Final Report Creating Opportunities for Resource Exploration (CORE) Initiative Murphy Project (EL 9319, EL 23573 and EL 29898)

Abstract

Lagoon Creek Resources Pty Ltd (LCR), (a wholly owned subsidiary of Laramide Resources Ltd) is the titleholder of the Westmoreland Uranium Project. LCR has been exploring for Westmoreland-style, unconformity related uranium in a number of Northern Territory tenements which are adjacent to Westmoreland. The Company was successful in obtaining a co-funding collaboration with the NTGS with a submission proposing an airborne gravity survey utilising the FALCON AGG system to evaluate licences held by the Company within the underexplored Murphy Inlier. The Company believes the airborne gravity survey will provide the same resolution as a ground based survey and will help map and target structures and offsets in the basement up through the Westmoreland Conglomerate in the Murphy Region. It is believed that structural positions have provided a conduit for mineralising fluids into fault segments. Furthermore, in the northern regions of the Project area, the McArthur Basin has the potential for Pb - Zn McArthur River-style targets. Gravity will greatly assist with understanding the structure regime of this area. Geophysical contractor CGG Aviation (Australia) Pty Ltd was commissioned to conduct the FALCON Airborne Gravity Gradiometry, Magnetics and DTM Survey. The aircraft was based out of Burketown Airport with production flights completed in August 2018. A total of 8 production flights were flown with a combined total of 3,007 line kilometres of data acquired at a nominal survey height of 80m. From the initial examination of the dataset, some interesting structures are evident which provides confidence that the airborne survey has most likely achieved the programs established goals. The on-going work program will concentrate on detailed processing of the new airborne gravity and magnetic survey data and incorporating it with existing regional surveys.