1 / 39

AVOCA RESOURCES LTD

AVOCA RESOURCES LTD. “The Rigs are Rattling in South Australia” Sydney Mining Club 4 March 2004. Presentation Outline. Who is Avoca? What got Avoca started in SA? How do you cut back over 16,000km 2 to meaningful drill targets? What has Avoca achieved in SA, and where to in 2004?

wallis
Download Presentation

AVOCA RESOURCES LTD

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. AVOCA RESOURCES LTD “The Rigs are Rattling in South Australia” Sydney Mining Club 4 March 2004

  2. Presentation Outline. • Who is Avoca? • What got Avoca started in SA? • How do you cut back over 16,000km2 to meaningful drill targets? • What has Avoca achieved in SA, and where to in 2004? • Summary

  3. Avoca is an aggressive junior explorer…. Diamond Drilling 1,397 metres RC Drilling 6,064 metres Aircore Drilling 14,205 metres RAB Drilling 24,143 metres Auger Drilling 5,815 holes Soil Sampling 6,444 samples Gravity Surveys 4,583 stations Surface EM Surveys 98 line km …..all since listing in April 2002.

  4. ..with a quality portfolio in two of Australia’s highest endowed provinces… • Over 10,000km2 in Australia’s richest copper belt , being the Olympic Copper-Gold Province in SA, and • Almost 8,000km2 in the Eastern Goldfields of WA….mostly in free-carried JVs with Gold Fields, Placer Dome, Harmony, Teck Cominco, Sons of Gwalia and Mines & Resources.

  5. Avoca corporate overview. • ASX Code AVO • Issued Securities 64m shares (58m quoted) 9.8m unlisted options • Market Capitalisation $10m ($3m in cash) • Major Shareholders - Gold Fields (11%) (Top 20 own 44%) - Kurana (7%) • Staffing MD, EM, SG,TGM, Ac(pt)

  6. Presentation Outline. • Who is Avoca? • What got Avoca started in SA? • How do you cut back over 16,000km2 to meaningful drill targets? • What has Avoca achieved in SA? • Where to next for Avoca’s SA quest? • Summary

  7. Recognising an opportunity and moving very fast….. Prominent Hill: 100m @ 2% Cu announced

  8. ..to secure the major position in Australia’s richest copper belt. • Within 24 hours of the Prominent Hill announcement, Avoca became the dominant lease-holder with 16,000km2 in what later became known as Olympic Copper-Gold Province. • Applications by fax and a credit card bill of ~$15K…..

  9. Presentation Outline. • Who is Avoca? • What got Avoca started in SA? • How do you cut back over 16,000km2 to meaningful drill targets? • What has Avoca achieved in SA and where to in 2004? • Summary

  10. ….smart geochemistry and geophysics. Northern segment of holding was principally geochemistry driven. -utilising innovative geochemical techniques able to “see” through the rocks which bury mineralisation.

  11. ….smart geochemistry and geophysics. Southern segment of holding was geophysically driven. • combination of magnetic and gravity surveys collected both by government agencies and Avoca.

  12. An example of innovative geochemistry. • 1979 drill hole intersected 14m @ 0.5% Cu at 280m depth. • Avoca collected “partial leach geochemistry” over drill hole to see if technique can “see through cover rocks.” GravityMagnetics (regional only)

  13. Geochemistry over drill hole containing buried mineralisation shows strong surface anomaly Drill hole location

  14. ..Avoca then completed extensive geochemical coverage to test Nth block. • In excess of 11,000km2 surveyed. One sample collected every 4km. • Four areas showed coherent and strongly anomalous copper-gold-REE anomalism on surface at: Myall Hill, Shore Hill, Pernatty and Reordan. • Provides for ground rationalisation strategy.

  15. .....over ground like this, sometimes!

  16. The application of geophysics in the search for Cu-Au. • Magnetics proves very useful for identifying major faults that control location of zones of rock that may host mineralisation. - eg Pine Point Fault and Port Julia prospect on the Yorke Peninsula Parara Mine Hillside Mine Port Julia target

  17. The application of geophysics in the search for copper-gold. - Both the Ernest Henry deposit and Avoca’s Glensea Prospect (east coast of Eyre Peninsula) show similar geophysical features: large magnetic complex against non-magnetic granite.

  18. Presentation Outline. • Who is Avoca? • What got Avoca started in SA? • How do you cut back over 16,000km2 to meaningful drill targets? • What has Avoca achieved in SA and where to in 2004? • Summary

  19. Olympic Dam style breccia at Port Julia • First Avoca drill hole into 6km long gravity anomaly intersects Olympic Dam-style breccia. *First occurrence on Yorke P. • Second hole commenced yesterday, 2.5km from first hole. PJD1

  20. PJD1 176.2m: Chalcopyrite in haematitic breccia

  21. Drilling PJD1 at Port Julia, June 2003

  22. New work at Port Julia involves 3D imagery of Avoca’s gravity data… MOORE GEOPHYSICS

  23. ..and calculating what type of dense body may give rise to the Port Julia gravity anomaly… MOORE GEOPHYSICS

  24. Here higher density “cores” to the source body are seen as green, and are targets for current drill testing. PJD1 PJD2 PJD1 drilled in non-optimum location. 1km MOORE GEOPHYSICS

  25. Is Glensea another Moonta-style field? • Avoca drills the only 3 holes into 80km2 magnetic anomaly. • Discovers high grade copper-gold veins in 3 holes over 6km2. • Large TEM program to identify large massive sulphide position completed. • Drilling to re-commence in March Qtr 2004. Glensea

  26. Glensea discovery – another Moonta field? Avoca’s 3 holes are the only holes ever drilled into the magnetic anomaly

  27. COD1, 115.47m Massive chalcopyrite with quartz. 0.9m @ 3.25% Cu, 0.24 g/t Au, 2.4 g/t Ag

  28. Drilling COD1 at Glensea, April-May 2003

  29. Wandearah is a very large and highly dense body.. • Drill targets defined by two discrete 5km2 gravity anomalies. North target coincident with highly anomalous geochemistry. • Targets not previously drilled. • Avoca to drill in March 2004. Wandearah

  30. ..with two discrete gravity anomalies (drill targets). • Two discrete anomalies off main anomaly axis – defined by 1800 station gravity survey completed by Avoca. • Very large target sizes (5km2)

  31. New work at Wandearah shows 3D image of Avoca’s gravity data. NEW OLD MOORE GEOPHYSICS

  32. Dense body at depth calculated as being responsible for gravity anomaly. Note this feature MOORE GEOPHYSICS

  33. Discrete gravity anomaly

  34. Geochemistry overlying gravity. Copper anomaly (20x background)

  35. Geochemistry overlying gravity. REE anomaly (50x background)

  36. Geochemistry overlying gravity. DRILL TEST – March 2004 Uranium anomaly (50x background)

  37. Summary • Avoca is an aggressive and fast moving junior explorer that acquired the major holding of Australia’s richest copper belt following MNR announcement. • Avoca’s initial holding of in excess of 16,000km2 was reduced using results from a combination of innovative geochemistry and geophysical techniques. • Avoca has discovered a new high grade copper-gold Moonta style field at Glensea.

  38. Summary cont’d. • Avoca’s first drill hole into Port Julia intersected Olympic Dam style haematite breccias. First observation on YP. • Wandearah exhibits excellent geochemical and geophysical properties consistent with buried mineralisation. • All 3 copper-gold targets to be drill tested over next 2-3 months.

  39. www.avocaresources.com.au

More Related