanding of copper mineralisation in the district, benefiting our ongoing knowledge and ability to target future exploration.”
The company also notes anomalous exposures of the McDermott Formation require priority investigation, as well as Calvert South, which remains an ‘excellent’ early-stage target. Priority investigation is expected to comprise airborne geophysics, ground reconnaissance, and drilling and will be conducted as part of the 2023 field season.
Meanwhile, NT Minerals is currently in voluntary suspension across all of its listed securities. The voluntary suspension extension is requested until either the company provides clarity to shareholders and stakeholders regarding a potential legacy liability of NT Minerals relating to Burdekin Pacific’s remediation obligations regarding the McKinnon’s gold mine near Cobar, New South Wales, or until its financial position has been strengthened.
The company says it appears that Burdekin may have failed to complete remediation entered into with the regulator in 2005, noting that it has held discussions with the NSW Resource Regulator.
NT Minerals is an ASX-listed company that began its life as Redbank Copper and was built on positive human values of honesty, loyalty, and equality. The company’s Redbank project is situated in the southeast McArthur Basin and extends from the Northern Territory/Queensland border northwest to Glencore’s (LSE:GLEN) McArthur Mine in the Northern Territory. The project is wholly owned by NT Minerals.
Other assets included in NT Minerals’ exploration arsenal include the Millers Creek Project 700km northwest of Adelaide in South Australia.
Images: NT Minerals Limited
