Rare earths, lithium, now copper“Last week the Company announced the identification of a significant rare earth anomaly and a large LCT pegmatite zone and today we are very happy to announce a drill ready 3km x 1.5km copper-gold target with IOCG potential,” Norwest Minerals (ASX:NWM), CEO Charles Schaus said. “These three exciting discoveries have all resulted from careful geochemical analysis of last year’s ultra-low detection fine-fraction multi-element assays from soil sampling across our 840km2 Arunta West Project. “The company has submitted work programs in line with our fully executed Land Access Agreements as we prepare to mobilize our people back into the field to commence follow-up exploration across all three targets.” In the meantime, Norwest’s independent geochemist is assessing Norwest’s comprehensive soils database for additional anomalies having economic mineralisation potential.
Location of new copper-gold anomaly and regional structure passing through the Arcee gold prospect to the southeast and tenements held by IGO and Rio to the northwest.
Rio just recognized regional potential
Interest in the mineral resource potential of the Arunta region has significantly increased recently with Rio Tinto entering a staged multi-million-dollar farm-in and joint venture agreement in five tenements held by Tali Resources.
The Rio-Tali tenement E80/5333 shares ~50kms of boundaries with the Norwest’s Arunta West project tenements.
And adjoining the easternmost Arunta West tenements is ground held by IGO which covers ~15,600km2 extending over 300kms from the WA border into the Northern Territory.
IGO exploration has identified multiple gold, gold-copper-lead-zinc, and nickel-cobalt prospects along the Arunta belt.
This article was developed in collaboration with Norwest Minerals Limited, a Stockhead advertiser at the time of publishing.