cr157063

LOCATION
The Diamantina Project is in northwest Queensland and about 300km south of the mining town of Mt Isa. The nearest town to the project area is Boulia which is well connected by sealed road from Mt Isa.
GEOLOGY
The Diamantina Project lies south of the outcropping Proterozoic-aged Mount Isa Inlier. Regional Aeromagnetics and gravity data shows the Proterozoic sequences continue under more recent cover rocks south of the Inlier and underlie the Diamantina Project area. The Mt Isa Inlier is comprised of three tectonic subdivisions with the extension underlying the Diamantina Project interpreted as belonging to the Eastern Succession.
WORK COMPLETED
Exploration activities conducted by AAEA during the reporting period included:
Geological and Structural Study
Reprocessing of Seismic line section
CONCLUSIONS
The depth to basement modelling has indicated that the average basement depths for Diamantina Project area varies from approximately 350m to greater than 1000 m.
The existing regional datasets, mainly Magnetics, Gravity, Seismic etc, played a very important part in developing geological and structural models for the project area. The geological and structural interpretation based on geophysical datasets indicates extension of Eastern Succession lithologies within the Project Area increasing prospectivity of the area for IOCG and BHT style mineral systems.
EPM28082 forms part of the 22 tenements that Anglo American Exploration (Australia) Pty Ltd holds, EPM27133, 27134, 27135, 27136, 27137, 27138, 27139, 27140, 27141, 27142, 27143, 27438, 27986, 27987, 28077, 28079, 28080, 28082, 28084, 28078, 28081 and 28083 as part of its Diamantina Project targeting Iron Oxide Copper Gold and BHT systems in the region. The concept and targeting methodology are similar across all 22 tenements which form part of Diamantina Project.
Airborne Gravity Gradiometry survey was conducted covering EPM27140, EPM27141, EPM27142, EPM27143, EPM27438, EPM28078, EPM27133, EPM27134, EPM27135, EPM27136, EPM27137, EPM27138 and EPM27139. The anomalies identified from regional gravity survey were followed up with ground exploration programs.
Drilling for the Diamantina Project was undertaken on EPM27134, EPM27135, EPM27136 and EPM28077 targeting IOCG mineralisation in the project area. No drilling was undertaken on EPM28082. Based on the unfavourable results from exploration activities on EPM28082 it was decided to totally surrender the tenement area.