Heazlewood (BSM 80%, Pioneer Nickel 20%)
The exploration licence area covers a folded, layered sequence of ultramafic rock types, considered prospective for nickel and platinum group metal (PGM) deposits. The prospectivity of the tenement is based on:
- Numerous historic nickel and PGM occurrences and small workings;
- Regional geological elements permissive for granite-related contact aureole style deposits such as the Avebury Nickel deposit being developed by Allegiance Mining NL.
- Recent modelling by BSM's exploration alliance partner, Geoinformatics Exploration Inc, indicating new mineralised targets based on favourable rock types and geological structures.
Three areas of particular interest have been identified from the recent soil programme based on coincident nickel, cobalt and chrome anomalism and the structural-lithological setting (Refer Figure 14).
Figure 14: Heazlewood Summary Plan
Whyte River (Au, Fe & Ni potential), (BSM 80%, Pioneer Nickel 20%)
This exploration licence is situated between the historic Corinna Gold field and the operating Savage River Iron ore mine. BSM considers this licence is prospective for:
- Magnetite iron: BSM is in the process of evaluating a significant magnetic anomaly in the same stratigraphic position as the Savage River Magnetite iron deposit and mine. Surface rock-chip samples confirm the presence of iron mineralisation and have contained both hematite and magnetite. A detailed ground magnetics survey is planned for the area to assist in delineating the body and assist drill-hole planning.
- Nickel: A soil geochemistry program is planned over the interpreted position of inferred ultramafic units, which may be prospective for sulphide nickel deposits.
- Gold: This exploration licence covers the eastern portion of the historic Corinna Goldfield which was worked for alluvial gold around the turn of the 19th Century producing between 600kg and 900kg of gold. By 1881, coarse gold was reported from workings at Nancy Creek, Lucy Creek and Paradise River, which all lie within the southern half of the boundary. The bedrock source of the alluvial gold remains enigmatic, with results failing to locate a source despite gold grain morphology studies suggesting it is local. Structural analysis of the tenement has identified several significant intersections which may be foci of gold mineralisation.
