UPDATE ON RECENT BURRA 3D MT MODEL ANNOUNCEMENT: SHALLOW CONDUCTIVE IOCG TARGET IDENTIFIED COMMENCING 200m BELOW SURFACE
Initial modeling by the University of Adelaide identified a 30 km long conductive drilling target located to the northeast of Burra (Refer ASX release 16th October 2018).
University of Adelaide 3D modeling indicates the large conductive IOCG target commences approximately 200 metres below surface, a suitable depth for cost effective RC drilling.
With only 14% of modeling completed to date, there is the potential to identify multiple shallow Tier 1 IOCG drilling targets within the remaining 86% of the Ausmex tenement suite.
Ausmex’s review of the geology in this area indicates that the sedimentary stratigraphy predominantly trends north-south in contrast to the oblique MT conductive structure. The conductive structure may be the result of massive sulphides within a resistive lithology.
As a further update, Emeritus Professor Ken Collerson has confirmed his advice that from Ausmex data examined to date, the hydrothermal systems at Burra are similar in chemistry to the hydrothermal ore forming fluids responsible for mineralisation at Olympic Dam.
