Tennant Creek Gold- Copper Project (100%)

  • The Project is comprised of three approved exploration licenses and one exploration license application over a combined area of 76.6 square km in the Tennant Creek district of the Northern Territory  (Figure 1). These license areas result from geological targeting work conducted on BHP Billiton's extensive Australian database by the Company's geological consultant, Douglas Haynes Discovery Pty Ltd.
  • The Tennant Creek district has yielded some 5 million ounces of gold and 350,000 tonnes of copper since large scale mining began in 1934.  Gold-copper ore bodies in the district are typically high grade, averaging 9 g/t gold and 2.1% copper, and are associated with distinctive magnetic anomalies due to the abundance of the magnetic iron oxide, magnetite.
  • Significantly less exploration has been conducted in the district for non-magnetic gold-copper ore bodies. Such deposits are predicted to occur in the Tennant Creek district, but will not have the usual geophysical characteristics of the known gold-copper ore bodies. They will be associated with discrete gravity anomalies, with either a very weak coincident or adjacent magnetic anomaly, like Oz Minerals' Prominent Hill and BHP Billiton's Olympic Dam deposits in South Australia.
  • Strandline's tenements and tenement application cover weak magnetic anomalies with associated gravity responses in favourable geological settings, where little or no previous exploration has been carried out. The targets in these areas can be tested quickly and cheaply with ground geophysics and shallow drilling.
  • A single diamond drill hole, TCD1, on the Gosse 5 exploration licence was completed in May 2010, with prospective basement intersected beneath 93 metres of basinal cover rocks. No significant copper or gold values were recorded in the basement but some hematite-quartz veins were noted in the basement core. 
  • A new geophysical anomaly on the Gosse 5 exploration license, some 3.5 km to the west of TCD 1 (Figure 2) , has been chosen for a second phase of drilling because it has been interpreted as a 1.2 km long hematitic ironstone body in the 100-150 metre depth range, underlain by a magnetic zone. This geophysical signature matches the Company's modeled target.
  • The second phase of drilling, comprising two, 250 metre vertical diamond drill holes, was documented in a co-funding proposal to the Northern Territory (NT) Government.  The co-funding proposal was approved by the NT Government for approximately $42,000 but the Company released the award in August due to its cash constraints and inability to commit to drilling in 2014.  Drilling will likely be postponed until a farm-out is secured or until the Company’s cash position strengthens significantly.
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Figure 1. Strandline Tenements in the Tennant Creek District
Figure 1. Strandline Tenements in the
Tennant Creek District
Figure 2. Residual Gravity Map with Proposed Drilling and Predicted Cross Section
Figure 2. Residual Gravity Map with Proposed
Drilling and Predicted Cross Section