Argonaut Resources (ASX:ARE) has called in 20 semitrailer trucks to deliver drilling equipment, accommodation units, ground protection matting and ancillary vehicles and a track-mounted drilling rig to the Murdie project site in South Australia.
Drilling targeting Iron Oxide Copper-Gold (IOCG) mineralisation defined by large gravity anomalies is scheduled to commence next week, with drilling to be conducted 24/7 in two daily shifts.
The drilling crew is currently testing environmental protection equipment, undergoing training for specialist equipment, and receiving site inductions in preparation for the commencement of drilling at the first drilling site. The first site is near the edge of Lake Torrens at the target labelled Smith Dam 1.
The Murdie exploration licences covers two largescale, regional gravity anomalies – West Lake Torrens and Murdie. These anomalies represent locations with significant volumes of high-density rock that could contain economic IOCG deposits. Efforts are being focused on the West Lake Torrens anomaly.
Argonaut has identified seven excellent drilling targets at the West Lake Torrens anomaly.
Argonaut plans to drill test Smith Dam 1 and Smith Dam 2 first. Other targets will be prioritised on the basis of results.
The company two highly prospective South Australian exploration licences, EL5937 and EL5945 at Murdie.
The licences are contiguous with the company’s Torrens project. The licence areas cover a confirmed IOCG target in an area known as Murdie as well as a second anomaly at West Lake Torrens. There are 54 known residual gravity targets within the area.
The licences cover an area of 1,015 square kilometres and are located immediately south and east of the Torrens project and east of the Carrapateena mine.