Exploration
We have a strong record of discovery and are engaged in exploration activities that span the breadth of the exploration pipeline from early-stage reconnaissance to advanced targeting.
The Exploration Team is well established and uses leading edge technology through established pathways to research institutions that provide the latest advice on exploration methodologies and advanced targeting in the mineral exploration industry.
Our exploration pipeline in the Cobar Basin encompasses the Cobar and Nymagee Districts. Together these include in excess of 125 exploration prospects, 21 of which are at the advanced drilling stage.
Exploration portfolio
Exploration activity
Stage 1: Reconnaissance
This stage involves broad land coverage via airborne geophysical surveys and preliminary ground assessments to identify geochemical or geophysical anomalies. Reconnaissance sampling of rock chips or geological mapping assesses the integrity of geological maps in the area.
We are conducting regional reconnaissance programs in the Cobar, Nymagee and Braidwood Districts, and are in an exciting phase of greenfield exploration following the intensive completion of Stage 5 resource delineation activities at the Federation and Great Cobar Projects.
In March, we contracted Xcalibur Multiphysics to perform a Falcon Survey of our landholding in the Cobar Basin.
Stage 2: Target definition
This stage involves testing the geophysical and/or geochemical anomalies identified in Stage 1. Broad geochemical soils sampling, lag sampling, bedrock auger drilling, and high resolution ground based geophysical surveys (such as Induced Polarisation, Gravity or magnetics surveys) are used during this stage.
We are conducting several projects to define targets in the Ironbark, Lancelot, Piney, Lyell and Vaucluse prospects in the Nymagee District. We are also reviewing results from the Falcon AGG survey to advance reconnaissance targets to ‘definition’ status in the Cobar District. Stage 1 activities and the planning of Stage 2 activities are underway in the Braidwood District.
Stage 3: Prospect testing
This stage involves targeted exploration methods to identify mineral occurrences. Finer spaced geochemical soils sampling and various drilling methods such as Aircore, Rotary Air Blast (RAB) or Reverse Circulation (RC) with the minor use of the Diamond Drilling method are used during this stage. This stage typically involves a mineral deposit discovery and instigates further delineation in Stage 4.
We have identified several areas in the Nymagee District that qualify for advancement of Stage 2 and Stage 3 activities in the Nymagee District, and are actively planning the next stage of exploration. Planning is also actively advanced for Stage 2 prospects in the Cobar and Braidwood Districts.
Stage 4: Advanced prospect testing
This stage involves the use of intensive drilling and high resolution geophysical surveys, such as downhole electrical methods, to gather sufficient geoscientific data to assess the viability of continuing to Stage 5.
We have progressed significant near mine exploration in the Cobar District at our Burrabungie, Queen Bee and Deep Whip prospects, and in the Braidwood District at Thompson’s, Copper Ridge and Spring Creek prospects.
Stage 5: Resource definition
This stage involves the continued extension of known mineralisation by diamond drilling or to a lesser degree, RC drilling, to develop a Mineral Resource. This stage is accompanied by numerous mineralogical and geochemical studies to assess if the mineralisation is suitable for metallurgical processing.
Our commitment to the conversion of prospects to development projects via Stage 5 exploration activities can be seen in the advancement of our Federation Project and Great Cobar Project.