Argonaut Resources NL (ASX:ARE) has executed a drilling contract for an initial 3,750 metres of diamond drilling at its Murdie Copper Project in South Australia, which involves drilling five holes to an average depth of 750 metres.
The drilling program 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 also proceed with a major exploration drilling program around the western shoreline of Lake Torrens and Andamooka Island.
The Murdie exploration licence covers two largescale, regional gravity anomalies – Murdie and West Lake Torrens.
These anomalies represent locations with significant volumes of high-density rock that could contain economic IOCG deposits.
Drilling will target specific ‘residual gravity anomalies’, which are volumes of rock with a particularly high density that can be found within broader, regional anomalies.
Details of residual gravity anomalies in the area of Carrapateena Well will be released once final processing and modelling have been completed.
Drilling Equipment and Mobilisation
The track-mounted Sandvik DE740 drilling rig is capable of drilling cored holes to 1,800 metres and the contractor is currently sourcing the specialist equipment required for drilling in an environmentally sensitive location and mobilisation to the site is expected to occur in late February 2021.
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.
Ground Gravity Survey
Argonaut’s geophysical crews are conducting a detailed ground gravity survey over selected areas to improve the accuracy of drill-target modelling.
To date more than 7,000 gravity stations have been surveyed including over the area of several confirmed drilling targets and a further 1,800 gravity stations will be surveyed in the coming weeks.
The company is pleased with both the results of the survey and the resolution of the data.
South Australia Argonaut Resources holds two highly prospective South Australian exploration licences, EL5937 and EL5945 and they are contiguous with the company’s Torrens project in South Australia.
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, and it covers 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.