Sherlock Minerals Company Brief
June 2015
Email: sherlock@sherlockminerals.com.au
Sherlock Minerals Company Brief June 2015 Email: - - PowerPoint PPT Presentation
Sherlock Minerals Company Brief June 2015 Email: sherlock@sherlockminerals.com.au Disclaimer This presentation has been prepared by Sherlock Minerals Pty Ltd (the Company ). This presentation is being provided to a limited number of recipients
June 2015
Email: sherlock@sherlockminerals.com.au
Competent Persons Statement: The information in this report that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Peter Reid, who is a Competent Person, and a Member of the Australian Institute of Geoscientists. Mr Reid is a Director of Sherlock Minerals Pty
activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Reid consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. This presentation has been prepared by Sherlock Minerals Pty Ltd (the Company). This presentation is being provided to a limited number of recipients for the sole purpose of providing preliminary background information to enable recipients to understand the business activities of the
The Company does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. This presentation does not constitute financial product advice. To the fullest extent permitted by law, the Company and its associates or any of its directors, agents, officers or employees do not make any representations or warranties, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility or liability for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This document has been prepared as a summary only, and does not contain all information about the Company’s assets and liabilities, financial position and prospects and the rights and liabilities attaching to the Company’s securities. This document should be read in conjunction with any
Some of the statements contained in this presentation are forward-looking statements. Forward looking statements include but are not limited to, statements concerning estimates of expected costs, statements relating to the advancement of the Company’s investments and other statements which are not historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material.
anomaly extends 1.8 km by 1.2 km and still open.
7 % Cu and 3 g/t Au.
within massive pyrite host saprock found below soil cover.
300m by 500m in surface area, below mineralisation and starting at approximately 100m depth.
panned pyrite-chalcopyrite sulphides + gold from sap rock ore shoots
years of exploration and management experience
exploration manager for major Canadian mining house Falconbridge.
Graham Ascough Chairman
BSc, MAUSIMM, PGeo
management experience.
successful ASX mineral start up companies.
Director of ASX listed Lawson Gold
Peter Reid Managing Director BSc Hons, MAIG
years of industry experience
public listed and private companies
with strong capital raisings.
Donald Stephens Director & Company Secretary BAcc, FCA
Lead, Zinc and Silver VMS Deposits of the Mt Read Volcanic Belt
strike length of the underexplored southern portion of the highly prospective Mt Read Volcanic Belt
Read Belt in Tasmania!
28Mt @ 14.3% Zn, 4.3% Pb, 2.4 g/t Au 16Mt @ 12.6% Zn, 5.9% Pb, 2.2 g/t Au 311Mt @ 1.0% Cu, 0.3g/t Au 2.83 Mt @ 12.5g/t Au 12.0 Mt @ 1.11% Ni Mt Read Volcanic Belt 24.54 Mt @ 1.41% Sn
Project
Project
VMS, Gold and other Nickel Plays
historical airborne EM data and has identified numerous targets exhibiting VMS and Ni-PGE type signatures
EM targets (red and blue dots)
Thomas Creek Henrietta Hill 99
geochemical and geophysical target
Class Sized Deposit
magnetic ring typical
deposits
rift / transfer fault intersection - regional dilational zone
RTP aeromagnetic image and tenement outline
Thomas Creek Porphyry Target
target in centre of magnetic low consistent with the expected response from a porphyry system
Surface IP Anomaly Copper in soil Anomaly
(Cu range 200ppm – 7.0%; sporadic Au upto 3 g/t)
Magnetic Feature Magnetic Body IP anomalies
3D View (looking North)
400m
Proposed Drill Collars
Panned samples show chalcocite ± covellite (blue-grey) partly replacing chalcopyrite. Soil anomaly includes exceptional assays up to 7.0% copper 3 g/t gold Economic grades of primary copper-gold occurs in deeply weathered remnant thick ore shoots, several metres in width and open along strike
do not test the IP anomaly and appear have been drilled adjacent to parallel shallow high grade ore shoots.
TCD2 - 58m @ 0.08% Cu from 40m, TCD5 - 15m @ 0.17% Cu from 32m.
zones – higher copper-gold grades may not have returned sample for assay.
andesite with extensive hematite stockwork vein system (after primary sulphide?) and intense – silica - K-spar, sericite, chlorite alteration
uplift)
zone!
Typical alteration Chl-Ser + hematite stockwork veining
15m @ 0.17% Cu from 32m
76m @ 0.05% Cu from 45m
58m @ 0.08% Cu from 40m
Inc 27m @ 0.1 from 71m
300m
GeoTEM Z component Channels 1-15 GeoTEM Z component Late time TMI (magnetics)
Intense late-time electromagnetic high RTP magnetic image with strong magnetic highs likely mapping prospective ultramafic rocks
1km
not recognised by previous explorers
mapped belt of ultramafic rocks
iron gossan which assayed 0.6% Ni & 52ppb Pt
unexplored strike length
deposit (12Mt @ 1.11% Ni) Geological map with priority 1 EM targets (red circles)
Ultramafic rocks
Australia are similar in age, lithology and geochemistry to those in western Tasmania
base metal VMS mineralisation is abundant.
cover to the southeast, where limited historical drilling indicates the main volcanic source rocks occur
previously been an impediment to EM techniques
technology (eg B-field) will allow Sherlock to generate new targets in this terrain
Outcropping Cambrian rocks (purple) continue under cover in the Padthaway region (aeromagnetic data). Red dots indicate base-metal mineralisation. EL 5387
31.3 Mt @ 0.8% Cu, 0.2 g/t Au, 2 g/t Ag 1.1 Mt @ 4.9% Zn, 2.0% Pb, 0.1% Cu, 23 g/t Ag, 0.3 g/t Au
EL 5384 EL 5386 EL 5385
Sherlock Cu-Zn-Pb-Ag
Scout roadside drilling by DMITRE (1994) highlighted the prospectivity of this region with the discovery of the Sherlock prospect.
MOO24 - 14m @ .62% Cu from 72m (inc. 2@ 0.93%) and 17m @ 0.28% Zn from 72m (inc. 2m @ 0.94%)
Pasminco 1995 – Limited Follow-up
SHR-07 - 8m @ 0.75% Cu, 0.22% Zn from 74m (inc. 4m Cu @ 1.3%) SHR-08 - 1m @ 6.1% Cu, 0.6% Zn from 101m 2m @ 1.67% Zn, 0.77% Pb and 24 g/t Ag from 91.5m
+ other anomalous Cu-Pb-Zn shows and alteration
To date no serious systematic follow up, no regional exploration around Sherlock, or along the Padthaway Belt
Chalcopyrite + Sphalerite, Sherlock Prospect
EL 5384
Kanmantoo Mine
31.3 MT @ 0.8% Cu, 0.2 g/t Au, 2g/t Ag
Angus Mine
1.1 Mt @ 4.9% Zn, 2.0% Pb, 0.1% Cu, 23 g/t Ag, 0.3 g/t Au
Untested targets Untested targets
Example of some of the untested targets
Thomas Creek Extend geochemical and geophysical surveys to define extent and best areas to drill test Padthaway Project Advance VMS targets with EM / IP geophysical surveys to drill ready status Drill Test Thomas Creek Copper-Gold Project
Henrietta Nickel Project
Padthaway Copper-Zinc-Lead-Gold-Silver Targets
Budget $4 to $6 Million