The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think if the Scallywag drilling results by Greatland were poor an announcement would have been made by now with what follow up work they were going to do. It is possible that some spectacular results have been achieved and a joint venture agreement will be announced by Newcrest tonight UK time. Because Scallywag is shallow (~ 50-100m) compared to Havieron (>400m) drilling costs will be less so I would think $50 million of drilling costs etc for a controlling interest of 51%. Greatland can then move on swiftly to Paterson North prospects
An important aspect of Scallywag is that it is a relatively shallow target. In places, it is only 50m to Proterozoic basement where copper-gold mineralisation is found in the Paterson. This compares to Havieron where basement and mineralisation occurs at 400m. Imagine if a deposit similar to Havieron is found at the Kraken and extends around to the other anomalies. We could be looking at a future Scallywag Superpit!
Artemis chat site on HotCopper:
https://hotcopper.com.au/asx/arv/
On HotCopper you will also find the news about Greatland Golds joint venture results at Havieron on the Newcrest page. Results this Wednesday evening at about 9.30 pm !
Hi Jiffyy, The analysis of mobile metal ions (MMI) gives an indication of anomalies above background levels for the region. Anomales are seen for gold and copper indicating there is something down there but the relative amounts of gold and copper in the ore body might be different. It depends on how the MMI s were transported to the surface. Arsenic is used as a pathfinder element for gold as the arsenic mineral Arsenopyrite is often found with gold. The anomalous arsenic would therefore indicate to be that there could be significant gold down there as well as copper. As for Palladium and other Platinum group elements, these are usually only found in abundance within layered intrusions where the intrusion is a low silica rock called gabbro. An example is the Merensky Reef in the Bushveld intrusion in South Africa. The Copper-Gold deposits like Havieron are associated hydrothermal fluids that have come from more silica-rich granitic rocks
Plappers. There is only one Gold Worm. Bamps21. There are probably multiple intrusions producing gold and copper mineralisation in the region. The emplacement of the intrusions is structurally consoled as are the fluids coming off them. Im sure there will be another Havieron out there.
The Telfer event could be related to a similar type of granite but the structural trap at Telfer appears to be in Carbonaceous siltstones and Havieron is in much more carbonate-rich lithologies of the Punta Punta Formation. The later were probably much more reactive with fluids coming off the granites producing higher grade gold and copper rich skarn-like mineralisation and massive accumulation of sulphides. I think Greatland geologists have in the past realised the correct model and have pegged all the best ground for future exploration.
Hydrogen, The copper gold deposits in New South Wales are associated with granites but not normal granites. They tend to be lower in silica, high in potassium which is called a monzonite. These intrusives are also magnetic. The discovery at Temora in the early 1980,s led to intensive exploration for similar deposits in Central New South wales which resulted in Cadia being discovered as well as other deposits. Havieron will do the same in the Paterson I believe with numerous other discoveries over the next 10 to 20 years.
The model for "granite" related mineral deposits in the Paterson was outlined over 10 years ago by Geoscience Australia. Here is the paper:
https://www.researchgate.net/publication/280312587_Geological_and_energy_implications_of_the_Paterson_Province_airborne_electromagnetic_AEM_survey_Western_Australia
Look at page 201 and Figure 6.25. The Havieron deposit I believe is a results of of hydrothermal fluids coming off a specific granite type, which I believe will be monzonitic and magnetic, and the fluids were trapped in an anticlinal structure at the boundary between the Wiki Quartzite and the Punta Punta limestone formation. The quartzite acted as an impermeable trap and the fluids rich in sulphur, gold and copper reacted with the limestone forming the mineral deposit. Hope that makes sense?
No problem Redirons. I started working on gold-rich copper deposits back in 1986 on a deposit called Gidginbung near Temora in New South Wales. They were using the rock there for road metal before someone realised it contained gold and copper!
Perfectly correct. The high grade massive sulphide arcuate zone could be regarded as both a copper and gold deposit and will pay for all the costs of mine development and much more. The largest volume of Havieron, the breccia zone, is relatively low in gold but has a high resource of copper. The gold will pay for all costs of mining of the breccia zone and the copper will be all profit so will be regarded as a copper mine. The wonderful thing about Proterozoic (600 to 2500 millions years old) gold deposits, like Olympic Dam, are that they are high in Copper unlike Archeaen (> 2500 million year old) gold deposits which are termed gold only. Copper and gold values tend to go in opposite directions in the economic cycle so if you have both in your mineral deposit you are laughing. The great thing with Havieron development is that we appear to be going into an unusual cycle where both gold and copper values are going to be high. A dream situation for us investors
Gold mineralisation in the Paterson seems to be localised along the hinge zone of anticlinal structures. On regional geophysics there is an anticline intersecting the Havieron Fault close to Havieron. The Artemis ground lies along this hinge zone so could be part of the same system.
The Kraken has all the same geophysical characteristics, surface geochemical anomalies and same structural setting (hinge zone of anticline) as Havieron. Probably less than 100 m depth compared to 400m at Havieron. Beware the Kraken - it will be a monster!
Hi Hopefully Gold, The magnetic signature over Havieron could be due to several things. Pyrrhotite (FeS), sometimes called magnetic pyrite, is associated with the Copper-Gold mineralisation, although it is only weakly magnetic. The mafic dyke in the deposit could be magnetic and there could be some magnetite in the alteration assemblage. There might also be a magnetic granite at depth which could be the source of the copper and gold. These are all magnetic relative to the surrounding non-magnetic sediments giving the magnetic high on aeromagnetics.
It makes you wonder what is causing the magnetic bulls eye anomalies such as Goliath and Havieron. It could be the sulphide ore (probably pyrrotite), magnetite in the alteration , mafic intrusions as at Havieron or a magnetic granite cupola at depth. My guess is they will do an IP survey on Goliath before drilling to see if there are any potential sulphides there. The priority for drilling will be Scallywag where there are coincident magnetic, geochemical and IP anomalies just like Havieron. Kraken is the main one - named after a legendary sea monster and will turn out to be a monster gold deposit