Astute Metals and Fleet Space Begins Exploration at Georgina IOCG Project

Astute Metals NL has revealed the latest developments in exploration at its fully owned Georgina IOCG Project in the Northern Territory. Fleet Space Technologies has officially begun the Ambient Noise Tomography (ANT) geophysical survey on the Ranken tenement area, situated in the eastern part of the Georgina IOCG Project.

The Ranken tenements are located in an area highlighted by Geoscience Australia as highly prospective for sediment-hosted base metal mineralization. This is largely due to the basement geology, which includes McNamara and South Nicholson Group rocks. These geological formations are known to host several major base metal deposits in other regions, such as the world-class Mt Isa copper and zinc-lead-silver deposits, and the Century zinc-lead-silver deposit. This geological context underscores the potential for discovering significant mineral resources at Ranken.

Fleet Space will conduct a two-stage Ambient Noise Tomography (ANT) survey to assess the thickness of cover and investigate seismic velocity anomalies in the sub-cropping basement rocks. This survey aims to provide critical insights into the exploration potential for copper, silver, zinc, and lead at the Ranken tenements and will play a crucial role in planning future drill holes at the Georgina IOCG Project. The survey, which began earlier this week, is expected to conclude by the end of the month, with final data anticipated to be delivered to the Company in Q4 2024.

The Company has secured co-funding from the NT Government for a VTEM Max geophysical survey under Round 17 of the Geophysics and Drilling Collaborations (GDC) program. The grant, with a maximum value of $100,000, will support the VTEM Max survey in the western part of the Georgina IOCG Project. This helicopter electromagnetic survey is specifically designed to investigate sulphide-rich copper deposits across the majority of EL32282, enhancing the Company’s exploration capabilities in the region.

Iron Sulphide Copper-Gold (ISCG) deposits, a sulphide-rich subset of IOCG deposits, are particularly responsive to electromagnetic detection methods. Notable examples include AIC Mines Limited’s Eloise Copper Mine and Jericho Copper deposit in NW Queensland. The Company believes the surveyed area holds significant potential for mineralization that is amenable to direct detection. Additionally, the survey will examine several areas of interpreted alteration, which were identified as conceptual exploration targets in a 2021 SRK prospectivity review by the previous holder, Greenvale Energy. The survey is scheduled to start in mid-to-late September, with final results expected in Q4 2024.

Additionally, the drilling program at Leichhardt East has been postponed to November 2024, pending the necessary environmental approvals. This delay will allow the Company to integrate the latest geophysical data into its exploration strategy, ensuring a more informed approach to its drilling activities.