Argonaut Resources NL (ASX: ARE) is set to kick off a major exploration programme at the Murdie Project in South Australia after its application under the Aboriginal Heritage Act 1988 (AHA) was approved by the South Australian Government.
This authorisation allows Argonaut to proceed with the exploration drilling programme around the western shoreline of Lake Torrens and Andamooka Island. The drilling programme will target iron oxide copper-gold (IOCG) copper mineralisation in the style of Olympic Dam, Carrapateena and BHP’s recent Oak Dam discovery.
Argonaut will mobilise geophysical contractors to the Carrapateena Well, Andamooka Island and Murdie Island areas on 11 January 2021 to acquire detailed gravity data for the finalisation of drill hole locations.
Gravity contractors will work dayshift and nightshift to complete the acquisition as quickly as practical under the authorisations. Specially modified tracked quad bikes that apply low ground-pressure will be used for the gravity survey to avoid salt crust disturbance.
Argonaut expects to announce the execution of a drilling contract early in the new year with drilling to commence soon afterwards. The track-mounted drilling rig will be capable of drilling cored holes to 1,500m. Drill holes are expected to be 500 to 1,000m in depth. Results of the gravity survey will determine the number of drill holes.
The drilling rig will sit on fit-for-purpose, heavy duty, interlocking mats to protect the salt crust. Vehicles will access the drilling rig via temporary tracks covered by ground protection mats.
Argonaut Resources holds two highly prospective South Australian exploration licences, EL5937 and EL5945. The licences are contiguous with the Company’s Torrens project in South Australia. The licence areas cover a confirmed IOCG target in an area known as Murdie as well as a second anomaly at West Lake Torrens. There are 54 known residual gravity targets within the area.
The licences cover an area of 1,015 square kilometres and are located immediately south and east of the Torrens project and east of the Carrapateena mine.