Monax 100% - EL 3357
Tanami style orogenic lode gold and Broken Hill-Mt Isa style base metals.

The Waddikee project area has potential for orogenic lode gold and Broken Hill-Mt Isa style base metal styles of mineralisation. The  tenement is well serviced by existing rail and road infrastructure, including the Cummins - Buckleboo railway which connects the tenement to a number of deep water ports along the coast.  In addition OneSteel’s steel making operations are 100km to the east at Whyalla.

Iron ore & manganese potential

A rock chip sampling program conducted in early 2008 identified a number of hematite prospects within the tenement.  Samples returned highly encouraging Iron, Manganese and Vanadium results with maximum values of 60.1% Iron, 43.8% Manganese and 1.13% Vanadium oxide.

A 2955 m RC drilling program was conducted at the Jamieson Tank and Pollinga manganeses prospects in June 2008, with assay results confirming the presence of manganese mineralisation in all eight traverses at the Jamieson Tank Prospect and Pollinga Prospect and much higher than expected results for iron.

For further information, view the Manganese and Iron Ore information sheets.

Manganese

Jamieson Tank Prospect

The Jamieson Tank Prospect in the south west of the tenement consists of a 10 km strike length of banded iron formation (BIF) of the Lower Middleback Jaspilite. Manganese mineralisation occurs along strike parallel bands on either side of the BIF sequence. Mapping of the Jamieson Tank Prospect has identified scattered float of highly manganiferous ironstone over a strike length of 5 km. Rock chip samples assayed up to 44% Mn with low phosphorous levels of 0.02 to 0.06%.

Iron

Bunora Siding

Rock chip samples up to 55% Fe have been collected over an area of 3.5 km by 1.3 km at the Bunora Siding Prospect. The prospect occurs within and adjacent to BIF of the Proterozoic Hutchison Group Metasediments. Mineralisation appears to be controlled by a north easterly cross cutting fault. The Cummins-Buckleboo railway passes through the middle of the prospect.

Lambell Prospect

Rock chip samples up to 60% Fe have been collected over an area of 1.5 km by 0.75 km at the Lambell Prospect. The prospect occurs within a similar geological environment to the Bunora Siding Prospect. One sample at this prospect assayed 1.13% V₂O₅.

Kelly Tank Prospect

Rock chip samples up to 58% Fe have been collected over an area of 1 km by 0.5 km at the Kelly Tank Prospect. The prospect occurs within and adjacent to BIF of the Proterozoic Hutchison Group Metasediments which can be traced for over 13 km to the north and south of the prospect.

Gold potential

Structures within the project area were active at the time of Hiltaba Suite granite emplacement (interpreted source of gold bearing fluids). The orientation of these structures are sympathetic to producing zones of structural dilatancy and potential trap sites for orogenic lode gold mineralisation.

Waddikee geological interpretation

The structures intersect reactive lithologies, e.g. carbonates, iron formations, graphitic schists, which are also sites for chemical precipitation of gold.

Silver-lead-zinc potential

The area hosts a package of Proterozoic chemical and pelitic metasediments deposited in a rift system on Archaean and Proterozoic basement, similar to Mt Isa and Broken Hill.

Waddikee geochemistry on magnetics

Anomalous base metal mineralisation is widespread throughout the Hutchison Group rocks, which are prominent in the area.

Soil, rock chip and calcrete sampling will be undertaken over prospective areas. Results will be interpreted in conjunction with recently acquired detailed aeromagnetic and gravity data to define drill targets.