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Caledonian Pacific Minerals N.L. -
Several drilling targets defined in New
Caledonia
Caledonian Pacific Minerals NL - Company
Website caledonian-pacific.com
Minerals N.L.
CDM
Shares issued
39960005
1998-03-03 close
$0.19
Tuesday Mar 3 1998
Mr Terence O'Leary reports
Meretrice Project
Reconnaissance ground geophysical
exploration for zinc-lead-silver rich
stratabound massive sulphide mineralization of
the Meretrice type, has detected a series of
discrete, intense anomalies over a 4,500m
strike length, within a broad anomalous belt up
to 1,000m in width. An initial detailed followup
survey, during January-February 1998, over
the 1,500m long central sector, has detected
the Meretrice deposit as a small discrete
anomaly, structurally displaced to the west of
the main anomaly trend. The much larger and
more intense main anomaly zone to the east,
has a minimum combined strike length of
1,000m and is clearly a high priority drilling
target. The main anomaly is open to the north,
south and southeast, and occurs at an
estimated minimum depth of 50m to the top of
the anomaly. Except for the Meretrice mine
area, there is no surface expression of these
anomalies. The shallow to flat lying attitude of
the Meretrice mineralization suggests these
anomalies are of similar orientation and
concealed beneath cover sediments and
volcanics.
The detailed, gradient array induced
polarization survey is currently being extended
to cover the northern 2,500m long Balangahou
Anomaly and the 2,000m long Tchalabel
Anomaly, 800m southwest of the Meretrice
mine. Both these zones are open ended, and
have a more intense response than the Central
Anomaly.
Based on petrophysical studies of Meretrice
core samples, of both high grade pyritic base
metal mineralization and a variety of host
rocks; including carbonaceous schists, rhyolitic
tuffs and volcanics, the massive and
disseminated sulphides show strong IP
response and high contrast with other
lithologies. Advanced computer modelling of
the geophysical data (ie sub-audio magnetics,
and dipole-dipole and gradient array IP) will
provide some geometry to these anomalies.
Assessment at this stage suggests most of the
anomalies lie at depths of 50m to 100m, with
varying attitudes, from shallow to steeply
dipping.
The geology in this region consists of the upper
Cretaceous Pilou Formation, a bimodal
volcano-sedimentary sequence of
carbonaceous sediments, massive and
tuffaceous rhyolites and basaltic to andesitic
volcanics and sills. The strongest geophysical
anomalies lie nearest to the thickest
development of rhyolitic volcanics.
Mineralization comprising base metals and
associated silver and gold, is in general
throughout the Diahot Basin, intimately
associated with centres of rhyolitic volcanism.
The host lithologies and regional tectonic
environment are indicative of a deformed
continental margin extensional trough, typical
of some major metallogenic provinces, such as
the world class Iberian base metal province in
Spain.
The size, strike length and continuity of these
anomalies, their lack of surface expression,
and their probable stratiform base metal
sulphide source, has greatly increased the
possibility for the presence of a major deposit
in the Meretrice project area. A substantial
program of reverse circulation and diamond
drilling will be required to test this 405km long
zone of potential mineralization. 6,000m to
7,000m of RC and 3,000m of diamond drilling
are scheduled for the initial phase. Much of
this drilling will comprise PC precollaring to 50
to 150m with diamond drilling extensions up to
400m depths.
RC drilling is expected to commence late
March 1998, using the current drill rig in New
Caledonia. Negotiations are also currently in
progress to engage a second, track mounted
diamond rig, for the deeper drilling extensions.
Diahot Basin Project
Application (Diahot and Arama PRA
application) for an additional 97 sq km in
December 1997 for prospective ground in the
Diahot Basin will increase the strike length for
potential mineralization in the company's
tenements to 25km.
The favourable belt of acid volcanics in the
Meretrice area is known to extend
semi-continuously 15km further to the
northwest. The Pilou and Ao massive sulphide
zinc-copper-lead silver and gold prospects are
at the northern end of this volcano-sedimentary
belt. Numerous smaller base metal prospects
and geochemical anomalies are scattered along
the 25km long Pilou-Meretrice belt. Detailed
exploration of the Pilou and Ao prospects is
expected to commence by mid-1998. Except
for the latter two mines, there has been little
exploration of this highly mineralized
metallogenic belt.
While the main base metal prospects are
closely associated with the bimodal volcanic
zones, a regionally extensive nodular
barite-pyrite horizon has been mapped near
the stratigraphic transition between the
restricted lagoonal black shale-volcanic
sequence of the Pilou Formation and the
overlying, open marine limestone-siliceous
siltstone succession of the Pounou Formation.
Barite concentrations at this stratigraphic level
in the Kone area, 100km to the south, suggest
this horizon represents a major regional
exhalative event. The association of stratiform
barite horizons with sediment hosted exhalative
zinc-lead sulphide mineralization (ie Sedex
type) is well known world wide (eg, Gatata
District, Selwyn Basin, Canada), but to date
this horizon has never been explored for its
base metal potential. Initial exploration on this
new stratigraphic zone of potential base
metal-barite mineralization will focus on a 5km
long pyrite-barite horizon, in the rugged Roche
Mauprat range, 6km northwest of the
Meretrice mine.
In addition to detailed ground exploration of
known areas of base metal mineralization, it is
proposed to fly the entire 25km long by 10km
wide prospective belt in the Diahot Basin with
the Dighem II airborne electromagnetic
system. This helicopter EM system is capable
of detecting massive sulphide mineralization to
depths of 100m, and will provide definitive
information for resolving the complex geology
of this region.
(c) Copyright 1997 Canjex Publishing Ltd.
canada-stockwatch.com
All comments welcome.
Mr Metals |
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