Lake Mackay JV
LAKE MACKAY PROJECT
IGO - up to 70%
Copper (Cu), Gold (Au), Nickel (Ni), Cobalt (Co)
Lake Mackay is a joint venture between IGO, Prodigy Gold NL and Castile Resources Pty Ltd (in parts) with IGO having earned up to a 70% interest over a total of 15,630km2 of tenements straddling the Northern Territory and Western Australian border.
Recent work programs have included ground MLEM, RC drilling and soil sampling programs, all of which confirmed the strong prospectivity of this region.
During FY20, drill testing confirmed the Arcee Gold Prospect, with mineralisation confirmed over approximately 600m of strike by strong RC drill results which included 12m @ 3.5g/t Au from 112m, including 8m @ 4.94g/t Au from 116m2.
At the Phreaker Prospect, a copper-gold zone was identified in RC drilling over 750m of strike, with this prospect to be diamond drill tested during FY21.
Rock samples from the Grimlock Prospect were subjected to metallurgical test work to understand the leachabilty of metals from highly cobalt-nickel-manganese enriched duricrust. These tests showed encouraging initial results, with atmospheric leaching delivering extraction results of 97.6% for cobalt, 85.2% for nickel and 99.2% for manganese 3.
2 ASX Release – PRX: Lake Mackay JV Update – New Gold Prospect Identified, dated 16 October 2019
3 ASX Release – PRX: Lake Mackay JV – 97% Co & Mn recovered in Leach Extraction, dated 12 December 2019