Leichardt
Location: | 50km NE of Mt Isa |
Tenement Area: | 142km2 |
Primary Target: | Copper (shear hosted) Uranium (skarn) |
Highlights: | High concentration of abandoned copper workings |
| Intersections at Barbara Prospect (external to Mt Isa Metals joint venture tenement) include: 18.0m @ 3.2% Cu from 20.0m |
| Immediate drill targets on JV tenements |
2 x 10km long uranium-channel radiometric anomalies |
The Leichardt Project comprises one wholly owned tenement (Cleanskin), one wholly owned tenement application, and two tenements (Barbara and Blockade) that are subject to a joint venture agreement with Syndicated Metals Limited (Mt Isa Metals 49%). The Leichardt Project is considered prospective for shear-hosted copper deposits and Mary Kathleen style uranium deposits.
The Leichardt Project tenements lie wholly within the Mt Isa Inlier where the target Proterozoic age rocks either outcrop or are subject to a relatively thin layer of sedimentary cover. Regional prospecting activity has been widespread and numerous abandoned small scale copper workings have been identified within the broader project area.
Copper mineralisation is generally located within NW-trending fault systems lying between the regional-scale Mount Remarkable and Wonga Faults. Immediate opportunities present to explore for extensions to these historical copper workings via step-out drilling into areas of shallow cover.
In May 2008 Syndicated Metals Ltd received initial assay results from first pass drilling of the Barbara shear zone outside, but immediately adjacent to, the eastern boundary of the Mt Isa Metal's Barbara joint venture tenement. Syndicated Metals drill hole BARC002 intersected 24m @ 3.1% Cu and 0.25g/t Au (from 73m) and confirmed a significant zone of open ended sulphide copper mineralisation. The mineralisation trends down dip to within 50m of the West Leichardt Joint Venture tenement boundary. Drilling within the JV tenement is planned as soon as practicable after tenement grant.
Uranium exploration within the Leichardt Project will be focused on the Cleanskin prospect where two 10km long uranium-channel radiometric anomalies have been identified adjacent to the interpreted contact between the Wonga Granite and the Argylla Formation (Cover sequence 2). The geological setting is similar to that of the Mary Kathleen* uranium deposit located some 50km to the south, which is a skarn style deposit also associated with the contact zone of the Wonga Granite and the Corella Formation (Cover sequence 2).
Exploration at the Leichardt Project will initially focus on drilling of copper targets within the Barbara and Blockade tenements. Exploration may include the use of TEM geophysical surveys which have previously been successful in identifying near surface copper sulphide mineralisation within the project area.
| Tenement Number | Tenement Name | Interest |
| 15760 (EPM) | Cleanskin | 100% |
| 16112 (EPM) | Barbara | 49%^ |
| 16197 (EPM) | Blockade | 49%^ |
| 17914 (EPMA) | Blockade East | 100% |
* Not an asset of the Company.
^ Mt Isa Metals Limited has entered a joint venture (West Leichardt Joint Venture) with Syndicated Metals Limited.
