Moora Copper-Gold-PGE Project
The 100%-owned Moora Project is located ~150 km north-east of Perth, a largely contiguous land position of 370km2 located in Julimar Mineral Province (JMP) of southwest Western Australia. The JMP has become one of Australia’s most active exploration areas following Chalice Mines’ 2020 discovery of high-grade Ni-Cu-PGE mineralisation at Julimar ~95km to the south (Figure 1).
The wholly owned Moora Project was acquired following regional studies which identified the western margin of the Archaean Yilgarn Craton as being prospective for nickel-copper-PGE mineralisation.
Geochemistry and geophysics have identified multiple precious and base metal targets and subsequent drilling has intersected significant mineralisation at a number of prospects (Figure 2).
Moora
Minerals 260 has been exploring at the Moora Project for approximately three years and, during this time, has drilled 448 holes for ~36,000m (311 AC, 113 RC, 13 DD and 11 RC / DD), discovering several new prospects across the project (Figure 3). Some of the more significant intersections reported to date have included:
. Mynt – up to 24m @1.9% copper and 0.7g/t gold, and 36m @1.0% copper and 0.4g/t gold
. Angepena – up to 43m @1.8g/t gold, and 16m @ 2.8g/t gold
. Zest – up to 12m @ 1.4% cU, 2.0g/t Au
. Dwel – up to 2.7g/t gold, 0.5% copper, 0.08% cobalt and 5.7% zinc
. Acga – up to 0.6g/t palladium and 0.6% copper
At Mynt, Dwel and the immediate surrounding areas, a total of 14 RC holes were drilled for 2,567m, with seven diamond tails for 881m (Figure 4). MRRD0151 which was drilled ~90m down-dip of MRRC0100 at Mynt (see ASX release dated 27th February 2023), was designed to test the continuity of mineralisation at depth. Approximately 70m of quartz was intersected from 207.35m to end of hole, with the top ~43m containing zones of sulphide mineralisation, including 18.7m @ 0.5% Cu and 0.1 g/t Au from 206.3m – 225m (Figure 3). Mineralisation remains open at depth.
MRRD0151 and MRRC0153, drilled 40m northwest of MRRD0151, intersected thinner zones of unmineralised quartz. DHEM surveys from this area have defined an off-hole conductor which is interpreted to represent a possible offset extension to the Mynt quartz-sulphide mineralisation (see DHEM Surveys section below).
DDIP chargeability anomalies drill tested in the vicinity of Mynt and Dwel, were confirmed to relate to mafic and serpentinised mafic units, the latter being a possible source of mineralisation at Mynt. Assays for four diamond tails from these anomalies are still pending, with receipt of results expected to assist with geological interpretations.
Planning is underway for follow-up drilling in preparation for the re-commencement of fieldwork in Q4 CY2024, when access is available post-harvest.
Exploration is ongoing at Moora, and readers should refer to the latest ASX releases for the latest results and planned work programs.
DHEM Sureys
DHEM surveys completed on recent drilling have defined two new off-hole conductors within the MYMA, which correlate with Gradient Array Induced Polarisation (GAIP) anomalies and may represent further mineralisation (Figure 4).
The first target is steeply dipping, 60m x 200m plate, modelled from four drill holes (MRRD0150, MRRD0152, MRRC0153 and MRRD0155). Due to its proximity to Mynt, and based on interpretation from recent drilling, it may represent an offset extension to the quartz-sulphide mineralisation.
The second target is a 100m x 200m, steeply dipping plate, modelled from MRRC0156 and MRRD0162. The target sits proximal to a chargeability high anomaly defined from GAIP surveys completed between January to February 2023 (see ASX release 22nd March 2023).
Planning is in progress to drill test both anomalies in Q4 CY2024/Q1 CY2025. SQUID EM Survey – Moora Between late-February to late March, a SQUID EM survey was completed over the northern portion of the MGA, utilising a 100m x 400m station spacing, looking for deep massive sulphides which may be a source of near surface mineralisation intersected in drilling. The survey defined five subtle anomalies in the mid to late-time channels of a similar tenor to Mynt, four of which sit in a similar structural setting to Mynt along the margins of the MGA, proximal to interpreted magnetic high mafic/ultramafic rocks (Figure 5). The three easternmost anomalies, which occur over a strike of ~800m have possibly been broken up by late-stage Proterozoic dolerite dykes resulting in three distinct anomalies. Planning is underway to complete higher resolution moving-loop or fixed-loop EM surveys over these targets in CYQ4 2024, to better define the anomalies.
