Lucapa reports promising base metals targets at Merlin diamond project
Australia's Lucapa Diamond Company said on Tuesday that it had identified two large, highly conductive base metal targets at its Merlin diamond project in the Northern Territory.
The findings are the result of the first geophysical survey conducted at Merlin in 25 years and highlight the project's potential for mineral discoveries.
The targets were identified through a helicopter-borne time-domain electromagnetic survey that covered the 234 km² project area, including the Merlin mineral lease and the surrounding exploration licence. These targets occur along structures in proterozoic sediments, sharing striking similarities with the geology of the world-class McArthur River zinc/lead mine, located 50 km to the north.
“These are highly promising results in an area which has never been exposed to the latest geophysics technology and which sits just 50 km from the giant McArthur River zinc/lead mine. Given the highly prospective nature of the targets identified, we are already considering the next phase of exploration," said Lucapa MD Alex Kidman.
The McArthur River mine, operated by Glencore, is one of the largest zinc/lead deposits globally, producing more than 250 000 t of zinc, 50 000 t of lead, and 1.2-million ounces of silver a year. The geological structures hosting this deposit extend into the Merlin project area, raising expectations for similar discoveries.
The Merlin area's suitability for electromagnetic surveys, owing to limited conductive cover, has enabled the identification of these targets. Lucapa plans to proceed with ground-based geophysical surveys to further define the newly discovered targets and refine exploration efforts.
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