Muckanippie
Project

On this page:

• Muckanippie Titanium Project
• ‘Sturt’ Licence Area – Gold – Platinum Group Metal Prospectivity
• ‘Sturt’ Licence Area – Vanadium-Titanium-Magnetite-Phosphate Potential
• Gold Potential

The Muckanippie Project comprises a total project holding of 645km² located in the northern Gawler Craton of South Australia, which is prospective for a range of minerals including heavy mineral sands (HMS), titanium, vanadium and gold.

Muckanippie Titanium

In September 2024, PTR discovered high-grade titanium rich HMS at its Muckanippie Project area southwest of Coober Pedy in South Australia (Figure 1).

The Muckanippie Titanium Project contains both 100% owned Petratherm tenure and the JV tenement EL 6715, owned by Narryer Metals Limited (ASX:NYM). Reconnaissance mapping and surface sampling along with assaying of historic drill core stored at the South Australian Government’s Core Library identified previously unknown high-grade Titanium mineralisation spanning many square kilometres at two prospect sites, Rosewood and Claypan.

Outcrop samples recorded exceptional grades ranging between 10% and 50% titanium dioxide (TiO₂). The mineralisation occurs from or near surface (<10 metres) and is present as heavy mineral bands forming sheet-like Heavy Mineral Sand (HMS) mineralisation. Re-assaying of historical wide spaced drilling confirms HMS mineralisation extends at least 6 kilometres to the North.

At Claypan significant Titanium-Vanadium mineralisation has also been identified in the underlying basement source rock, returning grades up to 21.0% TiO₂ and 0.44% V₂O₅, and additionally has potential for primary basement mineralisation (Refer to PTR ASX Release 11/09/2024 for details and JORC Table 1 information).

Follow up exploration activities including drilling are ongoing at both the Rosewood and Claypan prospects.

Geological Setting and Background

The Muckanippie Suite is a series of large layered igneous intrusions, ranging in composition from ultramafic to felsic (anorthosite) across a total project holding of 645km² located in the northern Gawler Craton of South Australia. This style of layered intrusion forms in specific geological environments and are uncommon. Globally, layered mafic and anorthosite igneous intrusions are a major source of critical minerals. The most notable example being the Bushveld Complex of South Africa which is host to world’s foremost Platinum Group Metals mining operations and includes major quantities of base metal, chromium and vanadium.

Other layered mafic to anorthosite intrusions host major titanium, iron, vanadium and phosphate mines, for example Lac Tio in Canada (Ti-Fe), Tellnes in Norway (Ti), and Damiao in China (Fe-Ti-VP). The mineralisation in the Fe-Ti-P-V ores is mostly in the form of magnetite and thus magnetic data is a powerful tool in finding and delineating these orebodies.

The Muckanippie Suite has been largely unexplored as it is partially masked by a thin layer of cover material above the layered geological sequence. Where sparse outcrop occurs or shallow drilling has been undertaken, highly anomalous Gold, Platinum Group Metals, Titanium, Vanadium, Iron and Phosphate are reported. High Ti-Fe-P and elevated V drill intersections over substantial thicknesses are reported from the M1 and Wigetty Prospects (see table below).

‘Sturt’ Licence Area – Gold – Platinum Group Metal Prospectivity

The ‘Sturt’ Licence area covers interpreted portions of the northern and western lower stratigraphic horizons of the main layered intrusion. Limited historical shallow air-core drilling at Nardoo South, Nardoo East and Duke Prospects tested geochemical anomalies associated with magnetic horizons and electromagnetic features.

At Nardoo South, anomalous nickel up to 0.12% Ni and vanadium up to 0.14% V₂O₅ is reported associated with mafic and ultramafic intrusive rocks. At Nardoo East significantly anomalous palladium is reported up to 76 ppb.

At Duke Prospect a single 50 metre spaced air-core drill traverse over the centre of a magnetic layer returned significant gold and highly anomalous palladium and vanadium assay results. Drill hole DAC5 returned 2 metres @ 0.54 g/t Au from 34 metres. Other 2 metre composite assay results from the Duke Prospect report anomalous palladium up to 77 ppb and vanadium up to 0.23% V₂O₅.

PTR postulate that the gold-palladium-vanadium mineralisation is associated along discrete horizons within the layered intrusion like that recorded in the Bushveld Complex. PTR intend to undertake exploratory drilling to test for higher concentrations that are likely to form as narrow reef like horizons.

‘Sturt’ Licence Area – Vanadium-Titanium-Magnetite-Phosphate Potential

In the northeastern section of the licence area two discrete magnetic anomalies (Queenie Tank Prospect) were drill tested using a sonic drill method by Flinders Mines in 2008, as part of a regional exploration program for diamonds. Drill holes GM 25.1 and GM 25.2 were selectively assayed for a wide range of elements over short down hole intervals. Both drill holes record exceptional concentrations of vanadium (up to 0.44%), titanium (up to 21% TiO₂) and iron (up to 47.5% Fe) along with highly anomalous phosphate and chrome. Please note historical assaying of the drill holes was not complete (only selected sampling of short intervals down hole) so no assumptions can be made of average down hole mineral concentrations.

The style of mineralisation intersected in the historical drilling is indicative of Vanadiferous Titanomagnetite (VTM) deposits, which supply approximately 88% of the world’s vanadium. These deposits are associated with layered intrusions like that identified at Muckanippie and the ores typically form stratiform horizons due to their association with the layered intrusions.

Petratherm postulate that the discrete bull eye magnetic anomalies are pulled apart segments from later faulting/shearing of the main stratiform magnetic horizon evident in the regional magnetic data immediately along trend. This prospective magnetic horizon which extends for approximately 18 kilometres occurs under shallow cover and will be a priority for drilling follow up.

Historical assay drill results from Queenie Prospect. The element assays reported below show all the intervals that were sampled. All but 2 samples reported significant assay concentrations.

Gold Potential

The historic Malbooma Gold Prospect  comprising two outcropping parallel quartz reefs 400 metres apart was first reported by Government geologists in 1908. The quartz lode in each case is up to 1.5 metres wide, trends NNW and extends for approximately 15 metres before passing under cover both north and south. It is unknown how far the quartz reefs may extend under cover. Limited surface and shallow vertical shaft mining of a quartz iron-oxide lode rock has occurred, with no significant exploration having been undertaken since the 1980’s. No historical production records exist however mine spoil samples of the ore rock taken by Normandy Exploration in 1997 reported samples between 2 to 11 g/t Au and an earlier sampling program by CRA in 1982 returned gold values up to 22.0 g/t Au.

In 1989, junior explorer Tarcoola Gold, completed ground geophysics and follow-up reconnaissance shallow RAB drilling (82 holes, average depth per hole 15 metres) over a portion of prospect area. The drilling immediately adjacent to the main workings reported an ore reef zone with considerable brecciation, and with visible yellow, goethitic box works (after pyrite).

Drill hole MK 12 returned: 16m @ 1.2 g/t Au from 20m to end of hole (EOH) , with some of the highest grades being reported near EOH – e.g. 4m @ 3.0 g/t Au from 30m.

Petratherm Geologists have made ground assessment of the historic workings. There has been no deeper drilling evaluating the extent of quartz lode reef at depth or along trend under cover. The high gold grades recorded and evidence of anomalous gold over the broader area demonstrates that potential exists for a larger gold system in the surrounding areas given over 90% of the project area is blanketed by shallow cover masking the prospective bedrock.