ASX ANNOUNCEMENT
16 March 2022
only | HIGHLY CONDUCTIVE ANOMALIES | |||
IDENTIFIED AT CENTRAL Ni Cu TARGET | ||||
Dundas | Highlights | |||
o Very low resistivity (equivalent to very high conductivity) | ||||
Minerals Limited | ||||
Directors | anomalies identified within the Central Target area | |||
use | o Resistivity values of less than 1.0 ohm/metre | |||
Non-Executive Chairman | o Soil sampling program to commence immediately | |||
Mark Chadwick | ||||
Managing Director | Dundas Minerals Limited (ASX: DUN) ("Dundas Minerals" or "the | |||
Shane Volk | Company") is actively exploring for nickel, copper and gold in the | |||
Technical Director | prospective Albany-Fraser Orogen, Western Australia. | |||
Tim Hronsky | Very low resistivity values identified at Central Ni Cu Target | |||
personal | Promising preliminary results have been received from a recently | |||
Company Secretary | ||||
Shane Volk | completed Audiomagnetotelluric (AMT) survey at Dundas Minerals | |||
100% owned Central nickel/copper exploration target. The AMT | ||||
Issued Capital (ASX: DUN and DUNO) | survey was designed to test, to a maximum depth of 1500m, | |||
Ordinary Shares: | 60,180,216 | conductive anomalies that were identified by the Company from a | ||
ASX Quoted: | 36,113,652 | SkyTEM airborne electromagnetic survey that it completed in August | ||
Escrow: | 24,066,564 | 2021. | ||
Listed Options: | 30,090,138 | |||
Unlisted Options: | 14,000,000 | AMT survey model results sections (lines 11000 and 12250) are | ||
shown as Figures 1 and 2. The very low resistivity values of less than | ||||
1 ohm/metre (Ω.m) (deep brown in colour) on the sections extend to | ||||
a maximum depth of approximately 600m below the surface. The | ||||
cause of the anomalies may be massive sulphides (which can host | ||||
nickel and copper mineralisation) or possibly graphite (Figure 3). | ||||
A soil sampling program is now planned for the Central target, and | ||||
For | will commence this coming Thursday (17 March 2022). The objective | |||
of this program is to test for any nickel, copper and/or other mineral | ||||
anomalies at surface, which if present would support a drilling program to investigate if the AMT anomalies host mineralisation.
Commenting on the anomalies, Dundas Minerals managing director Mr Shane Volk said "the identification of these conductive anomalies at the Central Target is extremely rewarding, and testament to the exploration methodology that we have been following. We're now moving as quickly as possible to complete a soil sampling program across the area of these anomalies. Anomalous values for minerals such as nickel or copper from the soil survey would be extremely encouraging, and I'd expect to see us move as quickly as possible to drilling if this was the case.
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As far as we have been able to determine there has been no previous on-ground exploration conducted at the Central Target, or in the surrounding area. However, access is excellent as a track was cleared in 2010 for Norseman Gold PLC (tenement holder at the time), for a planned reconnaissance drilling program - but due to financial constraints the program never commenced."
onlyuse | ||||||
Figure 1: Cross Section line 11000 (see figure 4) showing modelled AMT data. The deep brown colour | ||||||
indicates areas of least resistivity (highest conductivity) | ||||||
NW | Surface | SE | ||||
personalFor | ||||||
Figure 2: Cross Section line 12250 (see figure 4) showing modelled AMT data. The deep brown colour | ||||||
indicates areas of least resistivity (highest conductivity) | ||||||
NW | Surface | SE | ||||
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Figure 3: Table of typical resistivity values for Earth materials
Central Target - modelled range of resistivity
use only | ||||||
ersonalp | 10500 | 636900063680006367000 | ||||
Figure 4: Left: Central Target showing location of planned AMT lines over interpreted SkyTEM conductors | ||||||
(shaded polygons), underlying image is gravity. AMT Lines 11000 and 12250 have been | ||||||
completed | ||||||
Right: Location of Central Target (colour image gravity, background magnetics) | ||||||
478000 | 480000 | 482000 | Central Target | |||
Completed AMT lines | (North- East prospect area) | |||||
orF | 11750 | 11000 | ||||
63660006365000 | ||||||
12250 | Matilda South | |||||
Prospect | ||||||
13250 | ||||||
6364000 | ||||||
478000 | 480000 | 482000 |
Authorised by: Shane Volk (Managing Director and Company Secretary)
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only
About Dundas: Dundas Minerals Limited (ASX: DUN) is a battery-minerals and gold focussed exploration company exploring in the highly prospective southern Albany-Fraser Orogen, Western Australia. Dundas Minerals holds 12 contiguous exploration licences (either granted or under application) covering an area of 1,201km2. All licences are 100% owned by Dundas and are located within unallocated Crown Land. The Albany-Fraser Orogen hosts the world-class Tropicana gold mine (AngloGold Ashanti ASX: AGG / Regis Resources ASX: RRL) and the Nova nickel mine (Independence Group ASX: IGO). The Dundas tenements are located ~120km south west of Nova, have not been subject to modern exploration and are deemed prospective for battery m aterials (nickel, copper and rare earths), and gold. Dundas Minerals listed on the ASX on 10 November 2021.
Capital Structure: Ordinary shares on issue (DUN): 60,180,216; ASX Listed Options (DUNO): 30,090,138 (Ex: $0.30, Exp 25-02-2024)
Unlisted Options: 3,000,000 (Exp. 2-11-24 Ex. $0.30); 4,000,000 (Exp. 1-7-24 Ex. $0.25 & $0.30); 5,000,000 (Exp. 1-7-26 Ex. $0.25 & $0.30); 2,000,000 (Exp. 10-11-26 Ex. $0.25 & $0.30)
COMPETENT PERSONS STATEMENTS
useThe information in this report relating to Exploration Results is based on information compiled by the Company's Technical Director, Mr Tim Hronsky, a competent person, and Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Hronsky has sufficient experience relevant to the style of mineralisation and to the type of activity described 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 Hronsky is a shareholder in the Company and a Director. Mr Hronsky consents to the inclusion in this announcement of the matters based on his information in the form and content in which it appears.
DISCLAIMERS AND FORWARD-LOOKING STATEMENTS
This announcement contains forward looking statements. Forward looking statements are often, but not always, identified by the use of personalwords such as "seek", "target", "anticipate", "forecast", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions.
The forward-looking statements in this announcement are based on current expectations, estimates, forecasts and projections about Dundas and the industry in which it operates. They do, however, relate to future matters and are subject to various inherent risks and uncertainties. Actual events or results may differ materially from the events or results expressed or implied by any forward-looking statements. The past performance of Dundas is no guarantee of future performance.
None of Dundas's directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy or likelihood of fulfilment of any forward-looking statement, or any events or results expressed or implied in any forward- looking statement, except to the extent required by law. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.
For
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Criteria
Sampling onlytechnique
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ForDrilling
technique
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Section 1 Sampling techniques and data
JORC Code explanation | Comments re Audio Magnetotellurics (AMT) | |
geophysical survey program | ||
Nature and quality of sampling (e.g. cut channels, A ground audiomagnetotelluric survey was completed by | ||
random chips, or specific specialised industry | Zonge Engineering and Research Organization Australia | |
standard measurement tools appropriate to the | Pty Ltd. 2 lines were completed at the Company's Central | |
minerals under investigation, such as down hole | prospect, the lines were spaced 1,200m apart with 100m | |
gamma sondes, or XRF instruments, etc.). These | station spacing and ~2,400m in length. | |
examples should not be taken as limiting the broad | MT Equipment used: | |
meaning of sampling. | • Receivers: Broad band Phoenix Geophysics MTU- | |
5A receivers, featuring 5 input channels and capable | ||
of recording in 10kHz-DC frequency range with 24-bit | ||
resolution and up to 24000 samples per second. | ||
• | Timing accuracy - +-100ns, with oven-controlled | |
crystal oscillatorsynchronized to GPS. | ||
• | Magnetic Coils: Induction Coil Magnetometer | |
MTC150L coils with 10kHz- 10000s range and | ||
25mv/nT sensitivity | ||
• | Electrodes: Pb-PbCl2 - copper sulphate ceramic |
pots for electric field, lownoise, nonpolarizing. Calibration
Each unit is synchronized with universal time clock trough the GPS PPS signal.
Readings | |||
• | Recording Unit: Recording at 10000 Hz | ||
Simultaneous recording of 2, 3, or 5 channels per | |||
instrument (electric, magnetic, or both) | |||
• Magnetic Coils: Frequency Band --> 0.0001 - 10000 | |||
Hz. | |||
• | Electrodes: non polarised Pb-PbCl | ||
Include reference to measures taken to ensure | Survey QC parameters were reviewed by independent | ||
sample representivity and the appropriate | supervising geophysicist from Western Geoscience Pty | ||
calibration of any measurement tools or | systems | Ltd. | |
used | |||
Aspects of the determination of mineralisation that | |||
are material to the Public report In cases where | |||
'industry standard' work has been done this would | |||
berelatively simple (e.g. 'reverse circulation drilling | |||
was used to obtain 1m samples from which 3kg | |||
was pulverised to produce a 30g charge for fire | |||
assay'). In other cases more explanation may be | |||
required, such as where there is coarse gold that | No drilling reported in this release | ||
has inherent sampling problems. | Unusual | ||
commodities or mineralisation types (e.g. | |||
submarine nodules) may warrant disclosure of | |||
detailed information. | |||
Drill type (e.g. core, reverse circulation, open-hole | |||
hammer, rotary air blast, auger,Bangka, sonic etc.) | |||
and details (e.g. core diameter, triple or standard | No drilling reported in this release | ||
tube, depth of diamond tails, face-sampling bit or | |||
other type, whether core is oriented and if so, by | |||
what method etc.). |
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Dundas Minerals Ltd. published this content on 15 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2022 22:17:02 UTC.