The Company is currently exploring within Australia and Peru and holds in excess of 6,000 km² of exploration title (granted tenements and tenement applications).
The Company has a Strategic Alliance Agreement with South32 (SAA) that has been active for the last six years, with South32 providing funds to advance selected early-stage prospects to the drilling stage with follow-up drilling under agreed joint venture terms. During 2022 the Company received approximately A$7.0M for exploration programs in both Peru and Australia with an agreed administration fee (15%) helping to fund ongoing project generation.
The Company explores for a range of commodities and mineralisation styles including magmatic nickel-copper-platinum group element sulphides, large porphyry copper and iron oxide-copper-gold, and stratabound base metal deposits. Most of the projects are “greenfields” in nature although initial drilling at the Cerro de Fierro and Parcoy projects in southern Peru and recent drilling at the Balladonia Project in WA has confirmed potential for base metal mineralisation in each of these areas.
The Project is located in southern Peru ~140km south of the Mina Justa Cu deposit. Drilling at the Pirata prospect in 2023 confirmed the presence of multiple porphyry systems with strong indications of buried porphyry copper mineralisation located lateral to the drill holes at each target drilled.
The project is located approximately 50km north of Cerro de Fierro within similar volcanic rocks. Rock and soil sampling in 2019 and 2020 outlined large areas of highly anomalous Cu (+/- Au) within both the andesitic volcanics and adjacent monzodiorite intrusion. Initial ‘Proof of Concept’ drilling in 2021 confirmed the presence of manto copper up to 500m from the known feeder structure at the northern and southern extremities of the prospect (5km apart). Drilling in 2022 extended the copper footprint at Parcoy intersecting alteration patterns that point to possible nearby porphyry copper mineralisation.
The Hamilton Project is located in NW Queensland approximately 120km south of the Cannington mine and is targeting IOCG and BHT style deposits. Drilling to date has identified mineralised BIF sequences at the Hamilton North and Hamilton South prospects similar to those that host the Osborne copper-gold deposit (global resource ~36Mt @ 2% Cu, 1g/t Au), located approximately 70km to the north. Drilling in 2022 intersected further copper mineralization but no economic grades. Further work is under consideration.
The Moora Project is located ~150km north of Perth, Western Australia, along the south-western margin to the Yilgarn Craton. The area became the focus of industry attention following the discovery by Chalice Mining of the Julimar nickel-copper-PGE deposit north of Perth, which highlighted the untested nickel-copper-PGE potential of the region. RC drilling in 2023 intersected fractionated mafic intrusive rocks with evidence of ultramafics (preferred host for Ni-Cu-PGE mineralisation) in the lower part of the intrusion. Further work is being planned.
The Project is located ~60km south of the Nova–Bollinger nickel-copper deposit and consists of seven Exploration Licences covering an area of ~840 km². Drilling in 2020 and 2021 identified potential for BHT and IOCG style mineralisation similar to that found in north-west Queensland (Mt Isa Belt) as well as nickel-copper deposits similar to the Nova Bollinger deposit. Targeted drilling in 2022 intersected potential “lode packages” similar to those found in NW Queensland and at Broken Hill supporting the concept of Broken Hill Type (BHT) mineralization in this area. Further diamond drilling (~4,500 m) is planned for 2023.
The Morrisey Project is located ~500km north of Perth WA within the Narryer Terrane, which became the focus of industry attention following the discovery of the Julimar nickel-copper-PGE deposit north of Perth by Chalice Mining, which highlighted the untested nickel-copper-PGE potential of the western margin of the Yilgarn Craton. It consists of four granted Exploration Licences (ELs) covering an area of ~1,000km². Drilling in 2022 intersected mafic and ultramafic rocks prospective for Ni-Cu-PGE mineralization as well as crystalline magnetite within a sediment that could be beneficiated to produce a high grade (>70% Fe) iron concentrate. Gravity surveys were completed to prioritise prospects ahead of further drilling.
BSC (HONS), MAIG, MGSAPeter has over 25 years experience as a mineral exploration geologist and has held positions with major mining companies CRA, Rio Tinto and Vale.
The company is currently exploring within Australia & Peru and holds in excess of 6,000 km² of exploration title (granted tenements and tenement applications).
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