DUNDAS MINERALS LIMITED Dundas Minerals Limited is actively exploring for nickel, copper and gold in the prospective Albany-Fraser Orogen, Western Australia. On 11 October 2022, Dundas Minerals announced a 358m intercept of massive, semi-massive and disseminated sulphides (predominantly pyrite) in the first drill hole of a ~2,000m diamond core drilling program at its Central exploration target. As sulphides were logged in a majority of the drill core recovered from the 423.4m deep hole, samples were taken across the entire hole and submitted for assay.
A second drill hole (to 603.4m) was completed towards the end of October 2022. Samples were taken from intersections of this hole, where visual sulphides (pyrite and pyrrhotite) were logged. Assay results for the two holes 22CEDD001 (Hole 1) and 22CEDD002 (Hole 2) have now been received.
The assays have not returned intervals of significant mineralisation. The results are not in line with the Company's expectations, which were derived from in-field logging and pXRF readings of the drill core. Recently appointed independent geologist Grant "Rocky" Osborne is working with the Company to advance its understanding of the geology at Central and its relationship to assay results.
Multiple work streams have been initiated, and include: Hyperspectral logging of the drill core from 22CEDD001 (Hole 1). Scanning of the drill core is complete, and the analytical report is expected to be available by mid-December 2022. This data will assist to more accurately define the rock types and alteration intersected in Hole 1; Hole 1 drill core is being re-logged in its entirety by Grant Osborne.
This logging, combined with the hyperspectral scan information will assist in determining the intersected geology; Independent three-dimensional (3D) modelling of the audiomagnetotellurics (AMT) data from the two AMT survey lines completed at Central has been commissioned. Independent 3D modelling of the three AMT survey lines completed at Matilda South has also been commissioned. The 3D modelling of this AMT data, combined with down-hole electromagnetic (DHEM) survey data (see below), is expected to assist in the final design of drill holes to test the deep (~400m600m below surface) AMT anomalies at Central, and the design of drill holes to test the Matilda South AMT anomalies.
Neither of the AMT model anomalies at Central has been effectively tested by drilling to date. Co-funding to a maximum of $220,000 is available to Dundas Minerals to drill two diamond holes at Central under the Western Australian Government Exploration Incentive Scheme (EIS), which the Company intends to utilise in 2023. As announced on 1 December 2022, DHEM surveys will be completed in up to four of the diamond drill holes at Central.
This survey data will assist to target the AMT anomalies more precisely, plus identify other off-hole EM conductors as possible future drill targets; and Detailed geochemical statistical analysis of the 48 element assay results (4-acid digest) and the 3 element fire assay results (Au, Pd and Pt) from all drill holes will be undertaken. Dundas Minerals is sufficiently funded to complete its 2022/23 drilling program at Central, the planned drilling program at Matilda South, plus further drilling (or other exploration activities) during 2023. Drill hole 4 (22CEDD004), is currently at a depth of ~470m.
The hole is planned to finish this coming weekend, then PVC casing will be installed in preparation for a DHEM survey. Drill hole 5 (22CEDD005) is planned as the final hole to be drilled in 2022. Drilling will commence as soon as the casing of Hole 4 has completed.
Hole 5 will test the margin of an interpreted intrusive (mafic-ultramafic) based on three-dimensional (3D) modelling of a moderate to strong magnetic anomaly. The hole is planned for a maximum depth of ~350m and is expected to be completed during the week commencing 12 December 2022, after which drilling and support crews will demobilise for the Christmas /New Year period. Drill testing of one, or both, of the Central AMT anomalies is now planned for January 2023, as results from the DHEM surveys are required to finalise drill hole design.
A maiden drilling program to test the interpreted mafic-ultramafic intrusive at Matilda South by reverse circulation (RC) drilling is planned for quarter 1, 2023. This drilling program is also co- funded under the WA Government EIS scheme, to a maximum of $180,000 for up 4 RC holes to a depth of ~400m. Drill hole designs will be finalised once the results from the independent 3D AMT modelling has been received and considered alongside other geophysical data.
Assay results from the first two drill holes at Central have not returning mineralised intersections, however this needs to be put into context that exploration at Central is still in its infancy, with the understanding of geology evolving. Information from drill holes 3, 4 and 5, the completion of the work streams that are currently underway, and a satisfactory test of one (or both) of the resistive (highly conductive) AMT anomalies are all required before an updated assessment of the exploration opportunity can be made. This is not expected until late in the first quarter of 2023.
The Central exploration target is a series of electromagnetic (EM) anomalies stretching across an area of more than 12km. Central is a compelling exploration target because of the volume of sulphides so far encountered in drilling; the amount of alteration and interpreted hydrothermal activity logged in drill core; the modelling of gravity anomalies with densities that match mafic-ultramafic rocks; gravity anomalies coincident with magnetic anomalies (Hole 5 is planned to test one of these anomalies); and the two extremely resistive (highly conductive) AMT anomalies, neither of which has been satisfactorily tested by the drilling program to date.
