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Magnum Mining starts drilling at Cloncurry East project

Published 27 October 2017

Magnum Mining has started drilling programme at the Cloncurry East project in Australia.

Key Points

  • The proposed drilling programme at the Cloncurry East project is now scheduled to commence during the week commencing 30 October 2017.
  • Drilling will be by reverse circulation and a programme of 15-20 holes totaling 2,000- 2,500 metres of drilling is planned.
  • Whilst the majority of the drilling will be focused on the known mineralised areas within the Notlor and Salebury prospects, key structural and geochemical targets will also be tested at the Pumpkin Gully, Prince Edward, Kind Edward and Crow’s Nest prospects.

Overview

Magnum’s Cloncurry East project consists of two tenements groups and is located between 10-20 kilometres east of Cloncurry in North West Queensland.

The project lies within the highly mineralised Mt Isa Eastern succession with nearby mining operations and advanced projects including Ernest Henry (Cu-Au), Monakoff (Cu-Au-Pb-U), Great Australia (Cu-Au), Rocklands (Cu-Au) and Dugald River (Zn-Pb-Ag).

The Cloncurry East project area is at an advanced stage of exploration and is considered by the Company to be highly prospective for iron oxide copper gold (“IOCG”) +/- cobalt mineralisation and variants of this style of mineralisation.

The project area contains two advanced resource targets – Salebury, which already has initial (2004 JORC) indicated and inferred resource of 1.3 million tonnes grading 0.9% Cu and 0.5g/t Au and Notlor where previous exploration has outlined a zone of coherent mineralisation at similar grades to Salebury and which is also open at depth and along strike.

The Cloncurry East project also contains a number of advanced exploration targets where a combination of geochemical surveys, historic mining and in some cases limited drilling has defined drilling targets. These targets include Pumpkin Gully, Prince Edward, King Edward and Crow’s Nest. 

As previously advised to the market, there is an extensive data base available over the Cloncurry East project.

During the past three months Magnum has undertaken a detailed review of this data base. This review has included a 3D analysis of previous drilling over Salebury and Notlor by Maptek Pty Ltd, using deep learning algorithims to better understand the stratigraphic and structural controls on the mineralisation. In addition, detailed field studies including the ground truthing of both existing and potential exploration targets has also been carried out.

This review has determined that both the Salebury and Notlor resource targets are structurally complex and has indicated that fold repetition of the known mineralisation at both of these prospects is possible at depth and along strike. There could also be repetitions’ located under cover up and down dip.

The drilling programme will test for these possible repetitions’ within these target areas.

At the Pumpkin Gully prospect previous drilling intersected zones of mineralisation which showed poor continuity down dip and along strike. The data review has determined that this lack of continuity is likely the result of some structural complexity as the Pumpkin Gully prospect lies within and adjacent to a large fold axis.

As a consequence, the mineralisation could be structurally controlled and a number of drilling targets have been selected to test this hypothesis.

The Crow’s Nest and Prince Edward and King Edward exploration targets represent early stage targets with surface geochemistry and in some cases historic workings indication the presence of anomalous Cu.

The Salebury and Notlor targets also have zones of Co enrichment although information from the existing data package is limited. 

As part of the drilling, metallurgical test work will be carried out on selected drill samples to determine the most favourable treatment options.



Source: Company Press Release