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Accelerate Resources begins IP geophysical survey at Thomas Creek Co-Cu-Au prospect

Published 01 March 2018

Accelerate Resources announced that exploration of the Mount Read Cobalt project has progressed significantly with the start of an Induced Polarisation (IP) geophysical survey at the Thomas Creek Co-Cu-Au prospect.


  • Government approval for Mt Read Cobalt drilling.
  • Infill IP survey underway – aimed at improv ing large Co target resolution.
  • Surface Cobalt Sulphide sampling program to increase afterwards.

 The sampling of surface Co bearing sulphides will also ramp up.

The infill Dipole-Dipole IP survey will comprise approximately 10-line km , on five north-south oriented lines and one east - west line, which is expected to take approximately two weeks to complete.This will be followed by surface sulphide sampling a longside the imminent drill program.

Modelling of the geophysical data will assist in defining potential disseminated sulphide drill targets and lead to the Company’s maiden drilling program, which is scheduled to commence soon after.

Previous broad spaced IP has defined a large chargeability anomaly located along the eastern margin of a large ovoid aeromagnetic body that displays a highly magnetic alteration rim and below a surface copper-cobalt geochemical soil anomaly.Visible copper sulphides previously reported from sampling by Accelerate Resources were located near this anomalous area.

Shallow diamond d rilling completed by Plutonic Operations Ltd in the early 1990’s confirmed anomalous Cu-Co-Au with chalcopyrite bearing sulphides in alteration assemblages res ulting from diorite intrusion into volcanic host rocks.The shallow drilling did not test the IP chargeability anomaly.

The Dipole-Dipole IP survey will infill and extend the earlier 2014 ground IP survey, which defined a large 500mx600m IP chargeability anomaly. Modelling of the previous survey data indicates that the top of the IP chargeability feature lies at a depth of 100m to 200m below surface.

Government Approvals are in place :

The proposed work programs for the up-coming diamond drilling at the Thomas Creek prospect have been approved by the Tasmanian Government.The project area is located within the Tasmania Mining Strategic Prospective Zone.The Mining Act 1993 (Strategic Prospective Zones), ensures access to certain areas of the state with high potential for mining.

Source: Company Press Release