The company has designed induced polarisation (IP) geophysical surveys to detect potential zones of disseminated sulphides and engaged contractors.
Sulphides can be associated with large deposits of nickel, copper, platinum group elements and gold.
Strategic managing director Charles Murphy said: “Whether the cause of the magnetic rings are from rocks intruding up from below or as some experts believe from the impact of a meteorite coming down from above, the gravity anomalies have assisted us to generate target zones for nickel-copper-gold sulphide mineralisation.
“We know true greenfield exploration such as this has very high risks, but the rewards for discovering a large base metal-rich sulphide deposit – for examples Sirius Resources or Sandfire Resources – are also very, very high.”
Historical gold soil anomalies over magnetic image of Ilkurlka
The land-based gravity surveys were undertaken by Atlas Geophysics and 3D inversion modelling by Southern Geoscience, identifying substantial gravity anomalism and structural zones.
At Ilkurlka, Strategic defined a previously unidentified dense body of material buried within the roughly 15-kilometre diameter ring structure.
Results from Lennis indicated eleven potential igneous intrusions or alteration zones and eight potential structural targets within the roughly 20-kilometre diameter ring structure.
Experts are divided on whether the multi-ringed magnetic features are caused by the impact of a meteorite, by an igneous intrusion, or a mineral alteration system.
Gravity anomalies are common to many of these models and examples of world-class mineral deposits exist.
Multi-ringed meteorite impact structures are well-recognised overseas to be associated with significant mineral resources.
Well-known examples are the Witwatersrand basin – which has produced about 40% of all gold mined on earth – and the world-class nickel-copper-PGE sulphide deposits in mafic-ultramafic intrusions of the large Sudbury impact structure.
Numerous other deposits such as Carswell uranium, Ternovka iron ore-uranium are also linked to impact structures.
Geoscience Australia interpreted multiple deep intrusions of the Albany Fraser Orogeny in the area around both magnetic-ring-feature projects.
Albany Fraser mafic-ultramafic intrusions are well known to the market from Sirius Resources’ Nova nickel-copper-cobalt deposit which was discovered by high-risk greenfield exploration.
Sirius Resources was sold for $1.8 billion.