The Scimitar Copper Gold Prospect
We are excited to kick off the first drill program at the Reynolds Range Copper-Gold-Lithium Project. While the Scimitar Prospect is an exciting target, it is just the first step in a pipeline of targets that we plan to drill test at the Reynolds Range Project throughout 2025. The iTech team is currently taking advantage of this time in the field to conduct the next round of geophysics to tighten up a number of promising gold targets that we have been developing over the past 12 months.
For iTech shareholders, this all means there will be plenty of news flow to look forward to across our gold and copper prospects at a time of historically high prices.
HIGHLIGHTS
- Drilling has commenced on high priority Copper – Gold (Cu-Au) drill targets defined at the Scimitar Prospect, Reynolds Range, NT
- Multiple vectors point to a potential substantial Cu-Au mineralised system at Scimitar
- Regionally significant 5km x 4km multi element lag soil anomaly with elevated Cu, Au, Ag, Pb, Zn, Sb and As
- Coincident, high conductivity, MLEM anomaly extending over 1.6km
- Outcropping Cu-Ag-Au and Pb-Ag mineralisation in rock chips show fertile mineralising system extends to surface
WATCH: With gold prices reaching record highs and drilling commencing at our Scimitar Copper Gold Prospect, we have recently received a number of questions from shareholders specifically asking about our gold exploration strategy and if this marks a new direction for the company. In this latest ‘Ask iTech’, MD Mike Schwarz explains how our gold exploration program fits into the broader Copper, Gold, Antimony, and Lithium exploration efforts at the Reynolds Range Project. (3 min)
DETAILS
The Reynolds Range project consists of four granted Exploration Licences (EL23655, EL23888, EL28083and EL33881) and covers a total of 791km2 of the Aileron Province, part of the Paleoproterozoic North Australian Craton. The Project is located 90-230km NNW of Alice Springs with access available from the Stuart Highway and then the un-sealed Mt Denison road.
The Scimitar Copper-Gold prospect is a 1.5km long north-south trending high-grade Cu-Au soil and rock chip anomaly. Cu-Au anomalism is associated with sheeted quartz veining and alteration halos including As-Pb-Zn. The prospect is associated with a package of folded turbiditic sediments (Lander Group), surrounded by granitic units to the west and east. Local alteration around the Scimitar prospect includes chlorite, kaolinite, silica, sericite and pervasive iron staining. Malachite, pyrite, arsenopyrite and vein-hosted chalcopyrite closely associated with Au-Cu anomalism.
Prodigy Gold NL planned to drill test Scimitar based on several modelled Electromagnetic (EM) anomalies including a 2400 siemens plate incorporating a 480m x 400m area conducive with Cu and base metal anomalism and a weaker 500 siemens plate the south-east with Cu-Ag-Zn-Pb. Two initial drillholes were designed to test the source of these EM and geochemical anomalies with a follow-up DHEM survey to proceed afterwards. A 400m drill hole (SCDD2001), was completed at the smaller 500 Siemen plate. This identified a thin intersection of pyrite, pyrrhotite, sphalerite and galena at ~286m as the likely source of the Ag-Pb-Zn anomalism, however failed to identify the conductive source (ASX:PRX 29 Jan 2021). The stronger 2600S plate is yet to be tested due to rain constraints in the region at the time.
The tracks and drill pads were identified during a recent field visit, and locations marked, with good access remaining available to main drill target
RECENT NEWS FROM THE REYNOLDS RANGE PROJECT
Reynolds Range Lithium Project – Farm-in with SQM completed
Drilling Commenced At Scimitar Copper Gold Prospect
Ask iTech: The Long-Term Graphite Strategy Explained
