Infinity Mining has received a five-year extension to a key tenement that forms part of its Panorama project in the Pilbara region of WA that the company says is highly prospective for gold and base metals.
The site sits immediately south of the explorer’s Sulphur Springs and Kangaroo Caves base metal deposits with similar geology extending to the south onto Panorama.
The Panorama project consists of three tenements covering 252.3 square kilometres about 40km west of Marble Bar. The western side of the project is located over a complex structural area on the eastern edge of the Shelley monzogranite complex also hosting Sulphur Springs and Kangaroo Caves.
Sulphur Springs holds 17.4Mt at 1.3 per cent copper, 4.2 per cent zinc and 17 grams per tonne silver whilst the Kangaroo Caves deposit hosts 3.55Mt at 6 per cent zinc 0.77 per cent copper and 15.2 g/t silver.
The major focus area within the tenement receiving the extension is the Bonnie Scot prospect where the company has identified conglomerate gold-style targets. Historical sediment sampling by Noranda in 1985 returned grades of up to 3.5 g/t gold and 7 per cent copper.
Over the past five years Infinity has completed a significant body of work on the Panorama project including an initial stream sediment sampling program in 2018. Multi-element assays were received confirming several anomalous sediment values of up to 113 parts per billion gold in the north-west of the site.
This year a total of 16 rock chip samples were collected during field reconnaissance with a standout gold result of 0.23 parts per million in a sample of altered felsic volcanics from a small hill near the centre of the identified 2018 stream sediment anomaly.
A drone magnetic survey was completed in August this year to aid interpretation of the underlying basement rock and plan further exploration.
Infinity Mining Chief Executive Officer, Joe Groot said: “The first phase of exploration planned for the next period will involve detailed interpretation of the new drone magnetic data and incorporating previous geological and geochemical data. This will be followed by a program of geological mapping, rock chip sampling and soil sampling where outcrop and residual soils are present.”
Last week the company began an electromagnetic survey across three of its projects in the Pilbara region as the company aims to home in on nickel, copper, gold and zinc anomalies.
The explorer is surveying its Strelley Gorge, Panorama and Hillside projects near Marble Bar to identify drill targets for its upcoming exploration planned for 2023.
Target areas within the Panorama project identified in the magnetic interpretation as possible gold mineralisation will be followed up with field reconnaissance, sampling and drill testing.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
