Three Ways Project, Ground Electromagnetic Survey Validates Conductors for Follow-Up Drilling

Recent trials of moving-loop, ground electromagnetic surveying (MLEM) across four separate high conductance magnetotelluric (MT) anomalies have refined targets for follow-up drilling.

Modelling of data from the MLEM method has identified six high conductance plates which remain to be drill tested. The modelled plates returned high conductivity thickness values ranging from 6,000 to 30,000 siemens, which are typical of responses from accumulations of sulphides or highly graphitic bodies.

Drilling last year on two broad, high conductance MT targets (TWD2001 and TWD2002) intersected mafic intrusive rocks (gabbro and dolerite) that did not clearly explain the source to these anomalies. However, a narrow zone containing semi-massive pyrrhotite veins in drill hole TWD2001 returned anomalous levels of nickel, copper and platinum group elements that provided encouraging indications of prospectivity (refer to Red Metal ASX announcement dated 28 January 2021).

Modelling of the new MLEM data across TWD2001 allowed the identification of two, shallow dipping, strong conductive plates immediately west and east of its collar that remain to be drill tested. In addition, modelling of the MLEM data over drill hole TWD2002 suggests it stopped short of an east dipping conductor.

Ground electromagnetic surveying across a separate low-amplitude, magnetic anomaly on line 7899600N identified a west dipping plate with a very high modelled conductance value of 30,000 siemens. This anomaly is yet to be tested by drilling.

A rig has been secured and preparations for drilling in early June are underway.
The Three Ways program is funded by OZ Minerals (ASX: OZL) under the terms of the Greenfields Discovery Alliance.

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