Riedel holds two exploration licences (E52/2394 and E52/2395) covering an area of more than 425km2 in the highly prospective Doolgunna-Thaduna region of the Proterozoic volcano-sedimentary Bryah and Yerrida Basins and Archaean Baumgarten greenstone belt in the Marymia Inlier.

The exploration licences are located approximately 55km north-east of Sandfire Resources NL’s DeGrussa copper-gold mine, 12km east of Sipa’s Thaduna copper prospect and 12km east-north-east of Ventnor’s Green Dragon and Thaduna copper deposits.

Recent exploration results reported by Sipa and Ventnor highlighted the discovery of significant sedimentary-hosted (the Enigma Prospect) and structurally-controlled copper mineralisation (Thaduna and Green Dragon deposits) in Yerrida Group sedimentary rocks.

The Yerrida Basin is interpreted to be in faulted contact with the sedimentary and volcanic rock package belonging to the Bryah Basin, host to the rich DeGrussa copper-gold deposits, further illustrating the strongly mineralised nature of the entire stratigraphic sequence in the relatively under-explored Yerrida and Bryah Basins.

In addition to the prospective geology hosting the known DeGrussa and Enigma copper mineralisation, the deposits are also characterised by proximity to the regionally significant Jenkin Fault.  This combination of favourable geology and structure may represent a highly-prospective exploration target area within a north-east trending, mineralised tectono-stratigraphic corridor which trends into the south-western portions of Riedel’s Marymia tenements.

The exploration potential of Riedel’s tenements is further illustrated by significant RAB and RC drilling programmes being carried out by Lodestar Minerals Limited, either underway or planned, in close proximity to Riedel’s tenements to:

  • Test VTEM geophysical targets, and;
  • Test geochemical targets along strike from Sipa’s Enigma prospect which trend towards Riedel’s exploration licences

Exploration Targets

Riedel’s Marymia exploration licences hold potential for the discovery of mineral deposits including:

  • Sedimentary-hosted copper deposits in Proterozoic Yerrida Basin stratigraphy which onlaps the Marymia Dome, and;
  • Structurally controlled gold, copper and nickel deposits in the Baumgarten Greenstone Belt of the Archaean Marymia Inlier.

Yerrida Basin

Yerrida Group sedimentary rocks are present in the south-western portion of Riedel’s tenements and in the eastern and northern areas prospective Proterozoic sedimentary rocks are also present, onlapping and marginal to the Marymia Inlier.

Since the recent DeGrussa, Enigma and Thaduna discoveries, the Proterozoic rock suite surrounding the Marymia Inlier has become increasingly important and Riedel’s tenements may hold potential for both sediment-hosted copper and SEDEX-type lead-zinc-silver deposits.  Important precursors and associations for the formation of significant sediment-hosted and/or SEDEX deposits which are apparent in Riedel’s tenements include:

  • Proximity to major regional structures to provide fluid pathways;
  • Proximity to long-lived, stable basement highs to focus fluid flow;
  • Prospective host sedimentary rocks, and;
  • Presence of igneous intrusives or deep-seated magmatic rocks to provide the heat source to drive long-lived hydrothermal systems.

Baumgarten Greenstone Belt

Rocks belonging to the Baumgarten Greenstone Belt (“BGB”) underlie the central portions of Riedel’s exploration licences.  The greenstone belt forms the eastern domain of the Marymia Inlier, an Archaean granite-greenstone terrane which hosts numerous significant gold deposits and mines in the western portion (the Plutonic Well Greenstone Belt), including gold production of more than 4.7M oz since production commenced in 1990.

Previous exploration over the eastern BGB is relatively sparse due to the relatively poor geological understanding of the area and the presence of extensive, weathered cover sequences which may mask the location of important regional structures and any associated buried deposits.

Most historical exploration work occurred between 1987 and 1996, primarily focused on targets such as shallow laterite-hosted and supergene gold in deeply weathered areas, or in areas characterized by outcrop and aeromagnetic targets, leaving large areas of the greenstone belt only poorly explored, or not at all.  The BGB has been shown to be regionally anomalous in gold, as indicated by drill intercepts of 4m @ 6.4g/t Au and 3m @ 9.5g/t Au at Champagne as well as 5m @ 4.9g/t Au and 2m @ 8.0g/t Au at Chardonnay. The Company considers that the area holds strong prospectivity for structurally-controlled gold, copper and nickel deposits below cover or in deeply weathered regions.