PROJECT BACKGROUND
The Youanmi Base Metals Project is located 600km north-northeast of Perth (Figure 1). The tenements (E57/986 & 1019) hosting the VMS Trend are situated 15 km southwest of the Youanmi Gold Mine and processing plant. The Youanmi region is well serviced by significant infrastructure associated with historical and ongoing mining operations in the region, including those at Windimurra & Sandstone.
Figure 1 – Location Map
Volcanogenic Massive Sulphide (VMS) mineralisation on the Pincher Dome VMS trend has been identified over an area of more than 5 km of strike, associated with volcanoclastic stratigraphy. Historical drilling by WMC, Newmont & BHP at North Dome has outlined a potential exploration target in the order of:15-25 Million Tonnes @ 2-8% Zinc and 3-4 gpt Silver* Including high-grade lodes grading >10% Zinc with associated Copper & Silver * (refer ASX release 28 October 2016)
*This target has the potential to be significantly upgraded by infill, extensional and deeper drilling of the North Dome, as well as systematic drilling of the prospect areas within the target stratigraphy.
Exploration Targets: The term ‘Exploration Target’ should not be misunderstood or misconstrued as an estimate of Mineral Resources and Reserves as defined by the JORC Code (2012), and therefore, the terms have not been used in this context.
An Induced Polarisation (IP) survey has identified significant shallow ‘up-dip’ extensions, to the south, of the known North Dome Zinc-Copper mineralisation (ASX release 28 October 2016). A higher chargeability zone up to 15mV/V was reported in two southernmost east-west lines which remain open to the south. The reconnaissance RC drilling, over an established IP anomaly, confirms the presence of significant thick, shallow Zinc mineralisation.
The best intersections include:
VPW40 10m @ 7.31% Zinc from 52 m including 6m @ 9.5% Zinc from 55 m
VPW60 7m @ 4.2% Zinc from 87 m
VPW62 10m @ 5.1% Zinc from 68 m (refer ASX release 27 April 2017)
Ground gravity surveys were conducted at E57/986 over the prospective northern extension of the Pincher North Dome base metal occurrence, which is considered a volcanogenic massive sulphide (VMS) system containing copper (Cu), zinc (Zn) and lead (Pb), mineralisation (refer ASX Release 31 January 2024).
Subsequently, a moving loop electromagnetic (MLEM) transects were conducted over the gravity anomalies using the Jessy Deeps SQUID sensor at a low base frequency to achieve maximum depth of investigation. A broad late time response (PW1) was evident on line 6823050N and modelled at (400m), flat lying, high conductance (5000S) plate
Pincher Well North MLTEM PW1 anomaly location over Gravity Residual image
Pincher Well North MLTEM PW1 anomaly model results
The plate is considered significant, and one RC hole (VMC255) was drilled to a depth of 150m as pre-collar for a later diamond tail to test a conductor of 5000 siemens at 400m depth (refer ASX releases 31 January and 13 December 2024), the Company’s co- funding application has been successful and awarded for the Diamond tail.
Diamond drilling is planned to commence in June 2025 using the EIS grant for this significant broad late time 5000s anomaly to be tested.
In addition to the EIS grant to test VMC255, the Company will obtain Diamond core samples for Zn metallurgical test work from VMC250 and VMC252.
