A mining exploration company is planning to drill 10 to 15 exploration holes in the vicinity of the old Kohinoor gold mine and Grainger zinc mine sites as soon as July.
Mining company Auroch Minerals says it will commence drilling on Kangaroo Island after getting positive results from reinterpretation of historical geophysical data for the Bonaventura Base-metals Project.
CEO designate Adian Platel said approvals were being sought for the drill sites, that together would drill down a total of 2000 metres, but he did not anticipate any problems given the drill pads would mainly be in open paddocks. Some additional ground geophysics also needed to be completed.
Mr Platel said the company initially became interested after geophysical data looked positive for base metals including zinc, lead and copper, but precious metals gold and silver could also exist in the deposit.
Regarding any potential mining, while it was far too early to tell, this kind of narrow-band deposit would more likely lend itself underground mining, he said.
Whether the ore would be processed on the island or shipped to the mainland also depended on a range of factors, including how Auroch’s other mainland explorations proceeded, he said.
Mr Platel said the only other active mining exploration licence on KI belonged to Lithium Australia, who was looking for lithium deposits on the eastern end of the Island in the vicinity of the old Dudley Mine on the eastern end of KI.
Auroch Minerals’ Bonaventura project is located on the regional-scale Cygnet Snelling Fault on the north coast of KI, along trend from existing large base-metal deposits such as the Angas Zinc deposit and the Kanmantoo Copper deposit.
The company released a statement at the Australian Stock Exchange announcing its intentions.
“The 17 exploration target areas identified from the reinterpretation of the historical geophysical data is a confirmation of the exciting potential of the Bonaventura Project for both base-metal and precious-metal mineralisation,” Auroch executive chairman Glenn Whiddon commented.
“The planned IP (induced polarization) survey will provide us with further detailed structural and lithological information that will be an integral part of defining targets for our maiden drill program.
“In conjunction with this, the access and permitting processes are well-advanced and the company remains on-schedule with its aggressive exploration program to systematically evaluate multiple target areas at the Bonaventura Project during Q3 2018.”
The ASX statement continues; The lithological and structural interpretation was dominated by the regional-scale Cygnet-Snelling Fault, a large complex shear zone running east-west through the project area and demonstrating thrusting towards the northwest.
Historically, several zinc, lead, copper, silver and gold deposits have been recognised along the shear zone, including the artisanal Grainger Zinc Mine and Kohinoor Gold Mine.
Rock-chip samples taken by the Company from the Grainger Target returned very high-grade assays of up to 28 per cent zinc with significant lead, copper and silver grades, whilst samples of the mineralised veins observed at the Kohinoor Target were as high as 33.3 g/t.
Auroch Minerals is an Australian based company with a targeted focus on the commodities involved in the Global Renewable Energy markets. It is the company’s intention to build a portfolio of quality assets with the specific focus on primary inputs crucial for the renewable energy industry, with a key focus on cobalt and lithium, both used in the production of Li ion batteries and copper.