Australian mineral exploration and development company Peak Minerals (ASX:PUA) reports a recently completed moving loop electromagnetic (MLEM) that demonstrated positive results will be diamond drill tested from Q1 2023 at the Green Rocks and Earaheedy projects in Western Australia.
The company says the MLEM has confirmed conductivity down-dip and north of the downhole electromagnetics (DHEM) target at the Copper Hills prospect that was completed in 2010.
Both modelled plates dip towards a deeper versatile time domain electromagnetic (VTEM) target. Peak Minerals speculates these the plates represent disseminated copper mineralisation which is ‘generally’ seen above more ‘significant’ mineralisation.
The diamond holes planned for the upcoming program at Copper Hills will target the deeper VTEM anomaly. Diamond drilling will also take place at the Rixon prospect to follow up the Lady Alma-Rixon gabbro contact areas and coincident historical VTEM anomaly, and at the Earaheedy prospect to follow up on VTEM targets.
Peak Minerals Chief Executive Officer (CEO) Jennifer Neild says: “It is now time to diamond drill test the Rixon and Copper Hills area. The depth of interpreted mineralisation requires a reliance on the strong geological modelling from geochemistry and geophysics that has been undertaken in the past year.
“Adding to the excellent historical geological mapping, we’ve further defined areas of interest where indicator elements and elemental ratios overlap with geophysical anomalies”
Despite having many historical holes and samples across the ground, the area hadn’t been sampled for all elements needed to effectively target mineralisation until Peak picked up the ground. Adding to the excellent historical geological mapping, we’ve further defined areas of interest where indicator elements and elemental ratios overlap with geophysical anomalies.
At Earaheedy, we are looking forward to getting back on the ground to follow-up these geophysical anomalies defined by VTEM. The recent reprocessing of geophysics at both Green Rocks and Earaheedy has given us cause to re-examine our preconceived notions about the geology and I’m incredibly excited to see what comes out of the ground.”
At Copper Hills, Peak Minerals reports geological logging of historical core suggests some intercepts of copper are of magmatic nature rather than shear hosted. Previous attempts at defining the stratigraphy through diamond drilling did not achieve the hole depth required and ultimately was redefining the shear hosted copper-gold (Cu-Au).
The company has also produced 3D geological models from data gathered over 2022, which it states has helped the planning of the upcoming diamond drilling program which will target deeper VTEM anomalies using the newly acquired MLEM to vector in on this.
Although ground geophysics may not be effective beyond a depth of 400m, Peak Minerals states it will be useful in mapping geology above this depth. The company believes that vein and disseminated mineralisation is being mapped by the weak conductivity near the surface.
Furthermore, the company says induced polarisation (IP) surveys are a useful method of mapping disseminated mineralisation, however diamond drilling to test the MLEM and VTEM target is necessary.
Peak Minerals reports proposed drilling will take place at Rixon to follow-up the Lady Alma and Rixon contact area, where it is believed that the edges of the ultramafic intrusion remain prospective.
Elevated elements such as cobalt (Co), copper (Cu), nickel (Ni), titanium (Ti), chromium (Cr), magnesium (Mg), iron (Fe), sulphur (S), and ratios of these elements have helped define the ‘fertility’ of the system and aided in targeting particular ones.
This has also been done in combination with the results of the reverse circulation (RC) drilling program completed in mid-2022, as well as geological mapping and geophysical processing and interpretation.
Peak Minerals states this RC drilling program returned elevated platinum (Pt) and palladium (Pd) results which were intersected for the first time at Rixon, indicating a copper-nickel-platinum group element system (Cu-Ni-PGE) system. The company notes PGE horizons are ‘typical’ of a magmatic system.
At Earaheedy, the company reports reprocessing of historical VTEM data was completed with ‘significant’ conductive features identified in EM imagery. While planning ground geophysics, the data was reprocessed a second time and demonstrated slight changes to the target area.
Peak Minerals states both zones are overlain by copper oxide anomalism on surface, though the ‘high-grade’ copper assays including EHAC0024 which intersected 4m @ 1.2% Cu, overlie the newer conductive body. The company says both targets will be investigated.
Peak Minerals is an Australian mineral exploration and development company with a portfolio of multi-commodity projects throughout Western Australia. These include the Green Rocks, Earaheedy, Kimberly South, and Carson projects.
The company’s portfolio is centred around known and ‘highly’ prospective copper and kaolin producing regions.
Images: Peak Minerals Ltd
