Resolution Minerals’ (ASX: RML) exploration model review of the Spur South gold-copper project area in New South Wales has found it to be prospective for porphyry-skarn mineralisation.
The review included both regional and local geological perspectives, using publicly available information from the NSW Geological Survey online database.
It concluded that Spur South is prospective for large-scale gold and copper mineralisation along the Ordovician Molong Volcanic Belt, which sits within the Lachlan Transverse Zone.
Magnetic anomaly
Magnetic imagery from the database showed a discrete, elongated magnetic high anomaly approximately 3.25 kilometres in length within the project area.
Resolution believes this anomaly parallels a faulted contact between the Fairbridge Volcanics (porphyritic basalt and associated volcaniclastics) and Millambri Formation (volcaniclastic sandstones and siltstones).
The company also understands that the prevalence of regional-scale magnetism is consistent with known mineral deposits in the area.
Favourable geology
Resolution executive director Aharon Zaetz welcomed the review findings as a step in the right direction for the development of Spur South.
“The identification of a discrete magnetic target that possesses the local geology favourable for porphyry and skarn-related gold and copper mineralisation is very positive,” he said.
“Notwithstanding the requirement to better define the target, the anomaly constitutes a high-priority drill target for us.”
Proposed exploration would include the reprocessing and re-modelling of existing geophysical data, field reconnaissance mapping and sampling, targeted close-spaced ground and drone magnetic surveys, along with reconnaissance drilling.
Mr Zaetz said the company had sufficient funds available to conduct further exploration at Spur South.
Drake East land access
Resolution is at the same time progressing land access for the newly acquired Drake East project in NSW, which hosts high-grade antimony, gold and silver mineralisation and extensive LiDAR (light detection and ranging)-interpreted workings associated with alluvial gold.
The company’s tenement managers are advancing title searches for non-ground-disturbing work programs, with the proposed field work to include mapping and sampling of the gold-antimony veins in Drake East’s south-western section.
Resolution acquired Drake East in March through a deal with private explorer Devil Prospecting, along with Spur South and the Neardie antimony project in Queensland.
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