Paraburdoo

Paraburdoo PGE & Au Project WA (E47/2936 - 100% Boadicea)

The Paraburdoo Exploration Licence is located 25km west-northwest of the township of Paraburdoo in Western Australia and covers an area of 221km2. The Project is considered prospective for platinum, palladium, gold, copper and nickel, associated with a mafic volcanic/intrusive complex.

Work completed to date has highlighted a series of PGE and gold soil anomalies warranting further investigation including extensive, but modest tenor PGE, nickel & cobalt anomalism associated with the basal part of the ultramafic Pyradie Fm over a combined 15km of strike. Within this broader anomaly, three higher tenor (relatively) PGE prospect areas have been defined, namely Hope Creek, Breakneck and Bellary North. Of the three prospect areas, Hope Creek is the largest and strongest having a 5km long “Z” shape and generally averaging 300-400m in width. Peak PGE results are 126ppb Pd and 36ppb Pt.

Figure 9 – Paraburdoo Project – Palladium Soil Geochemical Results

During the quarter, the Pilbara Region experienced significantly increased interest in gold exploration based on conglomerate hosted (paleo-placer?) gold targets being promoted by a number of companies. As a result, companies including Novo Resources, Southern Hemisphere Gold and Marindi Metals Ltd have acquired licences adjoining Boadicea’s Paraburdoo project 

The conglomerate gold targets are reportedly within rocks of the Mt Roe Basalt and Hardey Formation that form the basal part of the Fortescue Group and these rocks are exposed within the Bellary Dome which adjoins the Paraburdoo Project to the east. The GSWA have mapped the Hardey Formation adjoining the southeast corner of the Project area and these rocks are interpreted as continuing into the Project area, but “buried” beneath the Boongal and Pyradie Formations which dominate outcrops within the Project area.

Based on a recently completed review, the Company will be focussing gold exploration efforts towards both paleo-placers and the more likely orogenic targets (eg Paulsens style). This work will include soil geochemical sampling and metal detecting with a focus in the southeast corner of the Project area, around the historic Bellary 1 gold prospect, and the south-central part of the project where remote sensing ASTER data has highlighted interpreted hydrothermal alteration systems.