Gravity survey identifies ‘significant’ anomaly at WA1 Resources’ West Arunta project
WA1 Resources managing director Paul Savich says the anomaly represents a potential iron oxide-copper-gold exploration target.
A gravity survey has identified a “significant new anomaly” at WA1 Resources’ (ASX: WA1) West Arunta project in Western Australia.
The helicopter-supported ground gravity survey identified the anomaly, now known as the Luni target, within the northern portion of the Sambhar prospect.
Luni has been described as particularly analogous to OZ Minerals’ (ASX: OZL) Prominent Hill iron oxide-copper-gold (IOCG) deposit in South Australia in terms of size, shape and amplitude.
Commenting on the anomaly, WA1 managing director Paul Savich said it was 2km by 500m in size.
“In conjunction with its structural position and partially reduced magnetism, makes for an exciting, potentially hematite dominated IOCG exploration target.”
“It is these sorts of IOCG exploration targets, which have the potential to produce a meaningful discovery.”
Mr Savich noted that these results demonstrate how detailed geophysical surveys may uncover new deposit-scale anomalies that are not observable in regional survey datasets.
Advancing West Arunta
WA1 is finalising plans for on-ground reconnaissance activities across West Arunta, with the program due to begin early next month.
In parallel with a mapping program, WA1 will undertake surface sampling to generate further data to underpin geological models and assist with target ranking.
A maiden drilling program will then follow.
WA1 debuted on the ASX in February after acquiring West Arunta last year and raising $4.5 million in its IPO.
The project is 490km south of Halls Creek in WA and 700km west of Alice Springs in the Northern Territory.
It hosts the Pachpadra, Sambhar and Urmia prospects.
Historical exploration across the project has been limited to geophysical surveys, soil sampling and a single diamond hole drilled in 2010.
In late 2020, Encounter Resources intersected hydrothermally altered mafic intrusions with a distinctive IOCG geochemical signature and altered potassic granite.
Following its ASX listing, WA1 applied for two new exploration licences, which expand West Arunta from 267 square kilometres to more than 1,500sq km.
Rio Tinto (ASX: RIO) has pegged up ground in the region and is farming-into five tenements contiguous to WA1’s West Arunta project.