Argonaut Resources NL (ASX:ARE) has started drilling an initial drilling program of four to five holes at the Smith Dam-1 gravity anomaly of the Murdie Project in South Australia targeting iron-oxide-copper-gold (IOCG) mineralisation.
The first hole will be drilled to a depth of approximately 1,100 metres with the overall program expected to take 23 days to reach the top of the targeted body and 28 days in total to complete the hole.
Argonaut plans to drill test Smith Dam-1 and Smith Dam-2 first before prioritising other targets depending on the results.
Efforts focused on West Lake anomaly
The Murdie exploration licences cover two large-scale, regional gravity anomalies – West Lake Torrens and Murdie over an area of 1,015 square kilometres.
These anomalies represent locations with significant volumes of high-density rock that could contain economic IOCG deposits.
Efforts are being focused on the West Lake Torrens anomaly with around seven ‘excellent’ targets having been identified.
Judicial review application
The Barngarla Determination Aboriginal Corporation RNTBC has filed an application in the South Australian Supreme Court for a review of the authorisation announced to the ASX by Argonaut on January 4, 2021.
Argonaut notes that there are no registered Barngarla heritage sites at Lake Torrens and exploration works being undertaken at the Murdie project have been duly authorised.
The company is confident that the State’s authorisation process was robust.