iTech Minerals (ASX:ITM) eyes untested EM conductor beneath high-grade polymetallic zone at Reward Prospect

iTech Minerals (ASX:ITM) has delivered a promising exploration update from its 100 percent owned Reynolds Range Project in the Northern Territory, where recent geophysical surveys have defined a compelling new electromagnetic (EM) conductor beneath high-grade polymetallic mineralisation at the Reward Prospect.

With rock chip samples returning standout copper, gold and silver values, and geophysical data highlighting a 1.3-kilometre-long EM anomaly that strengthens to the northwest, the company is preparing to advance exploration across several high-potential targets in what could become a new mineralised district.

Managing Director Mike Schwarz shares insights on the significance of these developments, how they fit into iTech’s broader strategy and what comes next.

What make the newly identified EM target at the Reward Prospect so compelling?

The recent moving loop electromagnetic survey we conducted at the Reward Gold Prospect has revealed a continuous and well-defined anomaly situated beneath known high-grade surface mineralisation, extending for more than 1.3 kilometres, and growing stronger towards the northwest.

The conductor also extends beyond the end of our recent survey, so it has significantly expanded the exploration space at the Reward Prospect.

The other key factor that gives us considerable encouragement is that the anomaly coincides with historical workings and surface rock chip results that have contained high grades of copper, silver, and gold.

What is particularly exciting, though, is that we have now modelled up our new geophysics, along with all of the available historical drilling data, and we can see that previous explorers only tested the area down to 60-70 meters, likely missing the deeper mineralisation that could explain the conductivity we are now seeing.

“What we are seeing at Reward is exactly the type of opportunity that gets an exploration team excited because the moving loop electromagnetic (EM) survey has delivered a clear and coherent conductor sitting directly beneath known surface mineralisation.”

So this new survey has defined a high-priority drill target that we will look to test later this year.

How do the recent rock chip results support your exploration model for Reward?

iTech Minerals exploration team has spent the last 12 months conducting a systematic rock chipping and sampling program right across the Reynolds Range Project.

At Reward, we got some really good results, with rock chip assays showing copper grades up to 19.6 per cent, gold as high as 12 grams per tonne and silver exceeding 2,000 grams per tonne.

Importantly, we are seeing mineralisation not just confined to quartz veins but also in the surrounding wall rock, which is consistent with larger-scale systems such as volcanic massive sulphide (VMS) or SedEx deposits.

These results give us confidence that the conductor we have identified deeper down is likely to be related to the same mineralising processes that produced these high-grade surface samples.

“The rock chip results we’ve recently received have been genuinely outstanding and they play a critical role in strengthening our exploration model for the Reward Prospect.”

Historical explorers targeted Reward as a copper prospect, but we believe it has significant potential to be a structurally hosted gold deposit with credits in copper, silver, and lead.

Why has the area northwest of the historical workings become the focus for future drilling?

The new geophysical data is directing our focus to the northwest of the historical workings because that is the area where we can see the strongest EM response.

It is also a zone that is completely untouched by previous explorers which makes it an exceptional exploration opportunity.

So our plan is to target this north-western extension in our upcoming drilling program because we believe it holds the greatest potential for a discovery.

“The reason we are focusing so much attention on the area to the north-west of the current Reward workings is because the data is clearly leading us there, and it represents a rare case of high-quality ground that remains completely untested.”

What are the next steps for iTech Minerals at Reynolds Range?

We are in the process of completing an extensive geophysical program across the Reynolds Range Project, which covers several gold prospects, including Reward, Pine Hill, Sabre, Falchion, and Lander.

The aim of the program is to generate a clear pipeline of drill ready targets supported by the best available geophysical and geochemical data.

Once the survey data is fully assessed, we will prioritise the highest ranked targets and commence drilling later this calendar year.

“Our team is extremely motivated because we have the right mix of compelling targets, technical expertise and strategic vision to give ourselves the best possible chance of success as we move into this next exciting phase of exploration.”

With a portfolio of highly prospective ground, strong technical foundations, and a clear exploration strategy, we are well positioned to advance the Reynolds Range Project and potentially deliver a new mineral discovery for our shareholders.

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