Pharos Project

Located in the Murchison Province, Western Australia, the 640 km2 Pharos Project is contiguous with granted Scorpion Minerals tenure at Mt Mulcahy. Systematic exploration will focus on interpreted structural controls for primarily gold mineralisation associated with NNW trending splay structures off the Big Bell Shear, a major regional structure associated with significant gold endowment, including the 5 Moz Big Bell gold deposit.

Tenure over geology
Tenure over geology, with known mineral occurrences and drilling highlights

The tenements are consider prospective for a number of gold mineralisation types including:

  1. Shear zone hosted lode style mineralisation hosted in mafic, ultramafic and felsic volcanics
  2. Banded Iron hosted “Hill 50” style replacement deposits
  3. High grade quartz vein “Day Dawn” style mineralisation hosted within dolerite and basalt
  4. Felsic porphyry hosted quartz stockwork and ladder vein mineralisation

The stratigraphic sequence to the west of and adjacent to the Big Bell shear contains all the above rock types and systematic exploration has not been undertaken historically where the NNW trending splays off the Big Bell shear intersect these lithologies. Previous explorers have noted repeated observation of sericite-chlorite-carbonate alteration and pyrite-arsenopyrite mineralisation associated with gold mineralisation, which the company believes indicative of large Archean gold hydrothermal systems.

History

A number of companies have held tenure in the area; however no systematic exploration was completed over the larger project area due to fractured ownership, and changing commodities focus over time from gold to base metals and then to iron ore. This has resulted in incomplete programmes, particularly for gold, that focused on stratigraphic trends rather than cross-cutting structural targets that the company’s geologists believe offer enhanced prospectivity.

As an example early limited RAB drilling at Candle was oriented across the NNW-trending structures and intersected significant shallow gold mineralisation, however more detailed follow-up drill traverses were oriented parallel to the trend and failed to adequately test the likely mineralisation trend.

Current work

During heritage clearance surveys in June, the Company undertook additional rock chip sampling of areas outside the known Beacon, Lantern and Candle prospect areas.  Selective rock chip sampling of outcrop and workings, including quartz veins of various orientations, was undertaken.  Fifty-seven samples were taken for analysis by fire assay, with seventeen samples returning anomalous values above 150 ppb. This is in addition to February’s rock chip sampling where thirty-seven samples were taken for analysis, with eight samples returning anomalous values above 180 ppb.

Highlights from rock chip samples include two high grade (10.5 g/t Au and 10.0 g/t Au) assays returned from undrilled workings 200m apart, at a prospect now named Salt Flat, 200m West of Cap Lamp (see figure below).

Location of Pharos advanced prospects showing 2020 rock chip sampling

Planned exploration

  1. Reprocessing of existing air magnetics and completion of a regional geologic interpretation
  2. Detailed geological mapping of selected target areas.
  3. Systematic auger soils geochemical sampling of the project initially focusing on high priority targets.
  4. Follow up RC drilling of historic drill intercepts at Candle, Lantern, Mustang Sally, Ulysses and Laterite Hill.