Following an ASX debut in February, exploration at WA1 Resources’ (ASX: WA1) West Arunta project in Western Australia during the March quarter highlighted a “significant new anomaly”, which is now known as the Luni target.
West Arunta is about 490km south of Halls Creek and, in addition to Luni, comprises Pachpadra, Sambhar and Urmia prospects.
WA1 says the prospects at West Arunta contain “significant geophysical anomalies” that are interpreted to host iron-oxide-copper-gold mineralisation.
Luni was identified from a helicopter-supported ground gravity survey completed earlier in the year at Sambhar.
The new target was pinpointed northeast of Sambhar, and the company says it could be a hematite dominated iron-oxide-copper-gold target.
WA1 noted Luni was also located at the intersection of two key interpreted regional structural features and is 2km by 500m in size.
Analogous to Prominent Hill
The company also says Luni is “particularly analogous” to OZ Minerals’ (ASX: OZL) Prominent Hill deposit in terms of shape, size and amplitude.
Located in South Australia, Prominent Hill is expected to produce up to 65,000t of copper and 135,000 ounces of gold in 2022.
The project has resources of 150 million tonnes at 0.9% copper and 0.8 grams per tonne gold.
WA1 managing director Paul Savich says Luni one has the potential to produce a “meaningful discovery”.
Expanded footprint
Following a review of regional review of ground near West Arunta, WA1 has also expanded the project’s footprint with two new exploration licence applications, which are also believed to be prospective for iron-oxide-copper-gold.
The pegging of these tenements comes after a comprehensive review of limited exploration data and expands West Arunta from 267 square kilometres to more than 1,500sq km.
WA1 expects initial exploration across the new ground will include first-pass reconnaissance and geophysical surveys once they’ve been granted.
Advancing West Arunta
Prior to WA1’s ownership, the West Arunta tenements have had limited historical exploration for copper and gold.
The company is now completing further on-ground activities across its granted exploration licences to firm up drill targets.
WA1 noted Rio Tinto has secured tenements contiguous to its own project via a staged $58.5 million farm-in agreement with Tali Resources.
Other projects
In addition to West Arunta, WA1 is advancing the Madura and Hidden Valley projects, which are also both in WA.
Madura is 540km eat of Kalgoorlie-Boulder and comprises two granted exploration licences and five applications.
WA1 says Madura is prospective for copper-gold mineralisation and is currently completing agreements to allow exploration to begin.
Hidden Valley is 150km south of Kununurra and is also believed anomalous for copper and gold.
Exploration will begin at the project once all requisite agreements, applications and surveys have been completed.
WA1 says it is also looking at assessing new opportunities to add to its portfolio.
