Round 16 Geophysics and Drilling Collaborations program Final Report Mt Sainthill Gravity Expansion EL 22349

Abstract

The Molyhil W-Mo deposit is located approximately 330 km northeast of Alice Springs. Investigator Resources Ltd have entered into a staged earn-in agreement with Thor Energy to acquire up to 80% of the advanced W-Mo Project (located on EL 22349 and ML 23825). The Molyhil area is in central JINKA (1:100 000). The area hosts two significant examples of tungsten mineralisation, the Molyhil deposit and the smaller Pinnacle Hill prospect as well as several minor tungsten occurrences. The Molyhil and Pinnacle Hill occurrences are examples of skarn mineralisation associated with large granitic intrusions. Mineralisation occurs at the contact zone between altered Paleoproterozoic metacarbonate rocks of the Deep Bore Metamorphics (exoskarn) and the broad scale intrusive I-Type Marshall Granite (endoskarn). Previous exploration by other entities has attempted to define additional tungsten mineralisation in the region with little success. Investigator Resources Ltd determined that the regional 2x2km spaced gravity was insufficient in defining positive gravity anomalies likely to be associated with Molyhil-style mineralisation. Additionally, extensive gravity low anomalies are hypothesized to be associated with intrusive granites, which are a key ingredient to form Molyhil-style mineralisation. Funding was granted in 2023 as part of the round 16 Innovative Targeting grant. The primary objective was to develop a high-resolution gravity dataset that covers Molyhil and surrounding prospects. The ground gravity data was collected in November-December 2023 at variable spacings of 20x40, 60x120 and 100x200 metres. The acquired gravity data showed an order of magnitude higher resolution compared to the pre-existing regional gravity dataset acquired at 2x2km spacing. The new data has allowed for interpretation of basement lithologies and defined a new high-priority exploration target within 1km of the Molyhil deposit. Investigator Resources Ltd plan on drill-testing high-priority targets in 2024 as well as acquiring additional geophysical datasets to improve on the currently available low-resolution assets. The gravity survey was overwhelmingly successful in achieving the primary objective of the co-funding agreement. Investigator Resources Ltd aim to partake in future grant agreements to further increase the exploration potential of the Molyhil area.