Australian Critical Minerals (ASX: ACM) has announced significant progress in its ongoing exploration efforts at the Shaw and Cooletha iron ore projects in Western Australia. Following recent fieldwork, the company has confirmed extensive Banded Iron Formation (BIF) and Channel Iron Deposit (CID) zones, reinforcing the Pilbara’s reputation as a prime region for iron ore discoveries. With this update, ACM is well-positioned to capitalise on increasing demand for critical minerals essential to modern industry and clean energy technologies.
Shaw Project: Two BIF Zones with Substantial Strike Length
At the Shaw Project, ACM has identified two distinct BIF zones, the Shaw Western and Shaw Eastern zones, which together span over 16 km in combined strike length. The Western Zone alone boasts over 7 km of mapped and interpreted BIF units, with widths exceeding 100 m in some areas. The Eastern Zone adds another 9 km of potential mineralisation, further underscoring the project’s scale.
The BIF lithologies at Shaw, characterised by linear and often sub-parallel formations, suggest a complex geological structure that ACM believes is an extension of the Cleaverville Formation. This formation is also associated with direct shipping ore (DSO) iron deposits, such as those at the nearby Abydos and Miralga Creek Mines, enhancing the significance of these findings.
Managing Director Dean de Largie commented, “We are delighted that the results from this latest program involving additional rock sampling at Shaw have validated the interpreted potential strike lengths and identified significant widths in excess of 100m. We’re now eagerly awaiting assay results to guide the next phase of exploration.”
Cooletha Project: CID Potential Across 2 km Strike
Meanwhile, at Cooletha, ACM’s exploration efforts are focused on Channel Iron Deposits (CIDs), which have also shown promise. The company has collected 189 rock chip samples across a 2 km strike length of CIDs, with results expected in November 2024. These samples will be crucial in reconstructing paleo-drainage systems, which could lead to new target areas concealed beneath surface sediments.
ACM’s exploration team has systematically mapped the region, completing a 20 m x 80 m grid sampling over a 300,000 square metre area. The CID zones, when confirmed, could offer high-grade iron ore potential, adding another layer to ACM’s expanding portfolio of critical minerals assets.
Next Steps: Awaiting Results and Further Exploration
The company has indicated that the results from the 221 rock chip samples collected across both projects will play a pivotal role in shaping future exploration. The assays, expected in November, will provide a clearer picture of the mineralisation potential and inform the design of a comprehensive follow-up sampling program.
For Shaw, the next phase of exploration will involve further reconnaissance work to convert the interpreted BIF units into mapped formations. The company is also in the early stages of planning drilling programs and assessing access at both Shaw and Cooletha.
ACM’s future work programs include:
- Reconnaissance rock chip sampling at Shaw’s Western and Eastern BIF zones.
- Paleo-drainage analysis at Cooletha, aiming to uncover more CID deposits.
- Drill program scoping, marking the transition from surface exploration to a deeper understanding of the project’s resources.
Strategic Positioning in the Pilbara
ACM’s holdings in the Pilbara region, totalling over 403 km² across both projects, place the company in a strategic position as iron ore and other battery metals become increasingly important for global supply chains. As the world transitions to a clean energy future, iron ore remains a critical material for steel production, while battery metals, including lithium and rare earth elements, are essential for technologies ranging from electric vehicles to renewable energy storage systems.
De Largie summed up ACM’s strategic outlook: “With iron ore and critical minerals central to the clean energy transition, we believe ACM’s projects in the Pilbara are well-timed to meet this demand. Our experienced management team is committed to unlocking the value of these assets, ensuring we remain a pivotal player in the minerals sector.”
As the company eagerly awaits its assay results, the market will be watching closely. If ACM’s exploration programs continue to deliver, the company could be on the cusp of a significant discovery, reinforcing its potential as a major player in Australia’s critical minerals landscape.
