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WOOMERA MINING LIMITED - Corporate Spotlight

Woomera Mining is an Adelaide based explorer with high quality exploration assets in... Woomera Mining is an Adelaide based explorer with high quality exploration assets in regions of Western Australia and South Australia. Target commodities are Gold, Lithium, Iron Oxide Copper-gold and Ni-Cu-Co.More

Corporate Spotlight

Woomera Mining is an Adelaide based explorer with high quality exploration assets in regions of Western Australia and South Australia. Target commodities are Gold, Lithium, Iron Oxide Copper-gold and Ni-Cu-Co.
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INVESTOR PRESENTATION FEBRUARY 2020

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MT VENN GOLD PROJECT

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PROJECT SUMMARY - MT VENN GOLD PROJECT

2019 AGM Managing Director's Presentation


The Mt Venn Project is located 125 kms north east of the township of Laverton in the north eastern goldfields of Western Australia, is Woomera’s principal exploration target. Woomera purchased an 80% interest in the Project on 20 September 2019 from Cazaly Resources Limited (ASX:CAZ) (ref: WML ASX Announcement 20 September 2019). 


The establishment of Gold Road Resources Ltd’s (ASX:GOR) Gruyere gold mine (155.4 Mt @ 1.32 g/t Au for 6.61M oz., GOR announcement, 13 February 2019) just 30 km west of Woomera’s Mount Venn project has greatly improved exploration logistics in the area.


Figure 1. Location of the Mt Venn Project

The Mt Venn Gold Project consists of two granted exploration licences E 38/3111 and E 38/3150. The tenements which cover approximately 390km2 occur over some 50 kms of strike of the Mt Venn Greenstone Belt giving Woomera the dominant land position (>90%) over the Belt (Figure 2). 


Woomera acquired an 80% interest in the two Mt Venn exploration licences on 20th September 2019 from Cazaly Resources Limited (ASX:CAZ) through a cash and script transaction.


Figure 2. Mt Venn Greenstone Belt location

Mt Venn Greenstone Belt 

Cazaly first gained access to the Project in January 2017 with the grant of Exploration Licence 38/3111 following the recommendation from the Department of Aboriginal Affairs to grant access permits to the licence which lies within the Cosmo Newberry Aboriginal reserve which is also subject to a Native Title claim by the Yilka people. Cazaly signed a Native Title Agreement with the Yilka People and the Cosmo Newberry Aboriginal Corporation (CNAC) on 28th July 2016. 


The tenements are considered to be highly prospective for gold, nickel and nickel-copper-cobalt. Volcanogenic massive sulphide deposits may also be a possibility based on anomalous zinc, copper, lead, gold and silver recorded within felsic volcanics. 


Gold Potential 

The overall potential for gold discoveries is considered to be excellent. Historic exploration for gold has been limited however soil sampling, auger sampling and minor drilling outlined 12 coherent gold-in-soil anomalies that warrant systematic drilling. 


There are several gold targets that could be drilled once Heritage Clearances are completed. Foremost among the gold targets are historic small-scale mine workings on high grade gold quartz veining at Chapman’s Reward and Lang’s Find. At the Three Bears Prospect aircore and minor RC drilling reported gold grades over 1 g/t Au in a broad low-grade gold zone that can be traced over a strike exceeding 5 kms. In the current gold targets include: 


  • • Chapman’s Reward hosted a historic small-scale mine with production of 26.65 ounces of gold from 15 tonnes processed. A State Prospecting Party (SPP) in 1923 sampled the workings and reported 12 samples that averaged over 61 g/t Au. Rock samples taken by Cazaly returned gold assays grading to grading to 31.8g/t Au. 
  • • Lang’s Find (rock chip sampling returned very high grade assays including 208 g/t Au and 165 g/t Au). Lang’s Find has adjacent geochemical anomalies, none of which have been drilled. 
  • • Mt Cumming (rock chips including 8.4 g/t Au, 3.2% Cu and 3.9 g/t Ag) and adjacent geochemical anomalies none of which have been drilled. 
  • • Three Bears Prospect where aircore drilling has outlined gold including 12m @ 1.19ppm Au, 40m @ 0.36ppm Au and 36m @ 0.47ppm Au. 


Click Here to Read an Update on Drilling at Mt. Venn


 

MUSGRAVE ALCURRA-TEIYON PROJECT

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PROJECT SUMMARY - MUSGRAVE ALCURRA-TEIYON PROJECT

2019 AGM Managing Director's Presentation


The Musgrave Alcurra-Tieyon Project area lies immediately east of the Anangu Pitjantjatjara Yankunytjatjara (APY) lands. The Stuart Highway and the Adelaide-Darwin railway pass through the project area (Figures 8 & 9).


Exploration to date has included: 

  • • A Vector Residual Magnetic Intensity (VRMI) transform applied to the pre-existing magnetic data to compensate for remanence and magnetic susceptibility models have been calculated using 3D Magnetic Inversion software. 
  • • A ground Moving Loop Electromagnetic (MLEM) survey to further refine these targets, collecting approximately 100-line kilometres of data. 
  • • The drilling of 7 reverse circulation drill holes for an aggregate of 1,782m at the Healy, Gallagher and Walsh geophysical anomalies previously identified from 3D modelling of ground and airborne magnetic and ground electromagnetic data. 
  • • In March2019the Company announced that OZ Exploration Pty Ltd (OZ) had indicated its intention to bring its participation in the Musgrave Alcurra –Tieyon Project under the Heads of Agreement dated 11 September 2017, to an early close. Subsequent to that decision Woomera and OZ finalised all outstanding matters and the JV was terminated.
  • • DEM advised Woomera on 3 May 2019 that EL 6342 (formerly EL 6091) and EL 6343 (formerly EL 6092) and EL 6344 (formerly EL 6133 in the Gawler Craton) had been granted. The granting of these tenement restored Woomera’s Alcurra-Tieyon and Carulinia projects to their original foot print. 


Figure 8. Location map showing Woomera’s South Australian mineral tenements

Figure 9. Location plan showing geophysical targets drilled in 2018

All holes in the RC program intersected thick sequences of mantle derived mafic magmas with numerous zones of magnetite-rich gabbro and minor sulphides. 


Preliminary assays were recorded using a portable X-ray Fluorescence (XRF) analyser (Refer WML ASX Release 8 May 2019 – Musgrave Tenements Reinstated). The portable XRF data will be supplemented with laboratory assays for an expanded range of elements and petrological analysis. 


Stand out XRF results were recorded in the Galagher#2 hole over an interval of 78m from 23m to 101m with nickel averaging 719ppm, peaking at 1006ppm and chrome averaging 719ppm and peaking at 1140ppm.


Gallagher 

Three RC holes at Gallagher were designed to test a significant magnetic anomaly highlighted initially from Woomera’s Vector Residual Magnetic Intensity (VRMI) modelling and corroborated by a follow up Moving Loop Electromagnetic (MLEM) survey. 


A sequence of granitic basement rocks, thickening to the north west, were intersected at around 30m underlain by magnetite-rich gabbro, explaining the cause of the geophysical anomaly. Minor sulphides were present as chalcopyrite and pyrite. 


The three holes were drilled to 300m dipping to the south west at 60 degrees. The centre hole, Gallager#2, recorded elevated assays for nickel and chrome from 23m to 101m as shown in the Figure 10 and above average assays for cobalt as shown in Figure 11.


Click Here to Read More on Woomera Mining 



GAWLER CRATON - LABYRINTH PROJECT

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PROJECT SUMMARY - GAWLER CRATON LABYRINTH PROJECT  

2019 AGM Managing Director's Presentation


The Labyrinth Project (EL 6134) covers an area of 266 km2 and lies within Woomera Prohibited Area (WPA) in the central Gawler Craton about 30 kms North West of Kingoonya and 40 kms North East of Tarcoola between the Stuart Highway and the Adelaide-Darwin in rail line (Figure 12).


Figure 12. Location of EL 6134

EL 6134 encompasses part of Lake Labyrinth which is one of a series of salt lakes that are distributed along an arcuate fracture zone that extends from Tarcoola, south east to Lake MacFarlane. The Labyrinth Project is prospective for Nickel-Copper-PGE sulphide mineralisation and potentially for lode gold deposits. 


The key focus at Labyrinth is a coincident magnetic and gravity anomaly. A 3D inversion model indicates that the causative body has a footprint of around 1.2 kms by 0.5 km and that a 1988 diamond drill hole, which encountered trace pyrite, chalcopyrite and pyrrhotite throughout the 302m hole, narrowly missed the predicted body (Figure 13).


Figure 13. Coincident magnetic and gravity anomaly at Labyrinth

The tenement is covered by the Antakirinja Matu-Yankunytjatjara Native Title Claim (Figure 14). Woomera and AMYAC signed a Native Title Mining Agreement which was been officially registered. 


With the signing and registering of the NTMA, the Company notified the Department of Defence of its intention to conduct an on-country Heritage Survey as a precursor to drilling the target. That survey raised concerns over the location of the proposed drill holes at Labyrinth and drilling has been postponed pending further assessment of the site.


 Figure 14. - Location map showing EL 6134 (Labyrinth), EL 6246, ELA 2012/00119 and ELA 2012/00120 (Nawa) relative to the AMYAC Native Title Determination in blue and the Woomera Prohibited Area

Click Here to Read More on Woomera Mining

GAWLER CRATON - CARULINIA PROJECT

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PROJECT SUMMARY - GAWLER CRATON LABYRINTH PROJECT  

2019 AGM Managing Director's Presentation


The Carulinia Project lies is 10 km west of Oodnadatta and is situated close to and west of the Torrens Hinge Zone, a complex 25 km wide structure defining the eastern margin of the Gawler Craton (Figure 15).


Figure 15. EL 6344 Tenement location

The primary exploration target is a large coincident gravity and magnetic anomaly which displays striking similarities to that of BHP’s Olympic Dam and OZ Minerals’ Carrapateena IOCG deposits. 


Little is known regarding the crystalline basement in the area. Two historic drill holes have tried to test the gravity anomaly. CAR-01, drilled in 2002 by Platsearch and Inco, intersected Eromanga Basin sediments from surface to 320m, Adelaide Geosyncline – Arkaroola Subgroup sediments from 320-570m, before intersecting Palaeoproterozoic gneissic Peake Metamorphic rocks. 


A second drill hole by Barrick Gold in 2007 ( BCMRD0001) intersected Eromanga Basin sediments which were interpreted to lie unconformably over Peake and Denison which contained minor brecciated intervals, zones with moderate-weak sericite-chlorite+-hematite+-carbonate+-albite alteration, and numerous thin cross-cutting granitic dykes. 


Woomera believes that Carulinia is a potential IOCG body that warrants more detailed drill evaluation however, the depth to the modelled high density shells (450 – 600 metres) is beyond the current financial capability of the Company.


WML will look to for a suitable JV partner to advance exploration.


Figure 16. Mt Carulinia gravity contours

Woomera has undertaken 3D magnetic and gravity inversion modelling over the anomaly and the results indicate that the causative zone is composed of a highly magnetic core, surrounded by a high-density shell (Figure 17).


Figure 17. 3D Inversion model and previous drill holes

Woomera engaged ASIS International to review the drilling and geophysical data for the area. ASIS noted that the previous drilling had not explained the gravity or magnetic anomalies and that the centre of the gravity anomaly was approximately 1 km south of the previous drill holes. 


  • • Previous drilling has not explained the gravity or magnetic anomalies. 
  • • The lithologies intersected in previous drilling are open to interpretation 
  • • The centre of the gravity anomaly is 1 km south of the previous drill holes. 
  • • The magnetic sources is a complex body 
  • • The gravity-magnetic anomaly appears to be truncated by a major structure. 


Carulinia is an ~3km diameter, 12 Mgal gravity anomaly. 

The magnitude of the coincident magnetic and gravity anomalies over Carulinia compares favourably with those over Prominent Hill, Carrapateena and Olympic Dam. Previous drilling has not explained the gravity or magnetic anomaly (Figures 18 – 21).


Click Here to Read More on Woomera Mining

ABOUT US

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About Woomera Mining


Woomera Mining is an Adelaide based explorer with high quality exploration assets in regions of Western Australia and South Australia. Target commodities are Gold,  Lithium, Iron Oxide Copper-gold and Ni-Cu-Co.


Exploring for Commercial Metal Deposits

Woomera Mining Limited (Woomera) is an ASX listed exploration company based in Adelaide, South Australia with an extensive minerals tenement portfolio prospective for Copper, Lithium, Gold, Uranium, Iron Ore, Nickel and Cobalt.

The Woomera tenement package includes tenements in the Musgrave Province of South Australia (Musgrave Alcurra-Tieyon Project). The Company also has tenements in the Gawler Craton which are considered prospective for IOCGU deposits, Cu-Ni-Co deposits, RE and Precious Metals.


Woomera’s tenement portfolio also includes 9 granted tenements and 3 tenement applications in Western Australia including 2 granted tenements in the north eastern goldfields of the Yilgarn Craton (Mount Venn Gold Project), 2 tenements and 1 tenement application in the Pilbara region of WA (Pilgangoora Lithium Project), 3 lithium tenements near Ravensthorpe (Mt Cattlin Lithium Project), 1 lithium tenement and 1 tenement application at Binneringie near Lake Cowan and a WA lithium brine prospect over lake Dundas  (Lake Lithium Projects).


Corporate Objectives 

Woomera Mining Limited is an exploration company focussed on discovering economic mineral deposits (FIND), to define mineral resources (ADD VALUE) then to maximise value for shareholders (MONETISE)


FIND involves systematic exploration of the Company’s existing tenements and tenement applications as well as using the skills and knowledge within the Company to apply or acquire additional tenements. Target commodities are high demand metals - copper, nickel, cobalt, lithium and gold. 


ADD VALUE is realised by progressing exploration and resource drilling activities to the point where the likely size and grade of mineral discoveries can be reasonably determined. At this point the dollar value of the discovery can be estimated, giving the Company the information needed to determine the optimum development strategy. 


MONETISE can be realised through a number of mechanisms – Woomera undertaking owner mining, entering into joint ventures or complete or partial sale of assets to companies better positioned to develop particular projects.



Exploration Focus

Woomera is an ASX listed exploration company based in Adelaide, South Australia with an extensive mineral tenement portfolio prospective for gold, copper, nickel-copper-cobalt and lithium. The Company has 15 granted exploration licences and 3 exploration licence applications covering 6,631km2 in the Gawler Craton and Musgrave Province in South Australia, as well as Pilbara, South East Yilgarn and North Eastern Yilgarn in Western Australia. 


The Company’s principal exploration project is the Mt Venn Gold Project. Mt Venn is prospective for: 

  • • high grade lode gold 
  • • Gruyere-style porphyry-hosted gold 
  • • magmatic nickel-copper-cobalt 


The Company’s other exploration projects include: 


The Musgrave Province located in far norther South Australia which is prospective for: 

  • • magmatic Ni-Cu-PGE deposits within mafic-ultramafic rocks of the Proterozoic Giles Complex; and 
  • • silver-copper-zinc and rare earth mineralization within granites of the Pitjantjatjara Supersuite. 


The Company also has projects in the Gawler Craton area of South Australia where the exploration targets include: 

  • • Olympic Dam-style Iron Oxide Copper Gold Mineralization (IOCG); 
  • • ultramafic-hosted nickel, copper and rare earth mineralization near Lake Labyrinth; 
  • • Mississippi Valley style Ag-Pb-Zn mineralization in the Observatory Hill beds of the Officer Basin; 
  • • Challenger style gold deposits in the Archean-Proterozoic Mulgathing Complex; and 
  • • lithium rich brines at Lake Labyrinth. 


In Western Australia the Company also has a number of tenements prospective for lithium including: 

  • • hard-rock lithium in the Pilgangoora, Mount Cattlin and Cowan regions; and 
  • • lithium-rich brines in the playas of the SE Yilgarn. 

Read more about us on our website here.





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