Voltaic Strategic Resources (ASX:VSR) get carbonatite conviction at Paddys WellOctober 20, 2023
A geophysical survey over Paddys Well has returned 16 potential rare earth and niobium prospective carbonatite intrusions and a new pipeline of high priority targets for Voltaic Strategic Resources and its wide-spanning Gascoyne landholdings.
Several sit close to the large, near-surface rare earth-enriched clay system identified at the Neo prospect area, and the new data has shown a significantly higher prospectivity for critical minerals across the entire 1300 square kilometre tenure.
Voltaic Chief Executive Officer Michael Walshe said that the geophysical data had strengthened the company’s conviction for carbonatite targets across Paddys Well, validated its expansion, and created a large pipeline of potential drill targets.
“The prior drilling and metallurgical testwork both indicated that the source of REE mineralisation at Neo was likely of carbonatite origin and the geophysical data corroborates this,” Mr Walshe said.
“Other companies in the region including Hastings Technology Metals and Dreadnought Resources have identified carbonatite-hosted REE’s which have been shown to have a high proportion of valuable ‘magnet’ REEs, and favourable metallurgical characteristics for economic extraction.”
“Furthermore, the data has significantly expanded the prospectivity for lithium, nickel, and copper via the identification of NE-SW fault structures / shear zones, and delineation of granitic bodies across the project area that were interpreted to be predominantly Lyons Group sediments.”
The new geophysical dataset also identified numerous fault structures prospective for mineral fluids and granitic lithologies which have upped the prospectivity for lithium across a large bulk of the Paddys Well landholdings, and Voltaic will soon have lithium assays in from the Ti Tree Project after lab delays.
There is not long left until years’ end but drilling of the new targets is still on the cards for Voltaic before Christmas, and the company has gotten field surveys and geophysical interpretations underway to ground truth the prospects and spot up more targets for its next campaign.
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