The aim of the MLEM survey was to constrain conductive zones for drill testing. Pic: via Getty Images.
Mining
A Moving Loop Electro-Magnetic geophysical survey has identified 3 bedrock conductors – indicative of massive sulphide accumulations — at IZ5, a key prospect within BPM Minerals’ Santy gold and base metals project in WA.
The project is in the Tallering greenstone belt, considered prospective for mesothermal gold and Volcanogenic Hosted Massive Sulphide (VHMS) base-metal mineralisation.
The prospectivity of the IZ5/Santy Well prospect for gold and VHMS style precious and base metal mineralisation was highlighted when RC drilling in late 2022 returned 1m at 0.89g/t gold, 90.3ppm silver, 2.03% copper and 0.19% lead+zinc (66-67m) from drill hole SRC006.
The aim of this MLEM survey was to constrain zones of conductivity for drill testing – two of which were flagged during an induced polarisation survey back in July.
The company says the conductors identified are indicative of massive sulphide accumulations containing precious and base metals.
“VHMS deposits are known to contain some of the richest sources of precious and base metal mineralisation,” CEO Oliver Judd told Stockhead.
“They are notoriously difficult to find and usually found by luck, so for us to delineate three bedrock conductors from the recently completed MLEM survey is a great outcome considering the previous high grade precious and polymetallic intercept at the prospect.”
The MLEM survey has now successfully constrained the two conductive zones in 3D, as well as identifying a further conductor, all of which can now be targeted for drill testing.
Notably, the RC drilling intercept from 2022 is spatially associated with the conductor ‘Con C’ which is modelled below the current drill holes at a depth of ~100m and is relatively flat lying.
Conductor ‘Con A’ is approximately 400m in length, dips moderately to the west and is also located ~100m below the surface.
Both Conductors A and C are interpreted to represent massive sulphide accumulations within the volcano-sedimentary sequence.
Conductor ‘Con B’ is approximately 250m below the surface, is sub-vertically dipping, ~270m in length and 450 siemens.
The conductor is spatially associated with the interpreted sheared margin of the felsic porphyry, either representing remobilised sulphides or sulphides associated with the mesothermal gold system.
Because the IZ5 prospect is mostly under alluvial cover, historical exploration programs have focussed around the areas of limited outcrop with historical rock chipping returning highly encouraging assay values >100g/t gold in addition to highly anomalous silver, coper, lead, zinc and tungsten.
BPM’s strategy is to explore under the surrounding cover by utilising multi-element regolith drilling and geophysical techniques to highlight prospective areas for deeper drill testing.
Drill testing the conductors is currently being considered for later in the year.
This article was developed in collaboration with BPM Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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