Livewire Exploration Watch
St George Mining has reported a thick package of ultramafic rocks with distinctive “spinifex” textures from a hole at its Windsor prospect east of Laverton. Designed to test a strong geophysical conductor at a depth of 200 metres, the outcome is consistent with the type of mineralisation sought. Coincident structure, favourable host rocks and trace nickel should encourage confidence about the exploration targeting skills of the company. Carnarvon Petroleum reported that the US$45M offshore ROC-1 well in the Northwest Shelf failed to intersect commercial quantities of hydrocarbons in a stacked sequence of Triassic age sediments in 80 metres of water depth. Ausquest is preparing to drill test the Lana porphyry copper prospect in Peru. Joint venturer Southern Peru Copper Corporation may spend US$1M and complete 5000m of drilling by 9 April 2016 and drill a further 15,000m with staged cash payments of US$2.925M over the next three years to earn a 70% project interest. The Lana prospect, in a region characterised by large porphyry copper systems, is defined by a large gravity anomaly at a favourable structural junction.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
No areas of expertise