THE DRILL SERGEANT: Cauldron Energy (ASX: CXU) has fast-tracked exploration activities, including drilling, at the company’s Marree project in South Australia.
The program follows the recent discovery of a large eight kilometre by 10 kilometre silver-lead-zinc anomaly the company announced in October.
“The Board is firmly of the view that the significance of this silver-lead-zinc anomaly, in terms of value, is potentially immense and therefore we are committed to undertaking exploration activities on it as soon as practically possible.” Cauldron Energy head of operations Simon Youds said in the company’s announcement to the Australian Securities Exchange.
“We have been able to source and apply the required technical resources to this exploration program, and we look forward to commencing high resolution geophysics and a high density geochemical soil program in the coming days, ahead of a drill program commencing in mid-December 2012.
“For the first time, modern exploration tools will be used to test the exciting potential of this extensive alteration zone.”
Map of tenements, initial drill target generation exploration
program outlines T1 and T2, initial sample locations. Source: Company
Cauldron has approximately 6,000 soil sample geochemical program planned to extensively cover the target area, which is to coincide with a high density Geophysical Gravity survey.
The initial program has been designed to target gravity and soil anomalies consistent with significant silver-lead-zinc metal sulphide mineralisation of the Broken Hill or Sedimentary Exhalative type deposits.
Cauldron anticipates the results from the initial geophysical and geochemical surveys will be available in the field from the end of November 2012.
Subject to receipt of approvals from various stakeholders, the company said it expects drilling its initial target at the project in early December 2012, with results available for release to the market by mid- December 2012.
Follow up work to the initial program, including Induced Polarisation Geophysics (IP) and continued (in-fill) soil sampling, will be conducted in order to define areas around historically known mineralisation.
The company said this should calibrate the IP geophysical tool for the region, enabling it to be used on all the anomalies identified prior to the commencement of drilling activities.
Cauldron is confident this calibration activity will improve the drill success ratio and cost effectiveness of any drilling program.