Anglo Australian Resources – 100% interest

Anglo Australian’s Leonora Project comprises a number of Exploration Licenses located approximately 12 km to the North of the township of Leonora.

The Project covering 12 kms of strike strategically located only 32 kms to the south of, and along strike from, Independence Group Limited’s Teutonic Bore – Jaguar – Bentley mineralized VMS corridor.

These deposits, discovered by drill testing bedrock electromagnetic conductors, occur near the boundary between mafic and felsic units.

Anglo Australian’s project would appear to host these felsic volcanics and sediments broadly analogous to the geology at Jaguar and Bentley.

Based on interpretation of previous aircore drilling and aeromagnetic data, Anglo Australian considers 7km of this zone is highly prospective for VMS-style mineralisation.

As bedrock in the zone is mostly covered by younger transported sediments, the company has identified Moving Loop Electromagnetic (MLEM) survey as its primary exploration tool to search for VMS deposits that are generally highly conductive and amenable to location by such geophysical methods.

A MLEM survey completed in May 2011 at the Leonora Project targeting potential massive copper-zinc mineralisation discovered a strong 800m long bedrock conductor. Sample spoils from previous aircore drilling indicated that the conductor was located within favourable stratigraphy proximal to the contact between felsic and mafic volcanic rocks. Preliminary interpretation of the MLEM anomaly by the company’s geophysical consultants suggested the source of the conductor (potentially massive or disseminated sulphide) commenced at the base of weathering approximately 100m below surface and dipped steeply south west. The conductor presented an exciting and compelling drill target.

Two diamond core holes were completed in October 2011 as extensions to the pre collar holes completed in May. Both diamond core holes intersected a sequence of mafic and felsic volcanic and volcaniclastic rocks with minor non-volcanic units. Trace to minor amounts of disseminated sulphides consisting of chalcopyrite, pyrrhotite and pyrite were observed in the core and a narrow zones of stringer chalcopyrite and pyrrhotite were intersected within a foliated mafic intrusive in hole LRCD001. Anomalous copper and zinc values supported by weakly anomalous values in antimony and tin were recorded in several of the intervals selected for assaying. The best intersection comprised a 0.65 metre interval at 2.08% copper from 233.25 metres in hole LRCD001. Narrow zones of black shale containing variable amounts of pyrite and pyrrhotite and minor amounts of chalcopyrite intersected in both holes most likely explain the source of the MLEM conductor.

A downhole EM survey was subsequently undertaken on each hole to define and confirm the conductive zone.

Analysis suggests a strong off hole conductor possibly related to massive sulphides has been detected in both holes.

Felsic volcaniclastic

Chalcopyrite and Pyrrhotite stringers

Chalcopyrite and Pyrrhotite in mafics

For the latest information on the Leonora Base Metals Project, refer to the Investors page on this website.