(100% AQD – South32 earning to 70% )
Blue Billy Joint Venture Project,
The Blue Billy JV Project is located within the Edmund Basin in Western Australia and is targeting sedimentary zinc deposits similar to those found in the Mt Isa-Century District of north-west Queensland.
Previous exploration in the area located many anomalous zinc values (up to 0.5% Zn) within a pyritic black shale horizon (the Blue Billy Formation) containing indicator elements characteristic of a distal halo to SEDEX-style zinc mineralisation.
Compilation of regional data identified structural complexities in the area of interest and the possibility of localised sub-basins reflecting priority targets for sediment hosted zinc. The Company’s tenement covers a regional scale fault ~10km down-dip from the known zinc occurrences.
Wide spaced reconnaissance drill-holes intersected thick intervals of pyritic and carbonaceous black shales, the preferred host rock for sediment-hosted zinc mineralisation. Initial drilling was designed to identify possible vectors to mineralisation with hole locations between 4km and 10km apart.
Assay results support the zinc potential of the prospect, with all holes showing geological and geochemical characteristics consistent with other major mineralised basins found in northern Australia. A zone of elevated indicator elements (Zn, Cu, Ag and Cd) with values in excess of ten times normal shale backgrounds provided strong evidence for mineralising processes being active within this portion of the Edmund Basin.
Alteration within drill-holes BBDD03 and BBDD04 (~10km apart) was strongest, suggesting closer proximity to potential zinc mineralisation. This included stronger manganese alteration within the footwall sediments and stronger mineralisation (15 metres @ 0.26% Zn, 350ppm Cu and 3g/t Ag in BBDD04) within the black shales.
Detailed VTEM data have been acquired to outline areas for possible follow-up drilling. Conductivity cross-sections are being prepared and structural contours to the top of the black shale horizon will be produced to identify potential structural trap sites for buried zinc mineralisation for consideration as future drill targets.
The company is currently exploring within Australia & Peru and holds in excess of 4,600 km² of exploration title (granted tenements and tenement applications).
Company office & mailing address:
8 Kearns Crescent, Ardross WA 6153
Phone: 08 9364 3866
Fax: 08 9364 4892
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