Victoria - Home | Australia Mineralsaustraliaminerals.gov.au/__data/assets/pdf_file/0011/... · 2017-02-27 · Gold › Demonstrated world- class gold destination › Recent discoveries
• Victoria is the biggest exporter of mining equipment, technology and services (METS) inAustralia› ~1900 hundred METS businesses across Victoria employing 21,000 Victorians› Investment advice and financing, research and design, legal services, consulting, information and
communications technology, engineering and construction› Melbourne is the financial and decision making hub for Australian mining, >100 mining and resources
companies headquartered in Melbourne’s CBD
• The Victorian Government’s approach is to target prospective geological provinces at the pre-competitive stage and undertake a coordinated set of activities to reduce exploration risk,encourage investment and build community confidence:› Build the geoscience understanding› Understand the natural resource and land use of the region› Engage local communities early› Develop enduring relationships with quality investors
WHY VICTORIA FOR MINING
2 Victoria IMARC 2016 presentation
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For those who may not be aware Victoria is an Australian leader in the METS sector, exporting skills and expertise to the domestic and international mining market. Melbourne itself is an Australian mining hub with >100 mining and resources companies headquartered in the CBD. Victoria has excellent infrastructure including road, rail, port and power. The current focus of the Victorian Government is to target prospective geological provinces at the pre-competitive stage and undertake a set of early technical and non-technical activities that reduce risk for the industry, community and government.
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• Geological framework/systems approach› A more predictive approach for mineral
exploration targeting› Tectonic and geodynamic setting (i.e. the
geological configuration of eastern Australia)
• Gold› Demonstrated world-class gold destination› Recent discoveries under cover (~50m)› No gold royalty
KEY COMMODITIES
3 Victoria IMARC 2016 presentation
1. Base Metals2. Nickel-PGE’s3. Copper-Base Metals-Gold4. Gold5. Gold-Antinomy
6. Gold-Base Metals7. Tin-Tantalum8. Gold-Base Metals9. Gold-Base Metals10. Base Metals
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Time will not permit covering every possible commodity opportunity in Victoria. What I would like to stress is the geological framework/systems approach that has been employed, which provides a more predictive approach for mineral exploration targeting by understanding the geological configuration of not just Victoria but southeast Australia and how potential mineral deposits have formed in space and time. You can see us at the booth following the presentation for more details. One commodity I would like to touch on briefly is gold and the remaining exploration potential in Victoria. The slide on the right displays Victoria’s current known goldfields and geological zones with the darker shade representing younger cover (i.e. Murray Basin) in northern Victoria which obscures the prospective basement rocks of the Stawell, Bendigo and Melbourne zones. I would point out the location of Victoria’s largest gold producer at present – Fosterville ~100-120koz pa – on the southern margin of the Murray Basin, as is Stawell (4Moz hard rock deposit). Recent gold discoveries under ~50m of cover at Four Eagles-Tandarra and Lockington highlight the potential, which is largely under explored and represents a great greenfields opportunity.
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• Geological framework/systems approach› A more predictive approach for mineral
exploration targeting› Tectonic and geodynamic setting (i.e. the
geological configuration of eastern Australia)
• Gold› Demonstrated world-class gold destination› Recent discoveries under cover (~50m)› No gold royalty
KEY COMMODITIES
3 Victoria IMARC 2016 presentation
Speaker's notes
Presenter
Presentation Notes
Time will not permit covering every possible commodity opportunity in Victoria. What I would like to stress is the geological framework/systems approach that has been employed, which provides a more predictive approach for mineral exploration targeting by understanding the geological configuration of not just Victoria but southeast Australia and how potential mineral deposits have formed in space and time. You can see us at the booth following the presentation for more details. One commodity I would like to touch on briefly is gold and the remaining exploration potential in Victoria. The slide on the right displays Victoria’s current known goldfields and geological zones with the darker shade representing younger cover (i.e. Murray Basin) in northern Victoria which obscures the prospective basement rocks of the Stawell, Bendigo and Melbourne zones. I would point out the location of Victoria’s largest gold producer at present – Fosterville ~100-120koz pa – on the southern margin of the Murray Basin, as is Stawell (4Moz hard rock deposit). Recent gold discoveries under ~50m of cover at Four Eagles-Tandarra and Lockington highlight the potential, which is largely under explored and represents a great greenfields opportunity.
THE STAVELY MINERALS EXPLORATION INITIATIVE
INVESTMENT OPPORTUNITIES
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The main focus of the talk this afternoon is the Stavely Minerals Exploration Initiative in western Victoria, approximately 3 hours drive west of Melbourne.
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• Early stage mineral exploration with long terminvestment opportunities
• An Australian greenfields copper opportunity› Demonstrated porphyry and volcanic massive
sulphide mineralisation› 20,000km2 project area
• Excellent infrastructure (road, rail, port)
THE STAVELY MINERALS EXPLORATION INITIATIVE
5 Victoria IMARC 2016 presentation
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Greenfields copper opportunities in Australia are not easy to come by but we believe we have identified one in western Victoria Prospective for porphyry and volcanic massive sulphide mineralisation, both of which are known to occur in camps. The geological understanding has significantly advanced in the past 3 years following a collaborative project between the Geological Survey of Victoria and Geoscience Australia, which has delivered modern pre-competitive geoscience data to reduce mineral exploration risk by working with some of Australia’s best research institutions. We are now at the stage of delivering the final data releases and project reports.
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ESTABLISHING THE GEOLOGICAL ARCHITECTURE
6 Presentation Title
Schofield et al, in prep
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While periodic (shallow) mineral exploration has be undertaken in localised areas within the region since the early 1970’s it was not until the acquisition of regional deep seismic reflection in 2009 that the full potential for mineral exploration really came to light following the identification of a potential Cambrian (~500Ma) aged volcanic arc edifice in a convergent margin setting – for the uninitiated this is a good setting for porphyry copper deposits and related systems. Not enough time during this presentation but please see us at our booth for more details.
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THE STAVELY MINERALS EXPLORATION INITIATIVE
7 Victoria IMARC 2016 presentation
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So – what do you do only ~3.5% of your 20,000km2 project area is exposed (prospective) Cambrian aged rocks with the remainder under cover? You commit to completing a ($3.5M) multi-disciplinary pre-competitive stratigraphic (core) drilling program across the area to test the depth of cover, investigate the prospective basement and reconstruct the geological architecture.
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THE STAVELY MINERALS EXPLORATION INITIATIVE
7 Victoria IMARC 2016 presentation
Speaker's notes
Presenter
Presentation Notes
So – what do you do only ~3.5% of your 20,000km2 project area is exposed (prospective) Cambrian aged rocks with the remainder under cover? You commit to completing a ($3.5M) multi-disciplinary pre-competitive stratigraphic (core) drilling program across the area to test the depth of cover, investigate the prospective basement and reconstruct the geological architecture.
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• Pre-Competitive Geoscience› 2,708m stratigraphic core drilling› 2015-2016: Data releases (9)› Early 2017: Final reports (3)
• TARGET Minerals Exploration Initiative› Government co-funded mineral exploration program› $12M in mineral exploration grants available – multiple rounds› Round 1: c.$2M in grants issued
• Building community confidence in minerals explorationand development› Briefings› Land Use Inventory
8 Victoria IMARC 2016 presentation
THE STAVELY MINERALS EXPLORATION INITIATIVE
Speaker's notes
Presenter
Presentation Notes
The Stavely Minerals Exploration Initiative is an integrated approach to reduce mineral exploration risk and increase the possibility of discovery: Technical: 14 stratigraphic drill holes completed across the project area (100m-350m depth), generating new modern geochemistry, geochronology, spectral logging, rock property datasets and resulting interpretations Financial: Recognising the risk of mineral exploration undercover and government sharing that risk with investors. Close to $2M in grants were issued in the first round of TARGET with more rounds to come. Social: Understanding the views of local community, providing knowledge to community, local and State government and understanding land use and available infrastructure – benefits all stakeholders with resect to understanding process and making informed decisions. If I can draw your attention to the image on the right. The current state geology, stratigraphic drill holes completed and some of the better known prospects, which have a surface expression I will simplify this to show the major cover units which as you can see does not leave much of the prospective Cambrian bedrock Lifting this cover off reveals the volcanic belts which represent portions of the Stavely Arc And finally a flavour for the intensive fault network of we have invested a lot of time and effort in trying to understand to reconstruct the geology and benefit explorers.
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• Pre-Competitive Geoscience› 2,708m stratigraphic core drilling› 2015-2016: Data releases (9)› Early 2017: Final reports (3)
• TARGET Minerals Exploration Initiative› Government co-funded mineral exploration program› $12M in mineral exploration grants available – multiple rounds› Round 1: c.$2M in grants issued
• Building community confidence in minerals explorationand development› Briefings› Land Use Inventory
8 Victoria IMARC 2016 presentation
THE STAVELY MINERALS EXPLORATION INITIATIVE
Speaker's notes
Presenter
Presentation Notes
The Stavely Minerals Exploration Initiative is an integrated approach to reduce mineral exploration risk and increase the possibility of discovery: Technical: 14 stratigraphic drill holes completed across the project area (100m-350m depth), generating new modern geochemistry, geochronology, spectral logging, rock property datasets and resulting interpretations Financial: Recognising the risk of mineral exploration undercover and government sharing that risk with investors. Close to $2M in grants were issued in the first round of TARGET with more rounds to come. Social: Understanding the views of local community, providing knowledge to community, local and State government and understanding land use and available infrastructure – benefits all stakeholders with resect to understanding process and making informed decisions. If I can draw your attention to the image on the right. The current state geology, stratigraphic drill holes completed and some of the better known prospects, which have a surface expression I will simplify this to show the major cover units which as you can see does not leave much of the prospective Cambrian bedrock Lifting this cover off reveals the volcanic belts which represent portions of the Stavely Arc And finally a flavour for the intensive fault network of we have invested a lot of time and effort in trying to understand to reconstruct the geology and benefit explorers.
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• Pre-Competitive Geoscience› 2,708m stratigraphic core drilling› 2015-2016: Data releases (9)› Early 2017: Final reports (3)
• TARGET Minerals Exploration Initiative› Government co-funded mineral exploration program› $12M in mineral exploration grants available – multiple rounds› Round 1: c.$2M in grants issued
• Building community confidence in minerals explorationand development› Briefings› Land Use Inventory
8 Victoria IMARC 2016 presentation
THE STAVELY MINERALS EXPLORATION INITIATIVE
Speaker's notes
Presenter
Presentation Notes
The Stavely Minerals Exploration Initiative is an integrated approach to reduce mineral exploration risk and increase the possibility of discovery: Technical: 14 stratigraphic drill holes completed across the project area (100m-350m depth), generating new modern geochemistry, geochronology, spectral logging, rock property datasets and resulting interpretations Financial: Recognising the risk of mineral exploration undercover and government sharing that risk with investors. Close to $2M in grants were issued in the first round of TARGET with more rounds to come. Social: Understanding the views of local community, providing knowledge to community, local and State government and understanding land use and available infrastructure – benefits all stakeholders with resect to understanding process and making informed decisions. If I can draw your attention to the image on the right. The current state geology, stratigraphic drill holes completed and some of the better known prospects, which have a surface expression I will simplify this to show the major cover units which as you can see does not leave much of the prospective Cambrian bedrock Lifting this cover off reveals the volcanic belts which represent portions of the Stavely Arc And finally a flavour for the intensive fault network of we have invested a lot of time and effort in trying to understand to reconstruct the geology and benefit explorers.
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• Pre-Competitive Geoscience› 2,708m stratigraphic core drilling› 2015-2016: Data releases (9)› Early 2017: Final reports (3)
• TARGET Minerals Exploration Initiative› Government co-funded mineral exploration program› $12M in mineral exploration grants available – multiple rounds› Round 1: c.$2M in grants issued
• Building community confidence in minerals explorationand development› Briefings› Land Use Inventory
8 Victoria IMARC 2016 presentation
THE STAVELY MINERALS EXPLORATION INITIATIVE
Speaker's notes
Presenter
Presentation Notes
The Stavely Minerals Exploration Initiative is an integrated approach to reduce mineral exploration risk and increase the possibility of discovery: Technical: 14 stratigraphic drill holes completed across the project area (100m-350m depth), generating new modern geochemistry, geochronology, spectral logging, rock property datasets and resulting interpretations Financial: Recognising the risk of mineral exploration undercover and government sharing that risk with investors. Close to $2M in grants were issued in the first round of TARGET with more rounds to come. Social: Understanding the views of local community, providing knowledge to community, local and State government and understanding land use and available infrastructure – benefits all stakeholders with resect to understanding process and making informed decisions. If I can draw your attention to the image on the right. The current state geology, stratigraphic drill holes completed and some of the better known prospects, which have a surface expression I will simplify this to show the major cover units which as you can see does not leave much of the prospective Cambrian bedrock Lifting this cover off reveals the volcanic belts which represent portions of the Stavely Arc And finally a flavour for the intensive fault network of we have invested a lot of time and effort in trying to understand to reconstruct the geology and benefit explorers.
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• The Stavely Project area: 20,000 km2
› 61% is currently held by the State, with the plan to release› 23% is currently held under licence› 13% is unavailable, and› 3% available (but unprospective)
• S7 Exemption (MRSDA 1990)› Attract companies with demonstrated social values, active/proven
explorers, well funded› Planned land release 2017
9 Victoria IMARC 2016 presentation
THE STAVELY MINERALS EXPLORATION INITIATIVE
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With so much research being undertaken and the potential for a new significant mineral discovery under cover all available land within the project area is currently under a Section 7 exemption with the intent to release the land as new mineral exploration licences underpinned by the new pre-competitive data and interpretation. Approximately 61% (12,200km2) of the area expected to be available in 2017. We are currently working through the mechanics of a land release, including the number and individual sizes of the new exploration licences. The new release is likely be a competitive tender involving criteria such as: demonstrated social values and community engagement practices, technical expertise and planned work program amongst others. The unavailable ground at present largely comprises National Parks, which I will add here are known not to be prospective.
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MINERALISATION AND HYDROTHERMAL ALTERATION
10 Victoria IMARC 2016 presentation
Corbett, 2012
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A quick snapshot of mineralogy, alteration and textures from some of exposed porphyry targets in the southeast of the project area. I will add that the landscape evolution and level of erosion across the region appears favourable for the preservation of both porphyry and epithermal systems.
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
11 Victoria IMARC 2016 presentation
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I’d like to leave you with a brief insight into the prospectivity of the region. Total Magnetic Intensity is shown on the left with the small box demarcating the area of greatest field control for the prospective basement, i.e. the greatest concentration of the 3.5% Cambrian outcrop. Using field controls such as the stratigraphy and geochemistry of the Cambrian aged volcanic belts, which are highly magnetic, exposed faults, bedding orientations and paleo-current directions (some of which are shown on the right) we have been able to unpack the region to an earlier configuration to investigate mineral prospectivity.
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
12 Victoria IMARC 2016 presentation
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Starting with this area of geological control on the left, included is a schematic on the right that demonstrates the current configuration of the volcanic belts, which ultimately represent the dislocation of three early fault wedges from the Stavely Arc edifice at depth.
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
12 Victoria IMARC 2016 presentation
Bunnagal/Dimboola Belts
Boonawah/Black Range Belts
Stavely/Dryden Belts
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Starting with this area of geological control on the left, included is a schematic on the right that demonstrates the current configuration of the volcanic belts, which ultimately represent the dislocation of three early fault wedges from the Stavely Arc edifice at depth.
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
13 Victoria IMARC 2016 presentation
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
14 Victoria IMARC 2016 presentation
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
15 Victoria IMARC 2016 presentation
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
16 Victoria IMARC 2016 presentation
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The result is an estimated 1159km strike of prospective volcanic stratigraphy. Although the current exposure is very limited, in each instance where the volcanic belts are exposed there are known mineral occurrences, most notably of copper affinity. However, in addition to the new exploration search space identified under cover, the exploration search space has also be increased laterally with a key finding from this project that the sedimentary rocks between the volcanic belts are actually older and therefore also have the potential to host both porphyry and epithermal systems. That is, Cambrian aged mineralisation is not restricted to the volcanic belts as previously thought by researchers and explorers.
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PROSPECTIVITY – UNPACKING THE VOLCANIC BELTS
16 Victoria IMARC 2016 presentation
Bunnagal/Dimboola Belts: 382km
Boonawah/Black Range Belts: 235km
Stavely/Dryden Belts: 542km
Speaker's notes
Presenter
Presentation Notes
The result is an estimated 1159km strike of prospective volcanic stratigraphy. Although the current exposure is very limited, in each instance where the volcanic belts are exposed there are known mineral occurrences, most notably of copper affinity. However, in addition to the new exploration search space identified under cover, the exploration search space has also be increased laterally with a key finding from this project that the sedimentary rocks between the volcanic belts are actually older and therefore also have the potential to host both porphyry and epithermal systems. That is, Cambrian aged mineralisation is not restricted to the volcanic belts as previously thought by researchers and explorers.
THANK YOU
Fiona Clarke Manager – Resource Strategy and Industry Investment Minerals Development Victoria [email protected] P: (+61 3) 9452 9871
Cameron Cairns Manager – Minerals Geoscience Geological Survey of Victoria [email protected] P: (+61 3) 9452 8972
PLEASE SEE US AT OUR BOOTH
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On that note, it’s been quite intensive but thanks for your attention and please come and visit the Victorian Government booth (B10) for more details on any of the information presented this afternoon.
