Iluka branches out with exploration

Iluka Resources has embarked on a systematic, staged exploration program...

  Iluka Resources has embarked on a systematic, staged exploration program to assess the multi-commodity potential of its 92,000sqkm tenement holdings across Australia, according to the company’s General Manager Exploration and Geology, Peter Benjamin.The company is in the early stages of assessing its extensive Eucla Basin tenement holding and its Neale Embayment prospect gold exploration program forms part of this assessment. Iluka is currently undertaking an extensive program of auger gold-in-calcrete soil sampling at its Neale Embayment tenements in Western Australia, located 60km northeast of the 4 million ounce Tropicana gold deposit in the Yilgarn Craton - Fraser Range zone.It is interpreted that the geological package hosting the Tropicana gold deposit is likely to continue onto Iluka’s Neale Embayment tenements, under a variable thickness of Tertiary cover. Mr Benjamin said Iluka also intends to shortly commence an early stage uranium assessment on specific tenements in the South Australian portion of the Eucla Basin. “Initial drilling activity will commence on the first two of a number of uranium mineralisation target areas defined by re-analysis of previous drilling results, as well as a regional 4,410 line kilometre Airborne Electromagnetic (AEM) survey completed in March,” Mr Benjamin said.“Iluka’s plan is to attempt to capitalise on its demonstrated exploration success and resource-to-reserve conversion record in mineral sands, by using in-house geological experience across various commodities, as well as external technical expertise, to assess non mineral sands potential on its acreage position, both in the Eucla Basin and Murray Basin tenements,” he said. “This approach represents a potential additional value generation stream to supplement the company’s continuing main exploration focus in mineral sands.”