Lake Mackay JV
LAKE MACKAY JV - NORTHERN TERRITORY
IGO 70% and Manager (JV with Prodigy Gold)
Lake Mackay JV project is located 400km west-northwest of Alice Springs, NT adjacent to the Western Australian border
Copper (Cu), Nickel (Ni), Gold (Au), Cobalt (Co)
The JV has approximately 7,600km2 of granted exploration licences and a further ~5,200km2 of licence applications over an unexplored Proterozoic terrane, characterised by polymetallic base and precious metal mineral systems.
Exploration is at an early stage and, until recently, has been limited to a single tenement.
Work in FY18 included diamond drilling at the Grapple Prospect, where reverse circulation drilling led to the discovery of copper, gold (zinc-lead-silver-cobalt) mineralisation. Further diamond drilling intersected the best mineralisation discovered to-date with encouraging results.
Ongoing regional soil sampling continues elsewhere on the project and has delivered encouraging polymetallic geochemical anomalies that require followup in FY19.
In addition, regional Spectrem airborne EM surveys have delivered anomalies for ground EM follow-up and drilling.