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Petratherm Ltd.
Summary
| Project: | Mabel Creek | |
|---|---|---|
| Deposit: | Mabel Creek | |
| Location: | Australia | |
| Commodities: | Iron-Cerium-Lanthanum | |
| Date: | 5/12/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-5-2020: Petratherm Ltd. announces an Exploration/Drilling Update report for its Mabel Creek deposit at the Mabel Creek project. Drilling results incl. 58m @ 4.7% Fe, 350ppm Ce+La from 338m. Petratherm Limited (ASX: PTR) has received assays from its rec | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Peter Reid (Internal) | |
| ABSTRACT: | Petratherm Limited (ASX: PTR) has received assays from its recent Mabel Creek Drilling Operations. The drill program successfully tested 4 gravity targets, each with a single hole to planned depths. The Mabel Creek Ridge, 50 kilometres northeast of Coober Pedy in South Australia, is considered prospective for Olympic Dam Style Copper-Gold mineralised systems and related magnetite skarn copper and high value rare-earths. The region has only been lightly explored historically and Petratherm’s drill program represents a first pass drill reconnaissance of anomalous gravity and magnetic target areas which previously had no exploration drilling. Drill hole MCDA5-01 tested one part of the large Area 5 magnetic and gravity anomaly, (Figure 4, refer to PTR ASX release 30/01/2020 for detailed target description). The hole tested the eastern flank of a strong magnetic feature and the upper portions of a deeper gravity target. A 49-metre breccia (not true width) with iron-oxide (hematite) enrichment was intersected from 337.5 metres before passing into altered granite at 386.5 metres (Figure 1). Near the base of the hole the altered granite had a later strong overprinting of magnetite which is interpreted to account for the magnetic anomaly. | |
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