There’s been a mild rumble of interest in Perth-based Strategic Elements Ltd (ASX: SOR) and it has not been at the renewed focus on its licence in the Golden Blocks region at the top of New Zealand’s South Island.
Rather, it has been well away from the dense vegetation that now shrouds the historic Aorangi gold mine at Golden Blocks, and in the desert country of remote Western Australia’s Office Basin that takes in the Ilkurka and Lennis prospects.
The market-orientated website SmallCaps indicated there had been a significant lift in Strategic Elements’ share price after detailing results of a gravity survey that focused on a magnetic ring structure.
SmallCaps said the previously-unidentified anomalies sit within rings of up to 20 kilometres diameter within the remote Gibson Desert, near the border of South Australia.
The structure was found during a land-based survey and 3D inversion modelling programme over three weeks and utilising 1,000 separate gravity stations.
SmallCaps speculated that while the cause of the magnetic rings is unknown – they could be the result of meteoric impacts, igneous intrusion or a mineral alteration system – a scenario recognised internationally to be a potentially significant minerals target.
The website cited prominent examples are the Witwatersrand Basin in South Africa – which holds the world’s largest-known gold reserves and has produced approximately 40% of all gold ever mined on earth – and the world-class nickel-copper-platinum group elements deposits in mafic-ultramafic intrusions of Canada’s large Sudbury impact structure. However, this an inkling that, in comparison, is just a good sniff.
Geoscience Australia has interpreted multiple deep intrusions of the Albany Fraser Orogeny in the area around the magnetic ring features at both Ilkurka and Lennis.
Albany Fraser mafic-ultramafic intrusions are well known to the market from the success of Sirius Resources’ massive Nova nickel-copper-cobalt discovery in WA’s goldfields region in 2012, and the company was absorbed into Independence Group (ASX: IGO) which now has a major mining operation there.
SmallCaps said the Ilkurka and Lennis anomalies have prompted the generation of new target zones for nickel-copper-gold sulphide mineralisation, often associated with very large deposits of nickel, copper, platinum group metals and gold.
Strategic Elements managing director Charles Murphy said the company plans to explore the newly-identified zones via IP geophysical surveys designed to detect zones of disseminated sulphides which could carry these mineralisations.
Let’s hope this is done with more expediency than the Golden Blocks quest that has been largely inactive in recent years, with the company citing some permitting issues.
Golden Blocks was a focus at the recent AusIMM NZ Mining Conference in Tauranga when well known Dunedin geoscientist Paul Angus gave a presentation on the area’s scope, with the support of Strategic Elements.
Sources: smallcaps.com.au; nzresources.com