GCX Metals expects to start targeted drilling in early 2024. Pic via Getty Images
Mining
Special Report: GCX Metals has added a plethora of exploration targets to its Dante project after independent reviews of historical data identified multiple electromagnetic anomalies.
The Dante project in WA’s highly prospective West Musgrave region shares the same geological complex as Nebo-Babel, a mine tipped to deliver 28,000tpa nickel and 35,000tpa copper over a 24-year mine life for owner BHP (ASX: BHP).
Besides several large-scale nickel-copper-PGE targets, as well as extensive PGE-gold reef targets defined by previous exploration, GCX Metals (ASX:GCX) has also identified near-surface targets across 23km of strike following a review of historical drilling.
Six shallow holes were found to have intersected strong platinum, palladium, gold and copper anomalism from surface and within the hanging wall, though they did not intersect the down-dip extensions of the target basal reef layer.
The company also identified structurally thickened zones where historical systematic rock chip sampling returned average grades of 1.36 grams per tonne (g/t) PGE over a 70m wide outcrop at the Oceanus 3D prospect, 1.03g/t PGE over 50m wide outcrop at Hyperion 1C, and 1.16g/t PGE3 over a 30m wide reef outcrop at Hyperion 1A prospect.
Independent reviews of historical Spectrum and Geotem airborne electromagnetic (EM) data has identified multiple untested late-time priority AEM anomalies, anomaly clusters and anomaly corridors in the Giles Complex, one of the world’s largest layered mafic-ultramafic complexes.
Most of these anomalies remain untested, with little to no follow-up, while some anomalies have had ground EM completed and are partially tested or have had historical drilling conducted nearby. These intercepted nickel and copper sulphide along with anomalous PGEs, gold and cobalt.
Several anomalies are also associated with strong surface auger geochemical anomalism.
Adding further interest, independent reviews of historical ground moving loop EM (MLEM) and fixed loop EM (FLEM) surveys have also identified multiple anomalies.
GCX has also completed a new high-resolution airborne magnetics survey – the largest of its kind completed in the region – that has already highlighted several key features for follow-up.
“The detailed review of electromagnetic datasets at the Dante project has shown its remarkable potential. Most targets remain untested, with limited testing returning encouraging signs of nickel, copper, platinum group elements, gold and cobalt mineralisation,” GCX managing director Thomas Line said.
“The new high-resolution airborne magnetic dataset is the largest of its kind in the region, with the potential to aid in our process of unlocking hidden value in this frontier province.
“We have lots of work to do in following up on a wide range of high priority AEM and ground EM targets. Our technical team is confident that continued systematic exploration will yield additional targets to add to the pipeline of strong targets already defined.
“We will continue our systematic approach to target definition at the Dante Project, including investing in the collection of new, modern datasets.”
GCX is planning to carry out a new high-powered airborne EM survey over areas of interest.
This is considered to be superior for identifying bedrock conductors due to increased penetration depth, higher signal-to-noise ratio, and improved resolution compared to lower power historical AEM techniques.
Line says he expects the company plans to carry out targeted drilling in early 2024.
This article was developed in collaboration with GCX Metals, 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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