An airborne survey is planned to follow up on-ground confirmation of multiple outcropping pegmatites at western Yilgarn tenements
The pegmatites have the potential to host REE’s, Lithium and High Purity Quartz mineralisation
It is anticipated that the results of the survey will assist with further refining priority targets and new prospects
A busy pipeline of work is planned for Corella over the coming months
Special report: Corella Resources is planning a target-focussed airborne magnetics and radiometric survey over the northern part of the Tampu project where several pegmatite dykes have been documented in the field.
CR9 is setting out to conduct a high-resolution airborne magnetics and radiometrics survey over the northern part of the tenement package where a desktop re-interpretation of the project area highlighted a complex suite of intrusives and pegmatites with the potential to host REE’s, Lithium and High Purity Quartz.
This re-interpretation of the project geology was supported by field-based confirmation of the interpreted pegmatites in the region.
The survey will be critical in helping the company understand the geometry and abundance of the multiple generations of pegmatites which will be matched with their respective compositions.
It will be the first of its kind in the area and will provide unprecedented detail of this complex geological region.
Results of the survey will assist further refining of its existing targets and help identify new prospects, prior to follow-up in-field confirmation of rock types and prospects.
Corella Resources (ASX:CR9) flagship Tampu project in WA’s Wheatbelt region currently boasts a JORC compliant kaolin resource of 24.7Mt with an average yield of 50% for 12.2Mt @ 36.5% Al2O3 screened (-45micron) product suitable for sale as kaolin and as a feedstock for high-purity alumina (HPA).
Initial test work has already proven that Tampu mineralisation can be used to produce 5N HPA suitable for the battery and LED sectors.
A scoping study has also identified two development scenarios – a 200,000tpa kaolin production scenario that could generate NPV of $1.18bn and whopping IRR of 78.8% along with a 40,000tpa HPA option with estimated NPV and IRR of $4.62bn and 53.8% respectively.
Busy pipeline of work ahead
“The progress towards kaolin and HPA is progressing smoothly and complemented by some great results from our exploration work focussed on REE’s and pegmatites in the region,” CR9 CEO Jess Maddren says.
“I am thrilled with the identification of multiple large pegmatites in the region which helps CR9 progress its aims of delivering a portfolio of critical mineral projects to help support the transition to net zero by 2050.
“With so many positive results obtained from the recent field sampling, it was a logical “next step” to undertake a higher-resolution airborne magnetics and radio-metrics survey to help better define the geology in this high potential but underexplored area.”
Maddren says a busy pipeline of work is planned for our HPA-REE-pegmatite focussed projects over the coming months and I look forward to providing further updates on progress.
Survey to begin at the end of May
CR9 has engaged Thomsons Aviation to undertake an ~7970-line kilometre survey at spacings of 50m E-W lines with 500m N-S tie lines.
The survey will significantly increase the resolution of the existing datasets which currently consist of 200m flight line data available for public use from the Geological Survey of Western Australia (GSWA).
Based on the recent field work, the timing of the survey has been expedited and is anticipated to start by the end of May, with the final datasets available by the end of June 2024.
The geophysics, soil sampling and analysis program will be used to refine for drill hole targets for the 2024 exploration program and application for co-funding support through the exploration incentive scheme by DEMIRS in Q3 for drilling in Q4.
This article was developed in collaboration with Corella Resources, 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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