Northern Star Resources Ltd 100% (U3O8 Ltd: rights to explore for uranium)
The Wilson River Project consists of one exploration licence and is situated 125 km north of the regional centre of Halls Creek in the Kimberley Mineral Field, Western Australia.
Geologically the project is located within the highly mineralised Halls Creek Mobile Belt which hosts Nicholson’s gold deposit, the Savannah and Copernicus Nickel Mines, Argyle Diamond Mine, Koongie Park copper-zinc deposit and platinum / palladium mineralisation. Local geology includes the ‘Whitewater Volcanics’, comprised dominantly of felsic volcanic and volcaniclastic rocks, intruded by granitoids of the Paperbark suite.
Northern Star has previously focused on exploring for epithermal gold/silver mineralisation within the Whitewater Volcanics and systematically built a portfolio of exploration targets based on a favourable geological model. The model was reassessed following further drilling by Northern Star in 2008, and although the epithermal model was valid, analysis suggests there is not the fluid flow required in the system to support economic mineralisation. Consequently only the most prospective area, the Range Prospect, was retained.
The Range prospect was discovered by Northern Star, where outcropping <5m wide quartz veins returned rock chip assays up to 40.8g/t Au (10.5g/t Ag). Numerous drill campaigns targeting quartz veins in the area have proven successful in defining anomalous epithermal mineralisation. Best Au-Ag values occur at shallow depths near the intersection of the Trudi and Graham veins:
Although grade decreases with depth, additional exploration along strike has the potential to outline small tonnage but high grade mineralisation which could add value to Northern Star’s growing gold portfolio.