Bow River
Bow River Project (Ni/Cu/Co±PGE)
BOW RIVER PROJECT ¹
The Bow River prospect contains the Bow River intrusion located in the East Kimberley region of Western Australia. The mafic intrusion has been mapped over an area of 900m x 300m based on outcropping gossans and anomalous soil geochemistry. The surface expression of the intrusion has received most of the focus of historical exploration however, the broader ‘feeder zone’ of the mafic intrusive has received little attention.
A diamond drilling program was completed during Q3 of 2023. The drill program consisted of two diamond drillholes to a depth of 800m and 786m each, with both drillholes intersecting minor visual Ni-Cu sulphides.
Sulphide mineralisation intersected in both drillholes shows a strong correlation to the upper limit of the modelled gravity anomaly between approximately 330-360m depth, with the remainder of the gravity anomaly untested over the >1km strike extent. Downhole electromagnetic (DHEM) surveys were completed on both diamond drillholes to a depth of 690m (BRDD001) and 760m (BRDD002) during Q4 of 2023. The DHEM survey results identified weak off-hole anomalies within close proximity of the drillholes. Drill samples were sent to ALS in Perth for priority assay with results showing a clear correlation between nickel and sulphides as well as nickel and copper, supporting nickel copper sulphides are present.
Drilling was planned to target the deeper more primitive part of the intrusion thought to be related to the highest density gravity anomaly. The recent drilling stepped out from the historical drilling centred on the nickel-copper gossan, to the west by 1.2km and drilled to a depth of 800m, far exceeding the deepest historical drillhole of 180m.
DHEM surveys were completed to investigate potential conductors and, together with the assay data results, to assist in building greater geological confidence in the mineralisation model ahead of further drilling.
The Project area covers the Bow River intrusion thought to be similar in style and setting to Panoramic Resources’ Savannah mine, located approximately 60 kilometres further south. The relatively recent discovery (2014) of the Savannah North resource at depth adjoining the existing mine (effectively quadrupling the Ni-Cu-Co resource) has highlighted the prospectivity of E80/4955 given its analogous geological setting.
¹ ASX:LYN, Defining Ni-Cu Mineral System at Bow River, 26 September 2023
PREVIOUS EXPLORATION
The Bow River and Salt Lick prospects were discovered by Pickands Mather in 1965 during routine follow-up of anomalous copper values, obtained in a regional drainage geochemical survey. An extensive work program in 1966-67 included geological mapping, geochemical sampling, ground magnetics, IP surveys, drilling (both cored and percussion holes), and costeaning.
Subsequent work by Australian Anglo American (1977-1983) involved additional geological mapping, photogeology and Landsat studies, soil geochemistry, Dighem II surveys and a wide range of ground geophysical surveys (Crone EM, Pulse EM and ground magnetics), followed by diamond drilling. Soil geochemistry and mapping of gossans led to the identification of the Bow River Intrusive in which “Tickalara contacts” as well as complex “embayment” zones were reported to contain disseminated, stringer or massive sulfide dominated by pyrrhotite, pentlandite and chalcopyrite (NB: the exact percentage of sulfides were not recorded). The highest drill result obtained by Anglo was 3.17m @ 1.45% Ni and 0.41% Cu (DDH102, refer WAMEX report A9748 and Appendix 1).
Airborne magnetic and electromagnetic surveys were completed in 2002, to assess the effectiveness of previous drilling and to define new drill targets. The airborne EM survey outlined a strongly conductive zone coincident with the soil geochemical anomaly. Follow up of the airborne survey anomalies with a ground-based EM system led to the recognition of six discrete conductors, several of which had not been tested by previous drilling. Drilling of electromagnetic conductor targets intersected broad zones of low-grade nickel mineralisation in disseminated to massive sulphides up to 20m thick (WAMEX Report A65634).
The combined results of historical work completed to date provides Lycaon with a compelling prospect to discover primary nickel copper sulphides at depth within the two layered mafic intrusions within E80/4955. Lycaon intends to follow on from this prior work that identified high grade nickel, copper, cobalt (±PGE’s) mineralisation with further drilling and geophysical surveys.
