Epm 16142 Toolebuc Project
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EPM 16142 TOOLEBUC PROJECT FINAL REPORT th 30 April 2009 Author: A. Bowden Tenure Holder: Mt Isa Metals Ltd Date of Report: 30 April 2009 Contents 1. Summary .................................................................................................................................................... 3 2. Introduction ............................................................................................................................................... 4 3. Geology ...................................................................................................................................................... 5 4. Summary of Historical Exploration ............................................................................................................ 7 5. Work Completed During the Reporting Period ......................................................................................... 8 6. Bibliography ............................................................................................................................................... 9 7. Copyright Statement ................................................................................................................................. 9 List of Figures Figure 1: Tenement Location. ............................................................................................................................ 4 Figure 2: Tenement Geology (GA 1:250k Province GIS series). ......................................................................... 6 Digital Data No digital data. Page 2 1. Summary Application for EPM 16142 was lodged on 13 February 2007, together with five other applications and one granted mineral exploration permit within the broader Julia Creek – Hughenden region. Combined the tenements comprise Mt Isa Metals’ Toolebuc Project. EPM 16142 was granted to Mt Isa Metals Ltd on 24 October 2007. The first annual report for EPM 16142 covered the period from 24 October 2007 to 23 October2008. rd No further work has been carried out on this tenement between 23 October 2008 and the date of this final report. The Toolebuc Project focused on the discovery of two principal deposit types: 1. Secondary uranium mineralisation–potentially developed by leaching of uranium from primary Polymetallic deposits with transport and precipitation in to proximal permeable Lithologies to the Toolebuc Formation. 2. Polymetallic mineralisation – believed to be evidenced by regional molybdenum ‐ lead ‐ zinc ‐ uranium anomalism in historical datasets. Activities since granting of the tenement have focused on compilation of historical third party exploration reports and compilation of regional datasets. A regional desk ‐ study assessment of all the tenements within Mt Isa Metals’ Toolebuc project was undertaken in 2008 with the objective to prioritise field activities during 2008‐2009. The result of the review and analysis of available data downgraded the potential of the area for roll front type uranium mineralization. The potential for economic polymetallic mineralization was considered to be low with the consequent decision to relinquish the tenement. No field work was carried out during Mt Isa Metals’ tenure. 2. Introduction EPM 16142 was granted to Mt Isa Metals Limited (MET) on 24 October 2007 and comprises 93 sub‐blocks. Summary tenure details for EPM 16142 are provided below: Tenement No. Grant Date Term No. of Sub‐Blocks EPM 16142 24 October 2007 5 years 93 Table 1: Summary Tenure Details. EPM 16142 is located 21km north‐northwest of the township of Hughenden. The tenement is one of seven tenements which comprise Mt Isa Metals’ Toolebuc Project. Access can be gained via the Flinders Highway which runs parallel to and 9Km south of the southern boundary of the tenement and then via unsealed county roads and property tracks. The tenement location is shown in Figure 1. Figure 1: Tenement Location. Page 4 3. Geology Regional Geology The Toolebuc Project tenements are located on and around the northern margin of the Eromanga Basin, a sub basin of the Great Artesian Basin, which consists of a number of thick sequences of non‐marine and marine sedimentary units. The basin was developed as a major down warp on a basement of Proterozoic to Palaeozoic metamorphic and igneous rocks during the Jurassic to Cretaceous. Deposition within the Eromanga Basin of fluvial sandstones of the Hutton Formation as a consequence of down warping of the basement commenced in the early Jurassic period. These Jurassic sandstones are the main aquifers of the Great Artesian basin. Further fluviatile, lacustrine, and possibly deltaic sedimentation, continued at the end of the Jurassic. Marine transgression during the Cretaceous period resulted in deposition of the Rolling Downs Group sediments in a shallow marine to paralic setting. Formational units of the Rolling Downs Group include the basal Wallumbilla Formation; composed of mudstone and siltstone from the Doncaster Member, the Jones Valley Member and the Ranmoor Member; overlain by the calcareous bituminous shale, limestone and coquinite of the Toolebuc Formation; and the upper Allaru Mudstone. Following marine regression lithic sediments were deposited above the Rolling Downs Group. Tertiary basalt and minor sandstone units unconformably overlie the Cretaceous sediments. Thin Quaternary alluvium covers much of the region. Minor metalliferous mineralisation recorded in the region includes gold associated with quartz veins, has been exploited at small scale prospects 200 Km northeast of Hughenden and 90 Km northwest of EPM 16142 on the edge of the Etheridge Province. Alluvial deposit and deep lead conglomerate prospecting for gold has occurred at several locations proximal to the edge of the basalt outcrops. Economic quantities of the target deposits styles (sedimentary uranium mineralisation) have not been identified in the Toolebuc Project region to date. Local Geology The oldest lithology within EPM 16142 is represented by the Cretaceous Ranmoor Member mudstone which occurs throughout the north –north eastern half of the tenement area. Discontinuous and younger Toolebuc Formation outcrop lies in an east ‐ west band in the central western portion of the tenement. The younger Cretaceous Allaru Mudstone overlies the Ranmoor Member and Toolebuc Formation to the south. This section of the Cretaceous sequence has formed in the northern rim region of a shallow southerly dipping basin. Tertiary to Quaternary Woondoola Beds of unconsolidated sand, conglomerate and friable sandstone cover the area of the north western tenement boundary. The geology of the tenement area sourced from GA 1:250k province series is presented in Figure 2. Wallumbilla Formation ‐ Ranmoor Member The Ranmoor Member forms a featureless soil plain to the north and is reportedly separated from the Allaru Mudstone and Toolebuc Formation by a low scarp. It is characterised by chocolate‐brown to black soil cover and lack of any resistant soil residuals. Occasional beds of gypsum, up to 1m thick, occur close to the contacts with the Toolebuc Formation and Allaru Mudstone. Page 5 Cuttings of the Ranmoor Member from drill holes were described as a grey to chocolate‐brown mudstone with or without traces of gypsum. The distinctive colour change in the mudstone cuttings appears to be the main criterion available to tentatively divide the Ranmoor Member from the Allaru Mudstone. Toolebuc Formation Only a small area of Toolebuc Formation occurs in the tenement and differentiation from the topographic rises of the Allaru Mudstone on satellite image is difficult. Outcrop is reportedly very poor, consisting of coquinite and interbedded black carbonaceous and bituminous shale with minor siltstone. No interbedded crystalline limestone is reported though limestone concretions are recorded to occur around the margins of outcrops. No shaly limestone was recorded beneath the coquinite from drilling. North‐ south traverses across the direct contact between the Allaru Mudstone and the Ranmoor Member failed to locate Toolebuc Formation indications and it was concluded that the Toolebuc Formation has no eastwards extension along strike (Kennecott Explorations Pty Ltd, G. Williamson, 1967). Allaru Mudstone The Allaru Mudstone occurs over the southern part of the tenement and is typified by its greenish‐brown soil colour and numerous concretions of silty impure limestone. The concretions are reportedly fossiliferous with a variety of mollusc fauna occurring as casts and large platy pelecypol shells similar to those found in the Toolebuc Formation have also been noted. Where this lithology is non‐concretionary the outcrop is reportedly very poor. Allaru Mudstone from drill hole cuttings has been described as a yellow‐brown to grey mudstone with traces of gypsum. Figure 2: Tenement Geology (GA 1:250k Province GIS series). Page 6 4. Summary of Historical Exploration A large number of companies have explored in the district within and around the MET’s Toolebuc Project tenements. The principal focus has been oil shale, vanadium and gypsum exploration. Minor exploration activity has also been directed towards copper and gold exploration with no activity reported on uranium exploration. Prior exploration activity has not identified any prospective uranium, gold, copper or base metal anomalism in the tenement area. The oil shale located was considered to be uneconomic. A summary of companies that have previously held tenure and completed field work within the current EPM 16142, Toolebuc Project, together