Lake Mackay

Lake Mackay Project - Western Australia

The Lake Mackay project was farmed out in August 2009 to Meteoric Resources Ltd (MEI) who can earn an initial 51% equity in the project by completing 7000 m of RAB/AC drilling by June 2010, and spend $400 000 on exploration over a 3 year period. Under the agreement MEI can earn an additional 19% by expending a further $400 000 on exploration within a further 2 years.

Beadell was awarded a Western Australian government grant to co-fund first pass aircore drilling at Lake Mackay targeting Iron Oxide Copper Gold (IOCG) mineralisation in this previously unexplored but highly prospective belt. The Lake Mackay project covers an area of 840 km ² over two adjacent project areas named Dwarf Well and Mt Webb. Key coincident aeromagnetic and gravity geophysical anomalies have been identified within the project areas and will be the focus of exploration.

Dwarf Well Aeromagnetic image with 1 km x 1 km soil sampling copper results

Dwarf Well Prospect

The Dwarf Well prospect encompasses two distinct coincident 'bullseye' magnetic and gravity anomalies which are considered to be highly prospective for IOCG type mineralisation. First pass field work was completed at Dwarf Well in May 2009 with wide spaced, 1 km x 1 km magnetic lag sampling believed to be first ever field reconnaissance work by anyone in this region.

The western geophysical anomaly named 'Radiator' is completely covered by aeolian sand, however a single metre-wide outcrop immediately northwest of the geophysical anomaly contained brecciated fine grained felsic rock with abundant iron oxides and elevated copper of 313 ppm.

Limited work was completed on the eastern geophysical anomaly, however a single traverse across the northern part identified widespread brecciated and altered felsic rocks with disseminated iron oxides. While no outcrop was observed directly over the geophysical anomalies a highly anomalous soil result of 423 ppm copper with coincident elevated gold of 5 ppb is situated east of the geophysical anomaly.

Mt Webb Prospect

First pass soil sampling, rock chip sampling and geological / regolith mapping was undertaken at the Mt Webb prospect in May 2009. Magnetic lag and sieved soil samples were collected on a 1 km x 1 km grid with a highest gold result of 6 ppb gold. The area is characterised by shallow aeolian sand cover with sporadic outcrop. Widespread deformation and alkali alteration was observed in the volcanic and granitic rocks associated with the Mt Webb granite and coeval Pollock Hills volcanic indicating a good source and host rock setting for IOCG mineralisation.