Warrego North Project
The Warrego North Project is located within the Tennant Creek Iron Oxide Copper Gold (IOCG) district which has historically been exploited for high-grade gold and copper.
Chalice has identified multiple highly prospective IOCG anomalies within the vicinity of the historical Warrego Mine. The renowned mine successfully operated from the late 1950's to late 1980’s and was, at that time, the largest gold-copper producer in the district.
Chalice believes coincidental magnetic-gravity anomalies are strong indicators of potential high-grade copper and gold mineralisation. The Company has identified three high priority anomalies scheduled for drill testing in Q3, 2018 (Figure 1).
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Figure 1. Warrego North Project location map map including major prospects, tenure and planned drilling.
The Warrego North Project is strategically located in the endowed Tennant Creek Mineral Field in the Northern Territory of Australia (Figure 2).
Figure 2. The Warrego North Project (EL23764) is located in close proximity to several historically significant mining operations.
Geology and Exploration
Warrego North lies on the western extension of the Warramunga Formation, a sequence of Palaeoproterozoic turbiditic sediments which host all of the ironstone copper-gold-bismuth deposits in the Tennant Creek Mineral Field.
The project has been subject to previous exploration programs including ground geophysical (magnetic, gravity, induced polarisation) surveys, surface geochemical surveys and limited rotary air blast (RAB), reverse circulation (RC) and diamond (DD) drilling. Numerous highly prospective IOCG targets remain to be tested by drilling.
EL 23764 is subject to a farm-in agreement with Meteoric Resources Limited gives Chalice the right to earn up to a 70% interest in the Project by sole funding a total of $800,000 in exploration expenditure. Chalice may earn an initial 51% by sole funding $400,000. Other granted licenses are 100% owned.
- Mine Management Plan, June 2018
- Appendix 4 to Mine Management Plan – Significant Flora and Fauna Memo