Gascoyne Base Metal Project

   
 

Potential New Base Metal Discovery in the Gascoyne Province

 

The Gascoyne Base Metal Project (GBMP) is located approximately 250 km to the east of Carnarvon in the Gascoyne region in Western Australia covering an area of approximately 370 km2. GBMP is a joint venture between Altera Resources Limited (Altera) and ABM Resources NL, whereby Altera is earning a 65% interest in GBMP.

 The GBMP covers an area of mid-Proterozoic aged, metamorphosed sediments and volcanic rocks which have been subjected to several phases of tectonic deformation and intruded by granitoids.

 The Company is targeting the discovery of a SEDEX style massive sulphide base metal deposit at GBMP and has completed significant exploration activities since reinstatement of quotation of its shares on 11 January including auger drilling geochemistry and RC drilling.

 The auger drilling geochemistry program highlighted five zones/targets worthy of follow-up RC drill testing.  The RC drilling program has resulted in a potential new base metal discovery at GBMP with significant results of up to 2.3% Pb and 0.9% Cu. This has proven the Company’s geological model of base metal mineralisation being associated with concident soil geochemistry and "thumbprint" magnetic anomalies.

Soil Geochemistry

A systematic auger drilling geochemistry program was completed for a total of 397 holes/samples at GBMP by Snap Geochem.

 The systematic soil geochemical auger drilling program comprising 397 drill holes/samples targeted two areas where previous reconnaissance geochemistry  had returned anomalous Pb and Zn  values (953 ppm Pb and 487 ppm Zn in rock chip samples and 408 ppm Pb and 156 ppm Zn in soil samples) coincident with “thumbprint” magnetic anomalies.

Soil geochemistry was effected by taking samples from 0.5 – 1.5m deep, vertical auger-drill holes (thus eliminating any surface contamination).  The auger holes were on 50m X 200m and 50m X 400m spacing across two areas in the NW and SE part of the project.  No hardpan was reported from the drilling.  The progenitors of the regolith samples were identified in about 60% of the samples, with “mica schist” and “amphibolite” being dominant.  No granitoids were sampled.

 Samples were analysed for Pb-Cu-Zn-As-Ba-Cr-Ni by mixed acid digest and determined by Inductively Coupled Plasma (ICP) Mass Spectrometry and Inductively Coupled Plasma (ICP) Optical Emission.  Only Pb-Zn-Cu-Ba were considered to be relevant.  Anomalous Zn and Pb values of up to 566 ppm and 1150 ppm respectively were received and the results highlighted that at least five zones/targets of the geochemical program were worthy of follow-up RC drill testing.  

A table of the anomalous (above background values) multi element results with coordinates of the drill holes/samples is set out below:

Sample No

East

North

Pb

ppm

Zn

ppm

Cu

ppm

Ba

ppm

GPMB16

370289

7284252

184

466

 

 

GPMB49

370469

7285357

357

1550

 

 

GPMB50

370492

7285297

92

204

 

 

GPMB64

370712

7284945

1150

398

 

 

GPMB65

370692

7285000

95

 

 

 

GPMB77

370704

7285601

212

178

264

 

GPMB154

368704

7284904

341

284

 

 

GPMB153

368698

7284851

 

 

 

1140

GPMB324

377992

7281744

90

386

 

 

GPMB338

378985

7282298

102

444

 

 

GPMB354

378620

7281801

117

380

 

 

GPMB353

378607

7281753

 

 

 

1080

GPMB355

378607

7281849

 

432

 

 

GPMB372

378372

7281950

 

246

 

1610

GPMB373

378373

7281900

87

184

 

1434

GPMB371

378376

7281997

93

 

 

 

RC Drilling Program

 An RC drilling program to follow up the auger soil geochemistry completed in January 2008 which identified coincident Pb-Zn anomalism in several discrete zones, was carried out on five sites during the last half of March. A total of 30 drill holes for 2136m were completed.

 Four anomalies within 300m of each other in the northwest of the project area (Area 1) were tested by 16 inclined RC holes for a total of 1128m with most holes extended to approximately 60m vertical depth. The host lithologies in this area are predominantly high grade metamorphics (quartz-biotite-garnet gneiss) probably derived from greywacke-type sediments. Amphibolites present may have been derived from intercalated mafic volcanic or possibly from late stage doleritic intrusions. The area has been complexly folded by more than one phase of deformation and subsequently intruded by granitoid phases.

 Significant base metal values intersected in three holes (GRC004, 014 and 016) at Area 1 which were drilled on three traverses (nominally) 50m apart. Lead sulphide (galena) was identified in RC drill chips from GRC004 and copper sulphides (chalcopyrite) from GRC016. In each hole these sulphides are associated with evidence of hydrothermal alteration including hematite-silica-magnetite (i.e iron and silicon addition) together with quartz and carbonate veining. Anomalous gold, silver and zinc values are also present.

 These intersections at Area 1 strike NE-SW and are parallel to the palaeo-stratigraphy (see attached plan and drill cross section). The alteration and sulphide mineralisation outlined at Area 1 may be peripheral to more significant metal deposition. Table below lists significant base metal values intersected in Area 1.

Drill Hole

North

East

Dip

Azimuth

Interval

Pb

ppm

Cu

ppm

Zn

ppm

GRC004

7285330

370550

-60

180

59-62

4890

2310

790

 

 

 

 

 

65-66

2.3%

0.6%

0.3%

GRC014

7285345

370600

-60

180

67-70

1440

800

1060

GRC016

7285320

370510

-60

180

56-59

130

5040

450

 

 

 

 

inc

58-59

 

0.9%

 

Area 2 about 9km to the southeast of Area 1, is a 1200m long stratiform lead-zinc in soil anomaly that is in part, coincident with an airborne-magnetic “thumbprint” anomaly. Fourteen inclined RC holes for 1008m were drilled on four traverses 200m apart into this zone. Anomalous zinc values were returned (max. 1m value of 0.17% Zn) associated with anomalous lead and gold values (see table below). Further sampling will be carried out to determine continuity or trend of mineralisation. The host rocks are similar to those encountered at Area 1 to the northwest.

Drill Hole

North

East

Dip

Azimuth

Interval

Pb

Cu

Zn

GRC020

7281890

378600

-60

180

70-71

75

39

1690

Induced Polarisation and Mise a la mass surveys

An Induced Polarisation (IP) survey completed to follow up the very significant RC drill results has outlined a deeper and larger chargeable zone. A review of the IP survey data and preliminary two-dimensional modelling suggests that this zone lies below 100 m depth. IP surveys over a wider area, to outline significant bodies of sulphide mineralisation were recommended by the consulting geophysicist.

Geological interpretation of Aerial Photography

Geological and regolith interpretation of 1:25,000 aerial photography data has revealed tonal banding suggestive of relict stratigraphy and locally, there is evidence of conformable chlorite bands in the strata; this is believed to have been derived from mafic/basic flows, but may also represent hydrothermal alteration.

The aerial photo-interpretation has confirmed much of the structure as implied by the previous aeromagnetic data interpretation. The dominant feature in the project area is an elongate, northwest-striking antiform whose western end is intensely deformed by faulting and folding. A granitoid occurs as numerous discrete apophyses in the midst of the contorted gneisses. At the eastern end of the antiform there does not appear to have been the same level of deformation. In this zone several iron/manganese-stained outcrops were identified; these are of great interest and may prove to be gossanous.

The quartz-feldspar-mica-garnet assemblages seen in the RC drill cuttings support the concept that the bulk of the rock sequence is derived from fine to coarse greywacke-type sediments. These are now “quartz-mica schists” (or gneiss). Greywacke-type sediments are generally suitable host rocks for SEDEX type base metal deposits.