Kimberley Projects - Western Australia

Peak Minerals has 7 projects in the East Kimberley and they can be divided into:

Magmatic sulphide, or
Sedimentary copper related mineralisation.

The Magmatic sulphide projects are McGowan, Lamboo and Ten Minute with McGowan being magmatic sulphide copper dominant, Lamboo magmatic nickel sulphide dominant and Ten Minute being an IOCG target.

The sedimentary copper targets are Ilmars, Dead Horse, Kinahan and Carson.

Kimberley South Projects

McGowan

The project is located 90km to the southwest of Halls Creek and immediately accessible by the Great Northern Highway. McGowan is underlain by sedimentary rocks and mafic-ultramafic intrusives associated with the Lamboo Complex within the Halls Creek Orogen. The area has been historically explored for gold and copper mineralisation, most recently by Northern Star Resources for gold.

Peak is targeting a large, structurally complex intrusive interpreted to be part of the Sally Downs Supersuite. Substantial copper showings found on surface are likely related to remobilised mineralisation along shears from a deeper magmatic source similar to the Greenrocks model.

Three gabbroic gossans have been mapped and sampled with noteworthy Cu, Au and Ag mineralisation. Mineralisation consists of malachite and azurite associated with quartz. Limited, shallow drilling has previously tested the gossans.

Recent Activity

In April 2021 a reconnaissance field program identified the three gossans associated with copper mineralisation. Mapping suggested these gossans were of gabbroic origin and gave confidence that these were Lamboo intrusives. Sampling across the central area of the tenement yielded 10 samples with greater than 5% Cu and up to 22% Cu.

Lamboo

The Lamboo project is located approximately 40km west of Halls Creek and is within the prospective Halls Creek Orogen. The area has been historically explored for gold, nickel and copper. A geochemical anomaly occurs over a lateritised ultramafic/mafic intrusive in a quartz sericitic schist. The intrusion pinches out to the north-northeast and to the south is covered by black soil alluvium/lateritic scree colluvium to the west. Work completed by previous explorers has identified this project to be a magmatic nickel sulphide target within the Lamboo Intrusive Complex.

Historic soil surveys have identified a coincident Ni-Cu-Co anomaly that is 900m x 350m. Recent rock chip sampling of the gossan by Peak nreturned 0.84% nickel, 0.27% copper.

Kinahan

Kinahan Project is located within a Phanerozoic basin within the highly prospective Halls Creek Orogeny. The project area lacks soil or rock chip sampling. Cu-Ag mineralisation has been detected on the property at Mt Kinahan mineral occurrences (Figure below). Heritage negotiations are currently underway between Peak and the KLC on behalf of the Jaru People.

Ilmars

The Ilmars Project comprises several prospects defined historically as Ilmars, Little Mt Isa, Twin Hills and Sophie Downs. Parts of the project are easily accessible directly off the Great Northern Highway and located 20km to the northeast of Halls Creek. The Halls Creek Fault dissects the property separating metamorphic domains of the highly prospective Lamboo Complex. The property has been explored for zinc, lead, copper and gold with some success. Impressive rock chip results and drill intersects of Zn-Pb-Cu mineralisation occur east of the Halls Creek Fault zone, along a parallel steeply northwest dipping structure.

The Model

Previous explorers have considered sedimentary exhalative model (SEDEX) or the volcanoegenic massive sulphide (VMS) models. There are similarities between the Mt Isa Pb-Zn-Cu deposit in Queensland and mineralisation styles west of the Halls Creek Fault. The Halls Creek Fault Zone and splay structures to the east, have acted as pathways for mineralising fluids. Mafic intrusives mapped to the west of the Halls Creek Fault may lend to magmatic deposits.

Mineralisation

Extensive rock chip and soil sampling has occurred within prospective zones of the tenement. RC drillholes have been drilled into the Halls Creek footwall structure which hosts mineralisation. Mineralisation seen in rock chips consists of chalcopyrite, pyrrhotite, galena and sphalerite hosted in calc-silicate and laminated calc-silicate rocks.

Recent Activities

A reconnaissance field program was undertaken in April 2021, access issues at the time prevented sampling of the eastern extremity of the property. Samples from the Sophie Downs and Little Mt Isa are currently at the lab.

Ten Minute

The Ten Minute Project is located approximately 35km west of Halls Creek.

The project contains rocks of the Tickalara Metamorphics sequence that have been intruded by mafic to ultramafic sills, dykes and plugs of the Sally Downs Supersuite. Overlying these units are the younger Palaeoproterozoic sedimentary sequences of the King Leopold Sandstone and basaltic and volcano-sedimentary sequence of the Carson Volcanics.

Historic base and precious metal mineralisation in the area is typically associated with the layered basic intrusions of the Sally Downs Supersuite and the contact zone of the intrusions with the Tickalara Metamorphics sequence.

Recent Work

A field sampling program occurred over this tenement in April 2021 aimed at confirming the presence of mafic/ultramafic intrusions.

Deadhorse

Deadhorse tenements overlies the Carson Volcanics unit. The mineralisation model is suggested as sedimentary hosted copper mineralisation. Mineralisation in the area is associated with the Carson Volcanic unit however, further work on this tenement is warranted to understand the relationship of the mineralisation with the surrounding lithologies. A sampling program in April 2021 by Peak confirmed the presence of mineralisation with anomalous Pb-Zn-Cu values.

Carson

The project is approximately 160Km north of Halls Creek, The Carson project covers 250km of highly prospective strike extent of the Carson volcanics. These volcanics remain completely untested by modern geophysical methods. Carson project has a colourful history, having been owned in the 1970s by once-millionaire Perth developer Alan Bond.

A joint venture between Bond-backed Pacific Island Mines and Planet Gold had reportedly uncovered a major low-grade copper occurrence about 128km south of Wyndham in WA’s Kimberley district. This led to interest from heavy hitters such as Anglo American. During this time an impressive number of copper occurrences were noted in the region.

Previous exploration was completed by Planet Gold in 1968 and Anglo American entered as a partner through to 1971. Significant drilling results included:

DDH DDR4: 33.8m at 0.89% Cu from 37.5m
- including 12.77m at 1.66% Cu
DDH DDR5: 41.8m at 0.27% Cu from 125.8m
DDH DDR8: 13.7m at 0.57% Cu from 121.9m
DDH DDR10: 38.1m at 0.37% Cu from 38.3m
DDH DDR23: 6.9m at 0.51% Cu from 164.9m

Rock chip sampling undertaken by Pegasus Minerals subsequently has reported grades of up to 12.83% Cu.

The Model

Studies have suggested that exploration should focus on sediment hosted style mineralisation akin to Zambian Cu belt target. Historic mineralisation occurring within basalt and sandstone lithologies.