Significantly, the 4x3 kilometre intrusive body identified is coincident with surface copper-nickel-cobalt anomalism.
Stefan Murphy, managing director, said: “These results have opened up immense new potential at Mt Venn and could prove to be a game-changer at every level.”
The gravity survey was initiated following positive exploration results from Mt Venn where extensive copper-nickel-cobalt sulphide mineralisation has been delineated over several kilometres.
Due to the highly encouraging results, exploration will now be fast-tracked over this area, commencing with an extensive aircore program and airborne electromagnetic survey.
Associated with the Eastern Mafic complex
The intrusive body is associated with the Eastern Mafic intrusion located 7 kilometres from the Mt Venn complex.
Previous exploration on the Eastern Mafic complex was limited to shallow rotary airblast drilling for gold with no analysis for base metals or bedrock geochemistry.
Murphy also said: “From limited sampling completed over the Eastern Mafic complex, we can see distinct mafic units with evidence of nickel-copper depletion and a separate suite of mafic rocks with elevated nickel-copper-cobalt and magnesium oxide.
“This geochemistry provides evidence the Eastern Mafic complex is part of the broader Mt Venn complex, but located in a different setting.
“The results of the gravity survey have shown we are in a much larger system than previously thought, with the Eastern Mafic complex potentially representing an earlier-stage conduit or feeder structure that is prospective for nickel sulphide mineralisation.”
Aircore drilling to start as soon as possible
Given the exploration potential, an extensive aircore drilling program will start as soon as possible.
Planning is also underway for an airborne EM survey of the Eastern Mafic complex.
Diamond drilling and metallurgy also to commence
In addition to the new work programs, diamond drilling will shortly commence at Mt Venn.
Metallurgical test work is also underway with the first flotation tests to produce a copper concentrate.