Explorer 108

Explorer 108 Prospects (Zn-Pb-Ag±Au-Cu)

The Explorer 108 Pb-Zn-Ag deposit is located approximately 40km west of Rover 1 and is a substantial base metal target with a significant resource that remains open in most directions.

Drilling has defined a very large hydrothermal system with significant high-grade lead-zinc-silver mineralisation to date with a Total Inferred Resource comprising:

        8.73 Mt @ 5.6% (Pb+Zn), 20g/t Ag, 0.3g/t Au, 0.1% Cu for
        170,990t Pb, 319,900t Zn, 5,587,300 oz Ag, 70,900 oz Au

An internal high grade portion is particularly well developed along the basal margin of the resource and includes:

       3.99 Mt @ 8.2% (Pb+Zn), 25g/t Ag, 0.3g/t Au, 0.1% Cu for
       112,000t Pb, 213,600t Zn, 3,141,500 oz Ag, 42,000 oz Au

The resource is defined by drilling over an area of 350 metres north-south by 200 metres east-west and remains open in most directions. The mineralisation is hosted in a 200 to 300 metre thick brecciated carbonate (dolomite) and sheared acid volcanic sequence and is a new style of mineralisation not previously recognised in the region.

The high grade mineralisation consistently occurs at the contact of the upper dolomite sequence and the underlying acid volcanic and sporadically elsewhere within the breccia. The higher grade lenses typically range from 5-20 metres thick and contain a high-grade core of grading in the order of 10 to 20% combined Zn and Pb. This high grade material has the potential to support an underground mine subject to sufficient resources being defined.

In addition, gold and copper is associated with the mineralisation and suggests the Explorer 108 mineralisation may be part of a larger and zoned polymetallic ore system.

Recently a high powered and “state of the art” Heli-TEM survey has been completed over the area with the aim of defining additional drill targets for further testing.
 

Explorer 108 - Drillhole Location Plan Showing extent of Zn + Pb mineralisation idendtified from drilling.

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Gravity image showing Explorer 108 drilling and potential gravity ridge extensions to the immediate north.