Strategic Energy Resources has taken the first steps towards identifying a new IOCG exploration opportunity at its Mundi project near Broken Hill. Pic via Getty Images
Mining
Special Report: Strategic Energy Resources has taken the first steps towards identifying a new IOCG exploration opportunity at its Mundi project near Broken Hill, New South Wales.
Modelling from a recent magnetotelluric survey over the Mundi project area is set to provide Strategic Energy Resources (ASX: SER) with multiple targets for drilling over the next 12 months.
Described as a conceptual greenfields project spanning more than 1,300km2, Mundi is located 115km north-northwest of Broken Hill and within the Curnamona Province which is known to host IOCG mineralisation.
Mundi has no known basement outcrop and very limited previous exploration.
Magnetotelluric conductivity anomalies at Mundi are thought to be associated with IOCG mineralisation over the border in South Australia’s Gawler Craton.
The recent 95-station magnetotelluric survey cover the shallowest portion of the interpreted Curnamona Conductor anomaly. The exercise was partially funded by a $50,000 grant from the fifth round of the NSW Government’s Frontiers Exploration Program.
Advanced modelling of the magnetotelluric data was conducted by Professor Graham Heinson from the Electric Earth Imaging Group at the University of Adelaide. Data from the survey was compared to the 125km long Curnamona Crustal Magnetotelluric Transect which is what attracted SER to the Mundi project in the first instances.
Modelling showed the shallow conductive features detected in the survey were “clearly linked” to the crustal-scale Curnamona Conductor and closely resemble the conductivity signatures of IOCG mineralisation in the Gawler Craton, home to the “supergiant” Olympic Dam deposit.
SER managing director David DeTata said the survey results had “exceeded our expectations”.
“The identification of an intensely conductive anomaly at explorable depths within Proterozoic rocks confirms our belief that the project represents a convincing new IOCG exploration opportunity,” he said.
“With further geophysical work now planned for early 2024, SER expects to define a target or multiple targets for follow-up drill testing within the next 12 months.”
The survey also indicated the intense conductive anomaly remains open to the south. This finding correlates with the results of a recently released independent regional-scale resistivity model of the Curnamona Province which highlighted a strong mid-crustal conductivity anomaly extending south and south-east of SER’s existing licences to a depth of 5km.
Prior to the completion of the survey, SER lodged an additional exploration licence which it believes captures the southern extension of the shallow conductivity anomaly already detected. The company said it also provides an opportunity to explore for potential shallow anomalies associated with the broad anomaly at 5km depth.
SER plans to undertake a follow-up magnetotelluric survey to infill and extend its recent coverage, along with a gravity survey, to improve its understanding of the basement geology and the extent, geometry and nature of a potential IOCG mineral systems.
Multiple drill targets are expected to be accumulated and tested within the next 12 months.
Wanting more SER? Hear from DeTata in this episode of the Explorers Podcast with host Barry FitzGerald.
This article was developed in collaboration with Strategic Energy Resources, 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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