Plutonic’s IP survey has identified several very large and strong chargeability anomalies at the I’m Not A Vampire prospect
Anomalies make up a coherent anomalous zone ~5km wide, 1km long and 800m deep
Chargeability highs are associated with very low resistivity zones
Special Report: Pre-IPO explorer Plutonic’s belief in the prospectivity of its Champion project within the Simpson Desert in the Northern Territory has been boosted by a successful commencement of an induced polarisation survey.
The company believes that 6500km2 Champion project is a misunderstood structural corridor of intense metallogenic importance that could host copper-gold mineral systems on a massive scale.
According to Plutonic, the project’s porphyry-epithermal system could generate systems comparable or larger in scale to endowment of gold and copper at the Olympic Dam deposit in South Australia.
It noted that that the potential mineral system has an extent of up to 4500km2 and that early-stage exploration including airborne hyperspectral surveying, geochemical modelling, rock chip sampling and structural groundwork all point to a vast consistency in the extent of the mineral system(s).
This suggests that should mineralisation be found, it could extend across an enormous scale, essentially creating a new mining district. At this point, efforts in the field have focused only on a 1500km2 portion of the project.
IP survey offers glimpse at Champion potential
Plutonic’s second IP survey line at the ‘Greater I’m Not A Vampire’ prospect has identified several very large and very strong (up to 50mV/V) chargeability anomalies.
Collectively, these anomalies make up a coherent anomalous zone ~5km wide, 1km long and 800m deep with individual anomalies that extend from near surface to the bottom of the model.
IP surveys are a geophysical method used extensively in mineral to measure the electrical chargeability and resistance of underground rocks and potential ores.
Adding interest, the chargeability highs are associated with very low resistivity zones and moderate to low transition zones in the resistivity data, which is interpreted to be strong alteration.
There also appears to be no lithological control on the chargeability or resistivity data. These anomalies can sometimes be due to lithological control, which in this case has not occurred, drastically increasing the chances of mineralisation being the cause of the anomaly. A mineralised area of this size would easily extend into the billions of tonnes.
The results of the IP will undoubtedly play no small role in supporting Plutonic’s plan to carry out an IPO next year.
This article was developed in collaboration with Plutonic, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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