Sandfire and Auris Minerals provide JV update

Auris Managing Director, Mike Hendriks commented: “We are very encouraged by the initial observations from diamond drilling at Morck Well, which has highlighted previously uncharted DeGrussa formation sediments. These sediments are along strike of previous copper hits including one hole with 11 m at 3.5% copper, so we are certainly looking forward to the follow-up drilling programme and DHEM this quarter to investigate this further.

“While we are disappointed Sandfire has chosen to withdraw from the Cheroona and Cashman farm in agreements, we thank them for the work completed and we will review the full data suite once received and determine if any further follow up work is warranted on these projects once handed back on the 4 August.

“Morck Well is continuing to shape as an exciting copper-gold opportunity for the JV with follow-up work planned and diamond drilling assays expected to be received this quarter. We look forward to reporting any material progress from across our JV portfolio as exploration advances.”

Morck Well JV (SFR earning a 70% interest)

Project summary

In February 2018, Auris entered a farm-in agreement with SFR in relation to the Morck Well and Doolgunna Projects which covers ~430 km². The Morck Well and Doolgunna Projects are strategically located 22 km to the south-west and 4 km to the southeast respectively, of Sandfire’s DeGrussa Copper Mine in Western Australia. The Morck Well project is also located 8 km along strike from Sandfire’s Old Highway gold deposit with comparable high-grade gold mineralisation being intersected associated within similar geology within regional air core drilling completed to date.

Diamond drilling

One diamond drill hole (MWDD0006) was completed at the Citra prospect, to a depth of 1141 m. The drill hole was designed to test an interpreted rift and transform structure intersection proximal to mapped exhalative sediments.

Encouragingly, the hole intersected several trace mineralised horizons containing minor bornite, chalcopyrite and chalcocite.

• 808 – 809.5 m: Trace/minor bornite and chalcopyrite in exhalative jasper.
• 812 – 840 m: Trace/minor disseminated chalcopyrite along bedding planes.

The hole was successfully grouted, PVC was run for the full length of the hole and is now awaiting DHEM. All assay results from the sampling of the drill hole are pending.

Geological understanding

The completed diamond drill hole intersected previously unmapped host DeGrussa Formation sediments. The mineralised stratigraphy is being reinterpreted for follow up targeting in proximity to interpreted rift parallel structures along strike.

Geological interpretation of the area is ongoing.

Ongoing and forecast work

DHEM is planned for MWDD006 during the current quarter.

A follow up drill program has been designed to test the strike continuity of the supergene copper mineralisation and to test the potential for mineralisation at depth, associated with significant RC results returned during the March 2022 quarter. The drilling of this programme has been delayed until September 2022.

Sandfire has advised that regional targeting and geological interpretations by Sandfire personal and external consultants are ongoing.

Cheroona JV (SFR earning a 70% interest)

Project summary

On 4 February 2020, Auris and Northern Star Resources Ltd (NST) entered into a farm-in agreement with Sandfire in relation to tenements, E51/1391, E51/1837 and E51/1838, to advance exploration at the Cheroona Project located in the Bryah Basin of Western Australia.

Under the agreement, Sandfire are sole funding exploration until a feasibility study is completed on a discovery of >50 000 t copper or metal equivalent to earn a 70% interest.

Diamond drilling

All results were returned from the diamond drilling completed last quarter, comprising a 392.9 m diamond tail, CHRC0008. The drill hole was designed to test an airborne EM anomaly, interpreted to be a fractionated dolerite or a jasperoidal chert and the potential for the prospective Karalundi Formation below this anomaly and the Narracoota Formation at depth.

No significant results were received.

Read the article online at: https://www.globalminingreview.com/finance-business/27072022/sandfire-and-auris-minerals-provide-jv-update/