PROJECTS (NEW)

MILPARINKA PLATINUM-NICKEL PROJECT
EL 6832 - 1105 km2 ; EL 7147 - 856 km2

Licence Granted: EL 6832 6th July 2007 EL 7147 30th May 2008
Location: 250km north of Broken Hill
Area: EL 6832 1105km2 EL 7147 856km2

Target: Layered magmatic and diatreme deposits in ultramafic intrusions;
porphyry and orogenic gold-copper

Commodities Sought: Platinum Group Elements (PGE), nickel, copper, gold
Metallogenic Province: Thomson Fold Belt; Bulloo Overflow Depression

Exploration Philosophy:
At Milparinka Capital has title to a large acreage of unexplored terrain covering targets for world-class platinum-nickel and copper-gold deposits associated with a deep-seated, voluminous, mafic to ultramafic intrusive complex of crustal scale. The zone of interest is in excess of 300 square kilometres in area and has a total strike length of 70 kilometres. There is potential for layered nickel-PGE sulphide deposits to be located in the intrusive mass itself and for long-lived hydrothermal cells to have been set up in the overlying column of metamorphic rock.

Project Status:
In 2008 very positive results were obtained from a comprehensive independent analysis of the open file information relating to the geological setting of the complex and the target models being employed in its exploration. The most pertinent finding was that in terms of the geology and tectonic setting the modelled intrusive complex at Milparinka can be regarded as a realistic analogue of the ultramafic complex which hosts the giant Voisey's Bay nickel sulphide deposit at Labrador in Canada (i.e. a 140 million tonne resource at 1.6% nickel including reserves at 2005 of 32 million tonnes at 2.75% nickel, 1.59% copper, 0.14% cobalt and Platinum Group Elements).

The Milparinka tenements are located within the NSW Department of Primary Industries New Frontiers Thomson Orogen Project Area and the Department has acquired a comprehensive suite of regional data sets that are aimed at lowering exploration risk.

Capital has applied leading edge technology under contract to produce a series of high quality target maps from re-processed regional gravity, magnetic and radiometric datasets. The ultramafic complex is thought to have been emplaced at the intersection of a super-terrane boundary and a major cross fault. Exploration is aimed at the drilling of a deep stratigraphic/discovery hole in the main target region.

An Information Memorandum is available and a joint venture partner is being sought.

 

Milparinka location map