Osmond Resources (ASX:OSM) reports recent handheld XRF (pXRF) soil sampling has identified rare earth element (REE), cobalt-vanadium, and zinc anomalies at the Sandford Project, located in western Victoria.
During August and September this year, the soil samples collected from across EL6958 were dried, sieved to a sub 2mm fraction and analysed with the pXRF.
A main central zone of anomalous REE measuring approximately 18km long by 4km wide was identified from the pXRF analysis.
The nature of the REE mineralisation is yet to be confirmed or understood, and Osmond believes the anomalism is associated with the Jurassic aged trachytic and phonolitic lava flows of Dens Hill Formation and overlying sediments.
The company also expects the overlaying sediments of the Cretaceous aged Eumeralla Formation may obscure a significant portion of the Dens Hill Formation within the Sandford Project Area and provide the potential for a much larger footprint for REE accumulations.
In addition to the ‘highly encouraging’ REE pXRF results, the results have identified a cobalt-vanadium anomaly, presumably associated with the mafic volcanics.
Osmond also identified ‘discrete’ but ‘significant’ anomalous zinc, adding to the ‘prospectivity’ of the region.
The company is currently preparing the samples for dispatch to the laboratory for assay.
Osmond reports it will follow up with a detailed soil sampling and mapping program to define the extent of the anomalism if the assays confirm REE and cobalt-vanadium mineralisation.
Osmond Resources Executive Director Andrew Shearer said the soil samples have helped the company identify areas of multi-element potential.
“Soil sample pXRF analysis has provided the company with areas of interest to follow-up.
“The results have helped identify areas of multi-element potential on our Sandford Project and we are now eagerly awaiting assay results.
“The large central REE anomalous zone … is encouraging and warrants laboratory analysis and likely follow-up exploration”
“The large central REE anomalous zone, as identified in the wide sample spacing, is encouraging and warrants laboratory analysis and likely follow-up exploration with additional sampling, reconnaissance mapping and potentially drilling.”
Osmond Resources is a mineral and exploration company committed to increasing shareholder wealth through the exploration, development and acquisition of mineral resource projects.
The company was formed with the purpose of assembling a portfolio of projects predominantly located in the Gawler Craton region of South Australia and the Glenelg structural zone of western Victoria.
Since its incorporation, Osmond has secured agreements for a number of tenements considered ‘highly-prospective’ for gold, copper, nickel, and REE.
Osmond has entered into acquisition agreements in South Australia with Fowler Resources for exploration tenements EL6417 (Yumbarra Tenement), EL6615 (Tallacootra Tenement) and EL6692 (Coorabie Tenement), and with Kimba Resources for EL6603 and EL6604 (Fowler Tenements); and in Victoria with Providence Gold and Minerals for EL6958 (Sandford Tenement).
The Sandford Project is located in western Victoria is considered ‘prospective’ for Avebury-style nickel, SEDEX base metals, porphyry Cu-Au, porphyry Mo-Au, IRGS-style deposits and orogenic Au deposits related to major structures that pass through the tenement.
There is also REE potential in the tenement, for clays developed at the base of the ‘extensive’ duricrusts that formed from the deep weathering of basement granitoid bodies with elevated REE concentrations.
Initial targeting on the Sandford Project has commenced and will seek to identify prospective regions for the formation of the REE hosted clays and also base and precious metal occurrences.
The Fowler Domain Projects straddle the boundary of the geological domain in far west South Australia.
The major crustal scale domain bounding structures that traverse the tenements have potential to host structurally upgraded magmatic Ni-Cr-Cu-PGE, layered intrusive-hosted Ni-Cr-PGE, IOCG (Hiltaba Suite) deposits, intrusion-related (Tunkillia-type) Au, and orogenic Au.
While the proximity of the Fowler Domain Projects to nearby mineral occurrences is no guarantee that it will be prospective for an economic reserve, and recent discoveries by Western Areas (ASX:WSA) in the Fowler Domain have indicated the nickel-copper-sulphide ‘pedigree’ of the region.
The Yumbarra Project is located in the Nuyts Domain of the Gawler Craton and contains a ‘highly magnetic’ feature interpreted as a layered ultramafic intrusive.
Historical drilling has reported a best intersection of Ni-Co anomalism in basement drilling of 1357ppm Ni and 1066ppm Co.
There are also identified electromagnetic surveying targets yet to be drilled on this target.
Images: Osmond Resources Ltd