MIDAS Paterson Project

Copper is currently going bunta.
So just had a little rummage and some fact checking on our E45/5107 license. Currently waiting on soil sample results from the lab on 5 of the 7 priority targets. There has been a number of companies which have held portions of our tenement and performed exploration on these and include WMC, CRA and ENR even held some of our tenements before surrendering them. At one stage WMC were exploring for diamonds on our tenements.


As it states above, after Nifty Cu deposit was discovered every man and his dog started to look for copper in this region and alot of focus was directed towards the Broadhurst formation, within which the Nifty deposit lay.
Our E45/5107 is situated over this formation or at least half of our tenement does.



Ours is the pink one and the yellow one shows ENR's Yenna project with BM1 area near the red triangle which will be getting drilled. This has been drilled before and below is some of their drill results.


Some nice grades of Cu there. Now on our land holding most of the exploration was done on the northern section but not much on the southern section which also laid over the Broadhurst formation.



In come MIDAS Resources. Who do an extensive and thorough table top information gathering on all the exploration which has gone on and we have all their research as we bought this project from them which has saved us time and money and plenty of it.



Now as a result of this data collation they came to the conclusion that they had " identified a potential Nifty-style copper target in the south west portion of the Broadhurst Formation" of their tenement which is also the south west of ours



So they conducted aerial VTEM surveys and low and behold discovered "coincident magnetic and EM anomalies within the basin"










So they handed the results to consultant Geophysicist's for analysis


Once again the reference to the similarity to Nifty Copper deposit and subsequently decided to sink a diamond drill to around 350m.




So unfortunately or fortunately for us they did not hit any mineralization's with the diamond drill, but they did get a hit on other RC drill they conducted, below is a small portion of the results but am not game to try and read this, if someone can please let me know what sort of percentage they were hitting of Cu. Strangely am more excited about our copper than I am about Reedy's.



So as it recommends above.


We have just carried on, completed soil sampling and Ionic testing to get a better picture of the geochemical distributions so that we may plan a future drilling campaign and we got all that for 16mill shares plus 1% smelter royalty.
They have performed sampling over the south western EM zone but a little disappointing they chose to leave the South East one out from the sampling program. Any way looking forward to results especially as over the last 6-7 years soil and Ionic sampling analysis methods have greatly been enhanced.
Looks like the only thing which is going to take the foot of the brake is going to be drill results and that is still at least 4-6 weeks off.
AIMO only and goodluck to us all.