(62 tenements – 17 granted)
The Capricorn Project is located along the northern margin of the western Bangemall Basin in the Ashburton region of Western Australia. It covers the northern side of the mid-Proterozoic aged Bangemall Basin and includes 150km strike of the major Talga Fault, recently identified by the Geological Survey of Western Australia, and a further 80km strike of interpreted extensions to the southeast. The Talga Fault separates shallow dipping rocks of the Pingandy Shelf to the north and the more steeply dipping compressed and folded sedimentary rocks of the Edmund Ford Belt to the south.
In 2004 detailed mapping by the Geological Survey of Western Australia (GSWA) identified the Talga fault in the western part of the Proterozoic Bangemall Basin of Western Australia and recognized it’s significance in both the formation and sedimentation of the Bangemall Basin.
Basin margin growth faults within other Proterozoic terrains in Australia and the world can sometimes host world class base metal and uranium deposits. Aurora’s exploration model is to explore for Mt Isa style lead, zinc, silver and copperdeposits which are associated with major faults.
In early 2006 the GSWA released a large geochemical database of historical surface exploration results across the Bangemall Basin and adjoining basins in Central Western Australia. Aurora had already been compiling airmagnetic data, and during 2006 it greatly expanded its airmagnetic and uranium channel radiometric databases.
The compilation of this data led to the recognition by the Company of the potential significance of the Talga Fault and resulted in Aurora expanding its Capricorn Project exploration licence applications.
Aurora’s research to date indicates that there has been only limited previous exploration along the Talga Fault; most previous exploration appears to have been concentrated mainly on the Pingandy Shelf sediments to the north east, where stratiform lead and zinc mineralization was discovered.
Targets sought are base metal massive sulphide deposits, such as the large lead-zinc deposits of Northwestern Queensland (HYC, Century, Lady Loretta & Mt Isa), replacement copper and stratabound uranium deposits.
The Company contracted a survey company to conduct a VTEM survey over the entire length of the Talga Fault Zone, in a 5km wide corridor, which commenced in late September 2007.
The survey utilized the VTEM (Versatile Time-Domain Electromagnetic) system to locate conductors potentially caused by massive base metal sulphide mineralisation, and a high sensitivity cesium magnetometer for mapping geological structure and lithology.
Following a ground inspection by the Company’s geologists, the size of the survey area was increased by approximately 20% to include additional targets on the northern side of the fault zone.
Aurora commenced its 2008 field exploration program at Capricorn Project in May with a 16 member field team mobilized to test 30 of the first 60 VTEM anomalies for base metals on granted tenements within the Knot area. The Knot is located along the South Eastern part of the Talga Fault zone. (see attached figure)
The anomalies currently being tested are part of over 200 VTEM anomalies outlined to date by the airborne geophysical survey conducted over the Talga Fault zone by Aurora Minerals in September 2007.
The surface prospecting and sampling program is backed by airborne (helicopter) support to enable faster access. Each discrete VTEM target is being systematically tested by a soil grid and geological prospecting. The Company’s Senior Field Geologist is also inspecting targets for visible signs of base metal mineralization, and rock chip sampling. The aim of this work is to identify geochemical anomalies for drill testing.
Aurora is exploring for world class Mt Isa-style base metals deposits at Capricorn. The project covers over 300km along the northern margin of the Bangemall Basin including the 150km Talga Fault zone, which was recently interpreted by the Geological Survey of Western Australia as the boundary between the Pilbara Craton and the Gascoyne Complex. Despite the high prospectivity of the area, it has seen little previous exploration.
The Company is currently planning drilling applications for early stage drill targets generated by the work at Capricorn.
The Company has 19 large Exploration Licences, with a further 44 Exploration Licence Applications. Current exploration is focussed on the granted tenements in the southern section of the Talga Fault zone.
The Talga Fault zone currently contains over 200 VTEM targets and more are expected as further information comes to hand.
Overall there are five large target regions making up the Capricorn Project:
At Wanna Syncline the Company will be targeting a regional north east trending structure for large SEDEX style base metals deposits and a strike extensive stratigraphic target for unconformity style uranium deposits. Capricorn East and Capricorn Far East cover parallel structures and possible extensions of the Talga Fault Zone.
Preliminary targets have been selected over the two regions. The Company is considering more modern airborne geophysical surveys at the Wanna Syncline, Capricorn East and Capricorn Far East to assist in the prioritisation of exploration activities in these areas once the tenements have been approved.