The anomalous niobium is set for testing with two diamond holes. Pic: Getty Images
OzAurum spreads Salitre niobium anomaly for diamond drilling
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- OzAurum validates discovery with more widespread niobium extending over a square kilometre
- Pathfinder geochemistry reinforces niobium carbonatite exploration
- OZM-owned diamond rig on standby for drilling
Special Report: OzAurum has validated a recent niobium discovery with more wide-spanning anomalous soil results now extending over a square kilometre of its fully owned Salitre Project in Brazil.
After initial exploration returned a niobium anomaly extending for over a kilometre with a cluster of co-incident UV anomalies, the follow up has now made it square with new peak values of 271 parts per million niobium in soils and 979ppm total rare earth oxide.
The results came from an area containing nine ultraviolet anomalies which form a cluster with coincident gamma radiation of up to 435 counts a second, a figure going up to 10 times beyond the background readings.
The pathfinder geochemistry backs an exploration model for prized niobium carbonatite intrusions, with anomalous high field strength soil results also including tantalum, hafnium, and thorium over an area almost identical to the niobium anomaly.
OzAurum (ASX:OZM) CEO and managing director Andrew Pumphrey said the company was excited to confirm an initial discovery which has now been extended over a square kilometre.
“The OZM Salitre and Catalao projects are situated within the Alto Paranaba Magmatic Province that accounts for 97% of worldwide niobium production, all hosted in carbonatite intrusions,” Pumphrey said.
“I can’t wait to see our diamond drill rig testing this anomaly and the exploration opportunity that this project presents to OZM shareholders.”
OZM believes the new data might indicate a carbonatite intrusion related mineralisation as the anomaly’s source, a theory set to be tested with two diamond drill holes in the coming weeks.
The company has its own diamond rig and a crew to man it on standby, and now just awaits the all-clear for environmental permitting and access.
Nation of niobium
Brazil accounts for almost all the world’s niobium production, and the entirety of its 97pc share comes from within the prolific carbonatite intrusions of the Alto Paranaba Magmatic Province.
And while Australia could soon nab a stake with WA1 Resources (ASX:WA1) in the remote West Arunta, OzAurum opted to get its boots worn exploring for new resources near the world’s most eminent niobium mine.
OZM fully acquired the Catalao and Salitre Niobium and REE Projects a skip away from world-leading Araxa and its 80pc share of global production, and commissioned image processing expert Dr Neil Pendock to do a hyperspectral interpretation over its territory.
Dr Pendock spotted around 100 targets for OZM to ground truth, and its niobium sampling campaign has now proven enough of a taste to look toward a deep diamond campaign for the prized steelmaking reagent.
Listen to OZM’s Andrew Pumphrey go deeper into the company’s niobium play on this episode of The Explorers Podcast with Barry FitzGerald.
This article was developed in collaboration with OzAurum, 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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