Level 12, 225 George St
Sydney NSW 2000
+61 2 8599 7904
Lake Yindarlgooda Project
The Lake Yindarlgooda project is in the Hampton District of the Kalgoorlie-Boulder Shire, approximately 63km due east of Kalgoorlie and 25km southeast of Kurnalpi in the Eastern Goldfields region. The project comprises an Exploration License (E28/2259) of approximately 8 km2 in area (800 hectares).
The project is currently held in a 50:50 joint venture with Australian public company Metal Rocks Ltd. TP Energy has the right to increase its project interest to 80%.
The Lake Yindarlgooda area has been subjected to limited modern (post 1970) exploration. However, a historical lateritic Nickel-cobalt resource (non JORC) was defined within the project area in 1968, based on percussion and diamond drilling. The resource was estimated at 1 million tonnes @ 1% Ni. Interpretation at that time suggested that the mineralisation can be classified as a Ni-Co-Ag-Cu-Cr-Mo deposit, with anomalous values for other minerals (Au, Pt, Pd, and Zn). Although the nickel resource is mostly laterite hosted, there is potential for Volcanogenic Massive Sulphide (VMS) mineralisation in this and other areas within the project.
The Company has received initial geological advice from industry consultants CSA Global Consulting that there are potentially four mineralisation styles at the project in all four quadrants, from north-west to northeast and from south-east to south-west. Most exciting is the presence of gold, silver, copper, lead, zinc, sulphur and arsenic together which is a telling signature for Volcanic Massive Sulphide (VMS) mineralisation.
Based on the results mentioned above and the advice received, TP Energy intends to accelerate a more detailed exploration of the Lake Yindarlgooda Project in the short term. Lake Yindarlgooda represents one of TP Energy’s smallest yet easiest and least expensive projects to explore. The project is close to roads, infrastructure and mining communities, with access to a skilled work force and quality suppliers. The project is also close to the Kalgoorlie Nickel Smelter (KNS). TP Energy is preparing a deeper drilling programme at Lake Yindarlgooda based on the confirmed positive results we received earlier in June. The project continues to represent one of our flagship projects for 2019 and we have continued to receive positive feedback from geoscientists.
The Company has completed approximately 470 drill holes in the three stages of the programme, each to between 0.5 and 1.5m in depth. Detailed interpretation of the results is ongoing with preliminary observations by the Company’s geological consultants suggesting that multiple high priority targets exist within the 8 km2 project area, including:
- Nickel sulphide associated with ultramafic saprock, in the northeast and central-east.
- Ferruginous nickel laterite in the south-east.
- Shear hosted gold in ultramafic saprock, more likely shear hosted.
- Potential VHMS (Au-Ag-Zn-Cu-Pb-S-As) to the south-west.
Figure 1 illustrates the regional location of the project with respect to the multiple known nickel and gold deposits and/or mines in the highly prospective greenstones of the Eastern Goldfields.
Figure 2: Auger hole results for Ni, Co and Cu pictorially overlaid on TMI imagery
Figure 3: Auger hole results for Au pictorially overlaid on TMI imagery