Volta completed the acquisition of the project in January (ASX announcement, 30 January 2014) and has commenced exploration at the project area, including preparations for the Company’s maiden drill program, which will target the Sirius Extension Prospect (E47/2606).
Exploration – Sirius Extension Prospect
Recently completed field work conducted by Volta, including a program of mapping and a rock chip sampling program, has confirmed the Sirius Extension Prospect’s potential to host high grade iron ore mineralisation. Bedded, haematite-goethite mineralisation hosted within a shaly BIF sequence, assigned to the Boolgeeda Iron Formation, can be traced trending west-north-west from the tenement boundary.
The mapping has confirmed the trend of mineralisation though the prospect area, and results from the rock chip sampling have returned DSO (Direct Shipping Ore) grades at surface, of up to 60.3% Fe (Refer Table 1 in Appendix A for full table of major elements and Figure 1 for rock chip sample locations and also planned drill hole locations). The upcoming maiden drilling program will be designed to, in part, confirm the existence and continuity of mineralisation at depth, as well as determining grade.
Planned Stage 1 Drilling – Sirius Extension Prospect
The Company advises that it is has completed preparations for the first phase of drilling at the Hancock Ranges Project.
Statutory approvals have been completed. Drill site earthmoving preparations are completed, and Volta expects drilling to commence shortly. Image 1 shows site preparation for one of the proposed drill holes.
The drilling programme is expected to take 1-2 weeks and Stage 1 will consist of 4 RC holes along the eastern tenement boundary (Refer Figure 1).
The objective of the drilling programme is to test the trend of hematite mineralisation into the Sirius Extension Prospect, confirming the existence and continuity of mineralisation at depth, as well as determining grade.
