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22 Independence Group NL
REGIONAL
EXPLORATION AND
DEVELOPMENT
DISCOVERY
IGO is committed to transformational
value creation through exploration
discovery. The discovery portfolio
includes both highly prospective
brownfields opportunities and a number
of unique belt-scale greenfields projects.
During the year, IGO rationalised and
prioritised exploration activities across
the Company with a focus on in-ground
expenditures at Tropicana and Nova,
along with three belt-scale opportunities,
being the Fraser Range/ Tropicana Belt,
Lake Mackay and Bryah Basin projects.
A number of encouraging milestones
where achieved during the year with
completion of the:
•
Tropicana framework drilling as part
of the Long Island study including the
identified high-grade Havana south
ore-shoot;
•
Extensions to the Jaguar Operation
life of mine through exploration of
the Flying Spur and Arnage lens at
Bentley;
•
Advancement of exploration and
consolidation of the Albany Fraser
/ Tropicana belts including delivery
of anomalous results generated
from the Salt Creek JV, supporting
potential magmatic nickel sulphide
mineralisation; and
•
Multi-commodity mineralisation
intersected at Lake Mackay, providing
proof of concept from the early stage
reconnaissance program.
The year ahead promises to be exciting
with the platform in place for delivery
of organic growth. IGO is committed to
the investment of $25.5 to $33.0M for
exploration across the portfolio. Some
expected key milestones as part of the
FY17 work program include:
•
A focus on delivering additional value
through both resource extensions
and discovery of additional deposits
at the Nova Project and on IGO’s
extensive ground position on the
Albany Fraser / Tropicana Belt. This
will be driven by our understanding
of the Nova deposit and the evolution
of the belt, including the commitment
to world-leading embedded research
programs. Technology will also play
an important part, with the planned
execution of a 3D seismic survey
over the Nova deposit. We will also
have underground drilling platforms
in place to allow testing for potential
repetitions to the Nova and Bollinger
orebodies at depth.
•
The completion of the Tropicana
resource extension drilling program
during FY16 will provide the
framework to unlock the full potential
of Tropicana as part of the Long
Island study. The plan is the delivery
of the Mineral Resource during the
September 2016 quarter and the Long
Island study in the December 2016
quarter. Exploration drilling will focus
on improved definition and extension
of the new Havana South high-grade
ore shoot, along with continuation on
the systematic regional exploration
program.
•
Exploration on the 50km of favourable
mineralisation stratigraphy for VMS
systems at Jaguar will continue
through FY17 along with the
recommencement of exploration at
Long designed to continue to extend
the life of mine.
•
An extensive systematic
reconnaissance exploration program is
planned for the Lake Mackay Project.
Exploration is at a very early stage
over the extensive land package.
Work programs which will be executed
during FY17 include airborne magnetic
survey, surface geophysics, soil
sampling and drilling of high-priority
targets.
•
Work on the Bryah Basin Project,
targeting a DeGrussa Cu-Au analogue
will include drilling to follow-up
several geochemical anomalies, along
with extending effective testing of
prospective stratigraphy over the
eastern portion of the project.
The year ahead promises to be exciting with the
platform in place for delivery of organic growth