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Argonaut Resources to begin drilling IOCG targets at Murdie next week

The company has mobilised a drilling rig at the project site and the drilling crew is testing environmental protection equipment, undergoing training for specialist equipment and receiving site inductions.

Argonaut Resources NL - Argonaut Resources to begin drilling IOCG targets at Murdie next week
The Sandvik DE740 diamond drilling rig mobilising to the Murdie project in South Australia this week.

Argonaut Resources NL (ASX:ARE) will start drilling next week at the Murdie project in South Australia targeting iron oxide copper-gold (IOCG) mineralisation defined by large gravity anomalies

The company is mobilising equipment at the project site. including arrival of the truck-mounted drilling rig.

This involves 20 semi-trailers delivering drilling equipment, accommodation units, ground protection matting and ancillary vehicles.

The vehicles arrived at Woomera on March 9 and 10, 2021, and unloaded on March 11.

Drilling activities

The drilling crew is testing environmental protection equipment, undergoing training for specialist equipment and receiving site inductions in preparation for the start of drilling at the first drill site.

This site is near the edge of Lake Torrens at the target labelled Smith Dam and the company expects drilling will be underway early in the week starting March 15, 2021.

Argonaut has established a camp at Bosworth Homestead that will be the base for staff and contractors working on the drilling program with 16 people currently on-site for the set-up process.

In the longer-term, the company expects to have a total of 12 staff and contractors on-site at any particular time.

Murdie targets

The Murdie exploration licences cover two large-scale, regional gravity anomalies – West Lake Torrens and Murdie.

These represent locations with significant volumes of high-density rock that may contain economic IOCG deposits.

Efforts are focused on West Lake Torrens anomaly where seven strong drilling targets have been identified near the shoreline of Lake Torrens.

Lake Torrens exploration licences.

Gravity anomalies

A volume of high-density rock causes higher gravitational pull at the surface which manifests as a gravity anomaly.

Mineral explorers can use gravity surveys as a means to define gravity anomalies and potentially discover dense ore bodies.

IOCG ore bodies contain high concentrations of iron and copper minerals making them particularly dense.

‘Bouguer’ anomaly

West Lake Torrens anomaly is a regional gravity anomaly and this type of anomaly is typically displayed as a ‘bouguer’ gravity anomaly.

The peak of the West Lake Torrens bouguer anomaly is 7 milligals above background levels.

Initial drilling by Argonaut will target ‘residual’ gravity anomalies within the wider West Lake Torrens anomaly.

These residual gravity targets are 0.85 to 1.15 milligals above the regional gravity anomaly.

Murdie project

Argonaut holds two prospective South Australian exploration licences, EL5937 and EL5945, covering 1,015 square kilometres and contiguous with the company’s Torrens project.

They cover a confirmed IOCG target in an area known as Murdie as well as a second anomaly at West Lake Torrens.

Argonaut says there are 54 known residual gravity targets within the area.

The licences are immediately south and east of the Torrens project and east of the Carrapateena mine.

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