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Exploration in the Wider Katherine Region - Future Potential Mineral Projects

Exploration in the Wider Katherine Region - Future Potential Mineral Projects. Dorothy Close Assistant Director, Northern Territory Geological Survey. Northern Territory Geological Survey (NTGS)

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Exploration in the Wider Katherine Region - Future Potential Mineral Projects

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  1. Exploration in the Wider Katherine Region - Future Potential Mineral Projects Dorothy Close Assistant Director, Northern Territory Geological Survey

  2. Northern Territory Geological Survey (NTGS) • Role: to provide the highest quality geoscientific information and advice to NT Government and the resources industry. • Through a series of NT govt initiatives, undertake new generation geoscience to stimulate exploration

  3. Northern Territory Geological Survey (NTGS)

  4. Gold – Pine Creek Mount Bundy project Company: Primary Gold Ltd New company aiming to restart Toms Gully • Cosmo Deeps • Company: Crocodile Gold • Cosmo Deeps in production • High-grade resources beneath Union Reefs • Spring Hill • Company: Thor Mining • 4.0 Mt @ 2.32 g/t Au • MOU to toll treat ore at Union Reefs • Mount Todd • Company: Vista Gold • 350 Mt @ 0.81 g/t Au • Revised two-stage development

  5. Project name: Mount Todd Company: Vista Gold • Commodity: Gold Status: Feasibility • Location: 55 km north of Katherine • Very large, moderate-grade resource (350 Mt at 0.81 g/t Au; 9 Moz Au) • Potential for long-term mine life (15 years) • Potential for more gold resources in area • Two-stage development, first stage to produce 240,000oz Au per year

  6. Roper iron field • Important emerging iron ore province • Originally discovered by BHP in 1950s • Large (~ 1 billion tonnes) low-grade (40% Fe) resources that can be beneficiated to ~60% Fe, mainly in flat-lying bodies close to surface • More than 70 Mt of higher grade direct shipping ore (~57-58% Fe) discovered • Mining of direct shipping ore schedules to commence in 2013

  7. Project name: Roper Bar Company: Western Desert Resources • Commodity: Iron ore Status: Near-term development • Location: 315 km east-southeast of Katherine • Large tonnage iron ore (hematite) with localised higher grade direct shipping ore • Total resource: 402 Mt @ 40.0% Fe, includes 32.1Mt @ 56.8% Fe • Exportviahaulroadto Bing Bongport • Firstshipmentplannedfor late 2013 • Initialproduction of 2.5 Mtparamping up to 10 Mtpa

  8. Project name: Roper River Company: Sherwin Iron • Commodity: Iron ore Status: Near-term development • Location: 200 km east-southeast of Katherine • Large tonnage iron ore (hematite) with localised higher grade direct shipping ore • Total resource: 488 Mt @ 41.7% Fe, includes 41.1Mt @ 57.8% Fe • Exportviahaulroadtorailway, thento Darwin port • Firstshipmentplannedfor 2014 • Initialproduction of around 3 Mtpa

  9. Project name: Sill 80 Company: Australian Ilmenite Resources • Commodity: Ilmenite Status: In development • Location: 200 km east-southeast of Katherine • Open cut mining of ilmenite-rich sand within 3 m of surface • Onsite processing to ilmenite concentrate • Inititalproduction 100,000tpa, ramping up to 300,000tpa • Currentlybeingcomissioned

  10. Rare earth elements • Group of seventeen specialty metals • Largely used in high-tech industries, eg hybrid cars, plasma screens, superconductors and battery alloys • TUC Resources has discovered two rare earth prospects west and northwest of Katherine – Quantum and Stromberg • Stromberg has the high value ‘heavy’ rare earth elements

  11. Project name: Stromberg Company: TUC Resources Ltd • Commodity: Rare earth elements Status: Exploration • Location: 130 km west of Katherine • Flat lying orebodies rich in high-value heavy rare earth elements • At surface, tabular bodies; soft xenotime-bearing clay • Additional new discoveries, potential for a new district of rare earths deposits

  12. A resurgence of zinc exploration? PitchblackResources Ltd acquiring 90% interest in Crocodile Gold’s base metals assets in the Pine Creek Orogen, including Iron Blow, Mount Bonnie and Mount Evelyn MMG JV into AngloAustralian’s Victoria River project – untested potential shale sub-basin EM and drilling planned in 2013 Batten Fault Zone – active exploration by Teck, MMG, Sandfire Teena prospect -resample of MIM core 11.3m @ 10.7% Zn, 0.2% Pb, 14 g/t Ag

  13. Onshore Petroleum Comparison 2009 - 2012

  14. Map of shale oil/gas basins, Geoscience Australia

  15. Onshore petroleum • Massive interest in onshore unconventional petroleum • Glyde-1 lateral • Company: Armour Energy • In McArthur Basin near Borroloola • 3 wells in 2012 • flows equivalent to over 3 million standard cubic feet of gas per day • Beetaloo Sub-basin: Hess Australia • 3,600 line km of 2D seismic in 2012 • Approaching decision point on drilling five wells

  16. Challenges for greenfields exploration • Difficulties in raising funds for greenfields exploration • Rising costs of discovery, especially in Australia • High-risk nature of undercover exploration • Role of Government is to lower the risk and cost of discovery relative to other jurisdictions

  17. NT Government support for exploration • Ongoing geoscience programs to attract and support exploration • Large-scale regional geophysical survey • Geoscience mapping programs to highlight prospectivity • Improved online access to NTGS data and reports and exploration company reports • Collaborative funding of greenfields exploration • Funding 100% up to $100k of selected projects • Round 6 of Geophysics and Drilling Collaborations underway • Assistance for explorers in attracting investment • International investment attraction in key markets such as China, Japan and Korea

  18. NTGS activities in greater Katherine region • Central McArthur gravity survey • Commencing resource assessment and geoscience mapping programs in McArthur Basin • Co-funding deep geothermal hole in Roper area • Co-funding zinc exploration drilling in Borroloola area and VRD

  19. Summary • The greater Katherine region has potential for significant mining developments for commodities including iron ore, ilmenite, zinc, rare earths, gold and diamonds • Gas exploration and development is emerging as a major industry • Exploration industry is experiencing difficulties globally • NT Geological Survey is working to stimulate exploration in the region through the CORE initiative

  20. Annual Geoscience Exploration Seminar (AGES) March 18-19 2014, Alice Springs Convention Centre

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