Final report for EL 27483 24 March 2010 to 10 March 2016

Abstract

The Lorella Project consists of one tenement (EL 27483), located in the northeast of the Northern Territory. Over the past several years the tenement has been visited many times and a significant amount of grass-roots exploration has been undertaken. To-date USI have discovered one new manganese prospect and re-discovered the Sly Creek prospect and the unnamed #00902 Pb occurrence from the NTGS database. Within previous investigations, USI have identified anomalous base metal and manganese occurrences. The base metal mineralisation appears to be fault controlled and has some similarities to other mineralisation in the Mount Isa Belt and McArthur Basin. The copper mineralisation at Sly Creek outcrops along a 400 metre section of a northwest trending fault zone. Soil geochemistry suggests there is further mineralisation in the surrounding area and IP surveys indicate the mineralisation continues to north and south and is open at depth. Copper grades up to 25% make this occurrence worth further investigation and at least four diamond drill holes are recommended to test the mineralisation at depth. Manganese mineralisation occurs to the northwest of the Sly Creek Copper occurrence and appears surficial and gives no significant IP or EM responses (using a CMD frequency domain instrument). The occurrence remains of interest because of the apparent proximity to base metal mineralisation and should not be discounted. The results to-date on the EL are encouraging and further soil surveys and geophysical surveys as well as drilling are recommended. Unfortunately due to the decline in the price of copper and manganese USI have decided to relinquish their Lorella project (EL 27483).