We asked Carl Swensson from Global Metals Exploration (ASX:GXN) to give us his opinion and thoughts about the Mt. Venn exploration results.
“The significance of the intersections are that they show that the base of two ultramafic magma injections in the Mt. Venn Gabbro Complex are mineralised as shown in other places by previous explorers (Helix and Tasmanex). In this style of mineralisation, copper and nickel sulphides separate out under gravity in ultramafic magma chambers as the magma cools and crystallises, forming an enriched copper-nickel zone at the base of that pulse of magma.
Examples of this style of mineralisation are the giant Sudbury deposit in Canada and the smaller Sallay Malay deposit in the Kimberly of Western Australia. The two zones that are demonstrably mineralised at Mt. Venn are traceable for an aggregate 10-12km so while the recent intersections are lower in grade than we want and a bit thin, there is plenty of scope to find better mineralised positions within the Gabbro Complex.”
Disclosure: Global Metals Exploration NL is a sponsoring company. Please see our disclaimer for current positions.
