The Cambrian Mount Read Volcanics (MRV) is a belt of rocks approx. 30km wide located in Western Tasmania. The MRV hosts multiple known occurrences of base metal and precious metal rich mineralisation including three world class volcanic hosted massive sulphide deposits.
- Rosebery: >50Mt @ 13% Zn, 4% Pb, 0.5% Cu, 1.9 g/t Au & 132 g/t Ag (operational mine)
- Hellyer: 16.9 Mt @ 13.8% Zn, 7.2% Pb, 0.4% Cu, 167 g/t Ag, 2.5 g/t Au (mine closed, tailings retreatment operation)
- Mount Lyell: >312 Mt @ 1% Cu, 0.3 g/t Au (care & maintenance)
The VHMS mineralisation is hosted at the same time horizon through the MRV (approx. 500Ma age rocks – the “Holy Host”)
Iltani has lodged an application (ELA33/2022) to target a strategically located, highly prospective block (100km2) of the Mount Read Volcanic Formation – contains the “Holy Host” horizon
ELA33/2022 controls the ground between the world class Rosebery and Hellyer/Que River VHMS deposits and hosts multiple known occurrences of mineralisation plus widespread alteration zones.
High priority targets include Hollway (4.1m @ 11.1% Zn, 4.5% Pb and 68 g/t Ag including 1.0m @ 34.6% Zn, 14.8% Pb and 235 g/t Ag) and the Boco prospect where previous exploration has defined a pyrite-sericite-quartz alteration zone extending 1km along strike.
Iltani will review all historical exploration data and is working with Bruce Gemmell, an expert on the MRV and associated mineralisation, seeking to generate new drill targets and to utilise advanced geophysical exploration techniques to target blind massive sulphide deposits.