Santa Fe Minerals Ltd (ASX: SFM) has commenced a Reverse Circulation (RC) drilling programme at its Watsons Well Vanadium-Titanium-Iron target in Western Australia.
It is expected the programme will take one to two weeks to complete. Results will be reported late in the December quarter once analytical data is received.
Watsons Well Background
The seven km long Watsons Well magnetite high zone was first identified in the 1960s and 1970s. It was interpreted as a possible feeder dyke to the Windimurra igneous complex and subsequently explored for nickel – copper – PGE mineralisation by various companies, including WMC. Programs of broad spaced soil and lag sampling identified nickel, copper, and PGE values consistent with the interpreted underlying rock types. There were no standout targets, and no additional work was completed.
Mapping in 2015 identified magnetite cumulate layers in anorthosite associated with broad areas of anomalous vanadium (3000ppm to 6870ppm, WMC sampling, 2004) supporting an alternative interpretation that the Watsons Well magnetite high zone is a faulted offset of the Shepherds Discordant Zone that hosts the large Windimurra Vanadium deposit.
SFM completed additional close spaced lag sampling and rock chip sampling over the central part of the Watsons Well zone returning V2O5 grades up to 1.64%.
Subsequent mapping and rock chip sampling identified massive magnetite cumulate layers over 5km of the 7km strike with high grades of 1.18% to 1.33% V2O5, 9.97% to 15.2% TiO2 and 44.12% to 52.74% Fe.
The magnetite layers range up to about 1m thick and appear in outcrop to be semi continuous along strike similar in appearance to the mineralised zones at Windimurra.
RC Drilling Programme
An RC drilling programme of 10-15 holes for 1,500m – 2,000m is planned to test the thicker central area of the 7km long Watsons Well high magnetic zone adjacent to rock chip samples that returned 1.2% – 1.3% V2O5, 13% 15% TiO2 and 50% to 52% Fe.
Two sections of holes will be completed 400m apart with all holes to be drilled angled at -60 degrees to the east to a nominal depth of 150m.
For further information please visit: https://www.santafeminerals.com.au/
