URL: https://geoscience.data.qld.gov.au/dataset/cr125028
Exploration Permit Minerals (EPM) 26438 was granted to Newcrest Operations Limited (Newcrest) on 24 April 2018 for a term of five (5) years. EPM26438 comprised one hundred (100) sub-blocks, encompassing an area of approximately 325km2. EPM26438 formed part of the company’s Isa North Project, which consisted of six (6) granted Exploration Permit Minerals; EPM26437, EPM26438, EPM26439, EPM26440, EPM26441 and EPM26442, located approximately 170km north of Mount Isa and approximately 65km southeast of Burketown in northeast Queensland.
The Mt Isa Mineral Province has been a significant producer of gold and base metals and numerous world class gold-copper and sediment-hosted base metal deposits. The Fe-oxide-(Cu-Au) family of deposits represent an attractive target to Newcrest given their large size, polymetallic character, and amenability to bulk underground mining. Newcrest believed opportunity existed to investigate the potential for large Fe-oxide Au-Cu deposits under cover within prospective structural belts and along major mineralising structures. Minimal exploration has been conducted beneath cover within the northern sections of the Western Succession of the Mt Isa Inlier. However, assessment of open file geophysical and geochemical data revealed the presence of multiple prospective targets.
Exploration activity across Newcrest’s Queensland exploration tenure was significantly disrupted due to the exceptional circumstances associated with the COVID-19 pandemic. Government imposed restrictions as well as health considerations of employees, landholders, traditional owners, and business partners severely affected Newcrest’s ability to effectively implement work programs.
Results from drilling completed by Newcrest on adjacent Isa North resource authorities suggest that the cover depths are at the limits of current economics. In addition, financial pressure from other exploration projects within Newcrest’s portfolio has resulted in the decision to surrender EPM26438.
Pursuant to section 161 of the Mineral Resources Act 1989 approval to surrender EPM26438 was given on 28 May 2021.
This Final Report is prepared by Newcrest for the reporting period 24 April 2018 to 28 May 2021. From the grant of EPM26438 to the resource authorities surrender Newcrest completed the following exploration activities:
• Technical review and evaluation of historic exploration data
• Reprocessing of regional magnetic data
• Reprocessing of regional gravity data
• Solve Geosolutions geophysical processing
• Technical review completed by Professor Rick Valenta
• Project review
This report is provided in accordance with reporting obligations under the Mineral Resources Act 1989 and Mineral Resources Regulation 2013 and is structured and formatted is accordance with PD5 Minerals and Coal Reporting Practice Direction, September 2020.