Barracuda Ni Cu PGE Project
Outcropping PGE mineralisation assaying 8.27g/t PGE was discovered by Pancon in 1987 on the contact between mafic and olivine-rich ultramafic rocks. Subsequently, PGE-sulphide minerals were identified in the rocks by the Western Australia Geological Survey in 2016.
This highly prospective area has the potential to host substantial magmatic, mafic-ultramafic intrusion-related Pt-Pd-Ni-Cu sulphide deposits and has received no attention since Pancon drilled 1,811m of diamond and shallow (<100m) RC holes in 19886.
CAV intends to apply the latest airborne EM technology to delineate conductors for drill testing as no ground-based electrical geophysical surveys (EM, IP) have ever been conducted within E58/551.
Figure 1, Location of the Barracuda PGE-Ni-Cu Project Area (E58/551)
Historical Exploration
Pancon held exploration licenses over most of the Windimurra Igneous Complex between 1985 and 1990 and targeted magmatic PGE-Ni-Cu sulphide mineralisation. Their exploration culminated in the discovery of outcropping magmatic PGE-Cr-Ni-Cu mineralisation in October 19875 within the area now secured by E58/551.
Pancon initially conducted geological mapping and drainage sampling to identify and delineate PGE anomalous catchments and favourable geology. These areas were then followed-up with traverses of close-spaced (10m) soil sampling (-80 mesh) on lines 200m to 800m apart. Unfortunately, this soil assay data (Cu, Ni, Pt, Pd) was only ever presented graphically (analogue) as stacked line profiles 6. It is possible to rebuild digital assay tables from the Pancon diagrams to enable advanced data manipulation and reinterpretation – a process that CAV will undertake, and it is likely to identify new drill targets when interpreted in conjunction with new, and the first ground EM survey data.
Figure 2, Location of Pancon. Drill Holes (yellow) and rock chip samples (blue)
Pancon drilled seven diamond (WO-1 to W0-7) and 15 RC percussion (WP-1 to WP-15) holes (Table 1) for a total of 1,811m, and concluded that the Wondinong area (now within E58/551) contains some of the most fertile (least evolved), metal-rich (PGE-Ni-Cu), olivine-bearing mafic (gabbroic) and ultramafic rocks within the Windimurra Igneous Complex. Rock-chip samples assayed up to 3.15g/t Platinum and 4.30g/t Palladium, 0.38g/t Rhodium and 0.34g/t Rubidium (Figure2 and 3), and PGE-sulphide minerals were identified in rock samples by Pancon6, and subsequently confirmed by the Western Australia Geological Survey in 20162.
Pancon’s drilling in 1988 intersected broad intervals (>20m) of olivine-bearing gabbroic rocks that contain anomalous copper (200 to 800ppm Cu), nickel (200 to 800ppm Ni) and platinum-palladium (100 to 500ppb Pt+Pd), which further highlights the fertility of the system, and a number of higher-grade intervals associated with magmatic sulphide were delineated by their limited drilling (tabulated below).
No further holes were drilled and no further exploration for magmatic PGE-Ni-Cu sulphide has been conducted within the area since 1990. Pancon relinquished its exploration license (E58/41) in August 1991.
Pancon had a focused drilling campaign following the discovery of the outcropping PGE mineralisation. However, CAV intends to take a broader approach to evaluating this fertile intrusive sequence of mafic-ultramafic rocks by applying technologies that were not available to Pancon at the time such as helicopter-borne airborne EM.
Exploration Strategy
CAV intends to undertake initial fieldwork at the Barracuda project as soon as possible. The proposed work program includes;
• Fly the Project area with airborne EM (used by Chalice Mining Limited (ASX:CHN) to define the Julimar PGE- Ni-Cu-Co-Au discovery).
• Digitally capture the Pancontinental soil geochemistry and contour the PGE, Ni,and Cu data to define metal-anomalous trends.
• Follow-up airborne EM anomalies with ground EM, with priority given to areas with established, coincident PGE-Cu-Ni soil anomalism.
• Drill-test targets subject to results.
