Ark Mines Ltd (ASX: AHK) has successfully completed a drone magnetic survey undertaken at its Gunnawarra Nickel-Cobalt Project (EPM 26560) in North Queensland.
The company says the survey has confirmed a strong correlation between the proven Nickel-Cobalt laterite mineralisation across the project and the magnetic highs identified.
Executive Director, Ben Emery, Gunnawarra has significant potential as a battery mineral exploration and development project in a proven Tier 1 jurisdiction for similar projects. It surrounds the Bell Creek resource, a component of the Sconi project owned by Australian Mines Limited (ASX: AUZ), the most advanced Cobalt-Nickel-Scandium project in Australia.
“The UAV magnetic survey confirms that the Nickel and Cobalt laterite mineralisation present across Gunnawarra correlates with the magnetic highs identified from the survey,” Mr Emery said.
“This is tremendously encouraging and confirms to us that Gunnawarra is shaping up to be a very exciting and potentially large battery minerals play. We are now defining priority drill targets and we anticipate being on the ground later this month with drill likely to commence in April or May, weather depending.
“With Gunnawarra as well as our Mt Jesse project, Ark has exposure to three high demand battery mineral commodities that are critical for the growth and development of the EV sector – nickel, cobalt and copper.
“Our focus now is to determine the full extent of these mineralised systems with more comprehensive exploration so we can capitalise on the huge potential of the EV and clean energy sectors.”
Ultramag results
Ultramag Geophysics was engaged to undertake a high spatial resolution drone magnetic survey across Gunnawarra’s 36 sq. km tenure.
The company used unmanned aerial vehicles which provides comparable resolution at 10x the speed and a quarter of the cost of traditional methods.
The results from the survey were of excellent quality with high resolution data providing Ark with a clear and detailed aeromagnetic image of the project.
The magnetic highs are shown to coincide exceedingly well with the Nickel-Cobalt laterite deposits at surface and in the underlying ultramafic geology.
With definitive outlines of the Nickel-Cobalt mineralisation surface and under surface locations confirmed, Ultramag has recommended several drill targets areas identified in image two below. In addition, serpentinites and ultra-mafic basement rocks have given a strong signature which provides Ark with further exploration opportunities.
The advancing exploration program Gunnawarra is part of Ark’s plan to aggressively ramp up exploration activity across its tenements, which includes finalising drill targets at the company’s Mt Jesse Copper-Iron project. Drilling contracts are now being assessed before the Company advances a detailed drilling programme.
Targets
· The gridded TMI image show a large magnetic high anomaly (A) trending north- south through the central portion of the survey outlined in yellow. This is the main structure identified in the survey. We are confident these tops are accurate to within a few metres.
· (A) has two main highs (B) and (C) to the north
· All of these highs appear to be cross-cut by ENE to NE trending linear features which add complexity to the interpretation and may offer further mineralisation potential, particularly at intersections of lineations and mag high edges.
· The other two important features in this area include the mag lows (D) which juxtapose the main feature (A). These show up best in TMI but wash out in RTP.
· To the far northwest, there is another mag high structure on the northern side (G) as well as a mag low (G) on the southern side. This structure also offers a secondary target.
For further information please visit: https://www.arkmines.com/
