Exploration Projects & Upside


Capricorn Copper’s exploration program is aimed at enhancing the current Mine Life, expanding the current resource and reserve base as well as delineating and potentially developing new discoveries in the region.

The three core focuses for the proposed exploration program are:

  • In-Mine – focus on extending known Mineral Resources in order to extend mine life and/or production rate, through a process of check-logging, geological modelling and drilling
  • Near-Mine – focus on testing priority near-mine targets with a view to delineating satellite resources to augment and expand the current mine plan. Key tools will include geological mapping, geophysical surveys (EM/IP) and re-modelling of existing geophysical datasets, soil geochemistry, geological 3D modelling and drilling
  • Regional – review existing datasets and collect additional data (e.g. geology, VTEM airborne geophysical datasets) in order to define and prioritise targets for testing. Potential targets will include satellite copper resources (e.g. Bluff), stand-alone copper resources as well as other commodity targets (e.g. Bowerbird gold camp). Key tools will include geological mapping, geophysical surveys (EM/IP) and re-modelling of existing geophysical datasets, soil geochemistry, geological 3D modelling and drilling.

To assess and prioritise targets with the greatest chance of delivering new resources based on key exploration criteria (e.g. geological and structural setting/geochemistry/geophysics), Capricorn Copper will leverage off significant existing data sets and an improved geological model developed for the Project, as well as substantial in-house knowledge of various Mount Isa Inlier deposits.

A number of high potential targets have also been identified in proximity to the existing operations. The work completed on these targets, confirms the potential of Capricorn Copper’s land package which contains highly prospective ground for near mine discoveries of economic ore bodies. Geophysical surveys including airborne magnetics/radiometrics, Very Low Frequency Electromagnetics and Input Electromagnetic\GeoTEM have been conducted historically over the broader project area, along with geological mapping, geochemical sampling and Rotary Air Blast sampling. Only limited exploration drilling has occurred historically within the Capricorn Copper tenement package, which covers approximately 1,800km2, with 44 collars, totaling 10,365m of diamond and percussion drilling recorded in the Queensland Government open file data up to 1993. Capricorn Copper believes the combination of the knowledge developed as part of its current geological program and the prospective nature of the land package, will allow it to advance a number of these opportunities in the near term.

An initial review of exploration datasets and work completed has been undertaken by Capricorn Copper for the numerous prospects. Targets have been ranked on the basis of size potential, exploration stage and results to date. Results of this review are presented below.

In-Mine

Mineral Resources are currently defined at Greenstone, Esperanza South, Experanza-Pluto, Mammoth and Mammoth North. These deposits are structurally-controlled, copper-bearing mineralised shoots and remain open at depth. The lower limits of these orebodies are typically constrained only through lack of information within the deeper levels of the orebodies (e.g. Mammoth Deeps). In addition, potential remains to reclaim remnant ore material (including 4-Lens and H-Lens) within the existing Mammoth mine area.

Exploration Potential within the Known Ore Bodies

Near-Mine

Work completed during the Restart Execution Studies highlighted the potential for additional discrete, high grade lenses that can potentially be missed by broadly spaced drilling. As a result, a number of Near-Mine Exploration Prospects have been identified for immediate follow up work.

Capricorn Copper Near-Mine Exploration Prospects
 

Regional

Capricorn Copper has considerable greenfield exploration upside in the tenement packages surrounding the current mining area that remains relatively under-explored.

Capricorn Copper Regional Exploration Targets