Victoria

Victoria

Exploration Activity

Exploration Licence EL5415 was granted to Copper Strike by the Victorian Department of Primary Industries early in 2012. Copper Strike applied for the ground because of high zircon values in past mineral sands drilling by Aberfoyle in the 1980’s which had identified extensive heavy mineral sands accumulations in paleo-beaches and paleo-dune systems.

Figure 1. shows part of the Exploration Licence where the previous drilling took place. The larger coloured circles show where the best mineralisation was intersected. Interesting grades and thicknesses of heavy minerals (HM) were drilled on Lines CM01, CM02, KS00, KK60, KS04, KS05, KS06 and KS09.

In addition, the area along the strike length of KK50, KK60, KK67 and KS21 is very interesting because of the high zircon content (often >15% of the heavy mineral concentrate) encountered on these lines. The highest zircon content of all (18.3% zircon) was achieved on drill line KK50. The assemblages of the HM concentrate on various lines are shown diagrammatically in Figure 3.

Figure 1: Northern part of EL5415 with the heavy mineral (HM) accumulations in old beach and dune systems identified by Aberfoyle’s drill lines from the 1980’s. Best drill lines appear to be KK50/51, CM01/02 and around KS04/05/06/09.

Figure 2:  Mineral assemblages from the Aberfoyle drilling on EL5415. The economic heavy minerals (zircon, rutile, leucoxene and ilmenite) average 75.1% of the HM assemblage with zircon, which ranges from 8.5% to 18.3% of the HM, averaging 14.3%. Rutile is low, generally <5%.

Figure 3 shows one of the better sections, KS06, from the Aberfoyle drilling. The zone is up to 18m thick and is over 700m wide on this section. The grade is consistently over 1% HM and has some continuous zones of >3% material. The strike length, based on the current drill coverage and interpretation, is about 20km.

Figure 3: Cross section for Line KS06 showing the heavy mineral concentrations in the  eight drill holes on the line. Mineralisation ranges up to 18m thick and is at  least 700m wide on this line. Some thick areas have moderate grade and good continuity. This zone shows strike continuity of about 20km in the licence area.

Potential for large tonnage, zircon-rich, heavy mineral sands, exists on EL5415 and can be assessed quickly with a short drill programme which is budgeted to cost approximately $70,000. Target areas will be in the zone from CM02 to KS06 and in the underexplored zircon-rich trend from KK50 to KS21 which stretches for at least 30km.

The information in this report as it relates to geology, geochemical, geophysical and exploration results was compiled by Mr. Tom Eadie,  FAusIMM, who is a Competent Person and Managing Director of Copper Strike. Mr. Eadie has more than 20 years of experience in the activities being reported on and consents to the inclusion of this information in the form and context in which it appears in this report.

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