RC/Diamond Drilling of the M1 Magnetic Anomaly Marqua Project

Abstract

The Marqua area has previously been targeted by other companies for base metal and diamond exploration, and more recently by Uramet Minerals Limited (Uramet) for phosphate (as well as base metals). Because of the contrasting oxidised and reduced sedimentary rock packages present in the Marqua project area together with the presence of major fault systems that could act as feeders for hydrothermal fluids, it is considered that the area is prospective for shale-hosted Kupferschiefer style base metal mineralisation within both the Neoproterozoic and Cambrian strata. The M1 anomaly was originally detected from regional aeromagnetic data, subsequently better defined by ground magnetics conducted by Elkedra. The ground gravity survey, and a subsequent detailed ground gravity over the anomaly indicated that it was likely to be a granitic intrusion. Uramet's target therefore was base metal, gold, and silver mineralisation associated with a granitic plug. It was considered that the granite may have acted as a heat source, possibly re-mobilising and concentrating base and precious metals at the margin of the intrusive. Modelling of the magnetic data indicated that the plug was approximately 600 metres long and approximately 500 metres in diameter, with the top of the plug likely to be at a depth of around 200 to 250m below surface. As part of the DRDPIFR Geophysics and Drilling Collaborations program, Uramet was awarded 50% of the direct drilling costs (up to $31,950) of drill testing the M1 magnetic anomaly. QDD01 was drilled to test the M1 magnetic anomaly, consisting of a 239.7m RC pre-collar, followed by a 22.7m NQ diamond tail, for a total hole depth of 264.4m. It was planned to intersect the sediment-granite contact with diamond coring, unfortunately the contact was intersected in the RC pre-collar rather than in the diamond tail. This is partly due to the granite likely being slightly wider than expected, and partly due to the hole dropping significantly from -60 degrees at the surface, to -74 degrees near the end of the hole. The drilling confirmed that the anomaly was a granitic plug, but analysis using a portable Niton XRF analyser revealed that the drilling failed to encounter any significant base metal mineralisation. Ten samples covering the granite-sediment contact were also analysed by a Perth laboratory for Au, Ag, Cu, Pb, and Zn. The laboratory analysis revealed no significant gold or base metal values. Uramet does not intend to do any further work on the M1 Anomaly.