CuFe Ltd (ASX:CUF) has made its first foray into the North Dam Project, 28 kilometres east of Kambalda, Western Australia, having completed a maiden reverse circulation (RC) drilling campaign in the area.
The company is targeting niobium, rare earth elements (REE) and lithium resources across six priority target areas, defined by geological mapping and geochemical analysis, at two tenements: E15/1495 and M15/1841.
Previous exploration limited
The program consisted of 18 RC holes across 2,068 metres, with an average depth of 115 metres.
The deepest hole reached 214 metres, which represents the most extensive and deepest drilling ever conducted at North Dam.
The program is the first of its kind – previous exploration efforts in the area were limited to shallow gold drilling by former owners.
One of the key findings was the discovery of multiple pegmatite formations, with the largest downhole intersection measuring 85 metres in drill hole NDRC004.
These pegmatites, typically ranging between 10 metres and 47 metres in thickness, are hosted within mafic-schists and siliciclastics, and some areas exhibit signs of hydrothermal alteration, indicating potential for gold mineralisation.
CuFe has dispatched the first batch of downhole samples to a Perth laboratory for analysis.
Assay results, which are expected in October 2024, will determine the mineral composition and potential economic value of the pegmatite formations.
CuFe has cautioned that visual estimates of mineral abundance should not be relied upon in the absence of laboratory assay data, which will provide a more accurate picture of the concentrations and quality of the mineralisation.
CuFe’s first foray
This program marks CuFe’s first critical minerals exploration effort at North Dam, part of its commitment to expanding its portfolio of battery and technology metal projects.
CuFe executive director Mark Hancock said: “We are pleased to have completed the maiden drill program safely, in good time and within budget.
“The team has executed the program efficiently and the observations from our geologist, including the numerous and in certain cases long, pegmatite intercepts recorded look interesting.
“We are looking forward to receiving the assay results and commencing the data interpretation and building our knowledge of the geology and any mineralisation trends to assist in determining our next steps at North Dam.”