RE: Risers board18 May 2022 08:05
Morning
To help answer your questions PP
The geochemical surface sampling programme used Ionic LeachTM, a technique using partial digest assaying by ALS Global Laboratories. This has been used very successfully by several companies in the Patersons Range, with overlying sedimentary cover, to identify potential gold and copper mineralisation at depth. The swale, the area between sand dunes, is geochemically sampled as part of the regolith, whereas sand dunes are not representative of the regolith and are not geochemically sampled. In areas where sand dunes are closer this can cause reduced sampling, as has occurred over the main magnetic geophysical target.
The Telfer Mine Corridor is characterised by responses in Au, Cu, Ag, Sn & W +/- Bi. Geochemical sampling programmes by several companies in the Patersons region have announced positive results and anomalies that are consistent with those being reported at the Red Setter Project.
At the Red Setter Project, through 30 -100 metres of Permian cover, the Ionic geochemistry is seeing coherent multi-sample responses in Au (Figure 3), Cu (Figure 4), Ag, Mo, Sn, W & Tl, plus other chalcophile elements. The AAC Index plot (Figure 2) has been found to be effective worldwide in defining prospective zones; it is an exploration Index developed based on empirical evidence of Au, As and Cu being inherent constituents of Archean mineralised shear zone systems.
These responses variably overlap, both partially forming distinct target trends within the overall target zone areas, as seen in Figures 2 - 4.
The 4 main target zones (Figures 2 - 5) are elevated in the below elements:
Target Zone 1: Au, Cu, W, Sn, Mo, Tl
Target Zone 2: Au, Cu, Ag, W, Sn
Target Zone 3: Au, Cu, Mo
Target Zone 4: Au, Cu, Ag, W, Mo
The highest priority magnetic bodies within Red Setter (Referred to as Targets A, B and C in Figure 1) cover an expanded area of 3.5 km in strike length and 1 km in width. The highest order Target A occurs over a strike length of 1500m with a width of 400m and occurs within 50-75m of surface. Results of this modelling shows several north plunging magnetic bodies within this anomaly of equivalent susceptibility (possibly pyrrhotite alteration) to that evident at both Newcrest Mining and Greatland Gold's Havieron and RioTinto's Winu discoveries.
"We see the potential for Cottesloe to host both precious metals and base metals based on historic exploration work. As Cottesloe is very close to Red Setter, the Company's exploration consultants Terra Search will run Cottesloe's exploration concurrently with our work at Red Setter and service the exploration efforts from the Telfer based camp."
Gold and copper and other precious metals in the soil samples in all targets at Red setter - similar geology to Telfer Havieron and Winu - the same geologists in Terra search
Wishbone 2 and red setter will be drilled concurrently - I’m expecting Red setter to start next week - t