Auger geochemical sampling by ASX-listed explorer, Todd River Resources has outlined three zones with elevated levels of nickel-copper-platinum group element mineralisation at its 100 per cent owned Berkshire Valley project in Western Australia, 100 kilometres north of Chalice Mining’s spectacular Julimar discovery. The company says the zones cover some three kilometres of strike and are associated with a strong, complex magnetic feature interpreted to stem from mafic and ultramafic intrusions.
Todd River reports the levels of mineralisation within the anomalous zones stretch as high as 375 parts per million copper, 383ppm nickel, 41 parts per billion lead and 36ppb platinum. According to the company the elevated values are up to 10 times higher than the background value for each element.
The results from the south-west part of the Berkshire Valley tenure, along the ‘Western Trend’, represent the final batch of numbers from a recently completed auger geochemical sampling campaign at the project.
The company recently reported elevated platinum and palladium levels at the ‘Eastern Trend’ of the landholdings, extending the strike to more than seven kilometres length. The shallow extensional auger drilling outlined two distinct target areas along the mineralised trend.
Todd River is now set to kick off a thorough moving loop electromagnetic survey over the Eastern Trend to pinpoint drill targets. Air core and reverse circulation drilling to test geochemical anomalies and geophysical conductors at the tenure is also on the cards.
The proposed exploration work, including drilling, is projected to commence toward the end of October.
Berkshire Valley takes in about 270 square kilometres of acreage with target stratigraphy reportedly stretching for more than 40km of strike.
Todd River says the project shows geological and geometrical similarities to Chalice’s heralded Julimar discovery to the south.
Chalice has been the talk of the town since lighting up the market with last year’s discovery that returned 19 metres at 2.6 per cent nickel, 1 per cent copper, 8.4 grams per tonne palladium and 1.1 g/t platinum from 48m.
At Julimar, Chalice says it has since identified 11 high-grade mineralised zones along a 1.8km-by-0.9km area, with a further 24km of strike yet to be drilled. Its share price has surged from under $0.20 prior to the discovery to highs of more than $9 recently.
Elsewhere, Todd River reports it has wrapped up a reverse circulation drilling campaign at its Nanutarra nickel-copper-platinum group element project in the Western Gascoyne region of Western Australia.
Management says that thick zones of prospective rocks have been intersected in all holes with assays from the drilling due soon.
The company is earning up to 80 per cent in the project by spending $2 million over a 3-year period.
Todd River’s list of nickel-copper-platinum group element targets at Berkshire Valley continues to grow and all eyes will be firmly fixed on the Perth-based explorer as the rods start turning in the coming weeks.
Is your ASX-listed company doing something interesting? Contact: matt.birney@businessnews.com.au
By Matt Birney
