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Accelerate Resources begins drilling at Thomas Creek cobalt-copper-gold prospect

Published 06 April 2018

Accelerate Resources has commenced drilling operations at the Thomas Creek cobalt-copper-gold prospect in Australia.

The firm has identified 3 immediate drill targets from the newly received 3D IP modelling at the Thomas Creek cobalt-copper-gold Prospect.

The 3D IP modelling has defined a large chargeable anomaly located along the eastern margin of an ovoid aeromagnetic body, below a surface copper-cobalt anomaly. The chargeable anomaly has a general NW- SE alignment with dimensions of approximately 400m at its widest and up to 600 metres in length. The depth to the top of the IP anomaly is approximately 100m below the surface.

Three angled diamond holes have been planned to test two shallow targets and one deeper target within the chargeable feature. Further drilling will be conducted to follow up any significant mineralisation intersected in the initial holes.

IP Survey Details

The Pole-Dipole IP survey was undertaken by Zonge Engineering and Research Organisation Pty Ltd under the Supervision of Southern Geoscience Consultants Pty Ltd, with a total of 10.8 line kilometres surveyed on five north-south and one east west oriented lines. The Line spacing is 150m on the north-south lines, and 200m on the east-west lines.

The infill IP survey has successfully defined a moderately high chargeability (Figure 2), low resistivity anomaly (Figure 3) beneath a surface cobalt-copper-gold geochemical anomaly (Figure 4). Three other separate satellite chargeable zones located on the limits of the current survey were also identified during the current survey. These satellite target areas will be investigated by future follow up IP surveys.

The commencement of drilling of the current central IP feature is first step of a potentially much larger program of exploration works in the Thomas Creek area.

Tasmanian Project Overview

The Company’s Mount Read Cobalt project is located on the Sorrell Peninsular in western Tasmania (Figure 5). The project encompasses a belt of Cambrian volcano sedimentary rocks correlated with the Mount Read Volcanics (“MRV”) of western Tasmania. The MRV are host to all Western Tasmania’s significant base and precious metal mines and mineral occurrences, several of which have been significant producers of base metals for over 100 years.

The two main prospects comprising the Company’s Mount Read Cobalt project that are expected be the focus of exploration activity in the first two years of operation are:

The Thomas Creek Co-Cu-Au prospect; and

The Henrietta Co-Ni-Cu project.

Previous exploration at Thomas Creek defined a Cu-Co-Au soil geochemical anomaly associated with an aeromagnetic and ground induced polarisation (IP) geophysical anomaly. Shallow diamond drilling completed by Plutonic Operations Ltd in the early 1990’s confirmed anomalous Cu-Co-Au but did not test the IP chargeability anomaly.

The combination of volcanic and intrusive rock stratigraphic association, geochemical signature, alteration assemblages, sulphide assemblages, and geophysical expression has been used by previous explorers to draw analogies between Thomas Creek and the Mount Lyell Cu-Au deposit of western Tasmania.

 

Source: Company Press Release