Competent Persons Report for Prospecting Licences held by IMC

Transcription

Irish Mining Cooperative – IMC Exploration
Ireland
Competent Persons Report for Prospecting Licences
held by IMC Exploration in the Republic of Ireland
IMC Exploration 501.00231
IMC Exploration
CPR Ireland Prospecting Licences Rev8
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The Directors Enterprize Centre Mullingar Ireland June 2011 Competent Persons Report for prospecting Licences held by IMC Exploration in the Republic of Ireland SCOPE AND PURPOSE OF THE REPORT SLR Environmental Consulting (Ireland) Ltd ('SLR') of 7 Dundrum Business Park, Windy Arbour, Dublin 14, Ireland, has been commissioned by IMC Exploration Ltd (‘IMC’) to complete a Competent Persons Report (‘June 2011 CPR’) on IMCs exploration properties in Ireland. The CPR has been commissioned by IMC for fund raising and future listing of shares on the AIM PLUS market. The June 2011 CPR has been prepared on behalf of SLR of 7 Dundrum Business Park, Windy Arbour, Dublin 14, Ireland by Ms Roisin Goodman BSc, PGeo (No. 103), EurGeol (No. 202) and Dr. John Kelly, Phd, PGeo (No.118) and based on 1) Summary Report of the Prospecting Licence Areas held by IMC in the Republic of Ireland prepared by IMC staff: 2) information from previous exploration programmes as compiled from the Open File records of the Geological survey of Ireland, 3) in‐house experience on the geology of Ireland and 4) information from relevant websites, including the Exploration and Mining Division of the Department of Communications, Marine and Natural Resources of the Irish government. Ms Goodman has over 20 years experience as an exploration geologist, and has worked since 1991 with SLR (formerly CSA), specialising in mineral exploration programme management, due diligence and evaluation. Work includes extensive exploration experience in the Irish Carboniferous base metal orefield including participation throughout the exploration and prefeasibility stage of the major Lisheen base metal deposit, exploration programmes at Harberton Bridge, Loughshinny, Ballinalack, southwestern Tipperary, Cork as well as Navan Beds targets in the West Dublin Basin. Gold experience includes exploration on the Lecanvey and Sheffry Hills projects, geochemical exploration for Au in south Wicklow, independent review of the Clontibret Au deposit and exploration programme design and management on the southern part of the Lake Victoria Goldfield, Tanzania. More recently she has carried out numerous Independent Review and Valuation assignments in Greenland, Ireland, Germany, Norway, Tunisia, Macedonia, Albania and Southern Africa. Dr Kelly has 20 years experience as an exploration geologist, and has worked since 1991 with SLR (formerly CSA), specialising in Carbonate hosted Zn‐Pb exploration programme management and industrial mineral evaluations. He has worked on a broad range of deposit types including Irish‐Type base metals, MVT base metals, SEDEX base metals, VHMS base metals, shear‐hosted Au, and skarn‐
hosted base and precious metals. He has significant experience in resource delineation and reporting of reserves for aggregate and industrial mineral developments. Projects to date have included ground selection, grassroots exploration, advanced exploration projects, project management, project review and due diligence, preliminary and advanced resource assessment and relevant input to planning to develop defined resources. He is a professional member and immediate past‐president of the Institute of Geologists of Ireland, a professional member of the European Federation of Geologists and a member of the Institute of Materials, Minerals and Mining. He is also an honorary member of the Irish Association for Economic Geology. SLR
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SLR Consulting (Ireland) Ltd. has extensive experience of independent expert studies and has completed Expert Reports and Valuations for listings on the London, Copenhagen, Dublin, Vancouver, Luxembourg and Australian Stock Exchanges. Pursuant to its engagement, SLR has relied upon and assumed the accuracy and fair representation of all third party geological notes and reports information by IMC, most of which come from publically available sources. Subject to the exercise of professional judgement and except as expressly described herein, SLR has not verified the original data compiled in these reports. INDEPENDENCE OF SLR Other than for the purposes of completing the June 2011 CPR, neither SLR nor any SLR staff involved in its preparation have any commercial interest in IMC or any associated companies. Neither SLR nor any SLR staff will receive any interest in IMC or any associated companies as a result of undertaking the June 2011 CPR. SLR will be paid normal professional rates for reviewing the June 2011 CPR for IMC as laid down in Assignment Sheet No. Q011‐143 and Job no. 0231.00001. Fees paid to SLR will not be influenced by the content of the June 2011 CPR. Yours faithfully, Ms. Róisín Goodman Associate SLR Consulting (Ireland) Ltd. SLR
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TABLE OF CONTENTS EXECUTIVE SUMMARY ............................................................................................... 1 INTRODUCTION AND SCOPE ..................................................................................... 1 GEOGRAPHY AND INFRASTRUCTURE ..................................................................... 1 3.1 Physical Features ............................................................................................... 1 3.2 Climate................................................................................................................. 1 3.3 Transportation .................................................................................................... 2 3.4 Communications ................................................................................................ 2 EXPLORATION & DEVELOPMENT LICENSING REGULATIONS.............................. 3 4.1 Prospecting Licences ........................................................................................ 3 4.2 Fees ..................................................................................................................... 3 4.3 Permitting Minerals Development..................................................................... 3 4.4 Environmental Issues ........................................................................................ 3 MINERAL EXPLORATION IN IRELAND ...................................................................... 3 THE GEOLOGY OF IRISH GOLD MINERALISATION ................................................. 6 6.1 Gold Occurrences .............................................................................................. 6 6.1.1 Southeast Ireland ...................................................................................... 6 6.1.2 West of Ireland........................................................................................... 6 6.1.3 County Monaghan ..................................................................................... 6 6.1.4 County Kildare........................................................................................... 7 6.1.5 Northern Ireland ........................................................................................ 7 THE GEOLOGY OF IRISH BASE METAL MINERALISATION .................................... 7 7.1 Stratigraphic Controls........................................................................................ 8 7.2 Structural Controls............................................................................................. 8 7.3 Mineralisation ..................................................................................................... 8 7.4 Individual Deposits............................................................................................. 9 Table 1: Main deposits in Ireland (Source EMD 2011)..................................... 9 7.4.1 Galmoy ....................................................................................................... 9 7.4.2 Lisheen....................................................................................................... 9 7.4.3 Silvermines .............................................................................................. 10 7.4.4 Tynagh...................................................................................................... 10 7.4.5 Navan........................................................................................................ 10 PROSPECTING LICENCE AREAS CURRENTLY HELD BY IMC ............................. 11 8.1 Gold Mines’ River Block - Prospecting Licences 2239 & 3857..................... 14 8.1.1 Gold Mines’ River Block Geology/Structure......................................... 14 8.1.2 Gold Mines’ River Block Mineralisation ................................................ 15 8.2 The Kilmichael Licence – PL 2551 .................................................................. 16 8.2.1 Kilmichael Licence Geology/Structure.................................................. 16 8.2.2 Kilmichael Licence Mineralisation......................................................... 16 8.3 The Nenagh Block - Prospecting Licences 3668, 3677, 3426 & 3670 .......... 18 8.3.1 Nenagh Block Lithostratigraphy............................................................ 18 8.3.2 Nenagh Block Structure ......................................................................... 19 8.3.3 Nenagh
Block
Mineralisation,
Alteration
and
Lithogeochemistry .................................................................................. 20 8.4 The Tulla Licence - PL 3729............................................................................. 21 8.4.1 Tulla Licence Lithostratigraphy ............................................................. 21 8.4.2 Tulla Licence Structure........................................................................... 21 8.4.3 Tulla Licence Mineralisation, Alteration and Lithogeochemistry ....... 22 8.5 The Limerick Block – PLs 3550 & 3806 .......................................................... 23 8.5.1 Limerick Block Lithostratigraphy .......................................................... 23 8.5.2 Limerick Block Structure........................................................................ 24 8.5.3 Limerick
Block
Mineralisation,
Alteration
and
Lithogeochemistry .................................................................................. 24 SLR
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8.6 The Ballinasloe Block – PLs 2103 & 3460 ...................................................... 27 8.6.1 Ballinasloe Block Lithostratigraphy ...................................................... 27 8.6.2 Ballinasloe Block Structure.................................................................... 27 8.6.3 Ballinasloe
Block
Mineralisation,
Alteration
and
Lithogeochemistry .................................................................................. 27 8.7 The Shannon Licence - PL 3644...................................................................... 29 8.7.1 Shannon Licence Lithostratigraphy ...................................................... 29 8.7.2 Shannon Licence Structure.................................................................... 29 8.7.3 Shannon
Licence
Mineralisation,
Alteration
and
Lithogeochemistry .................................................................................. 30 9.0 RECOMMENDED FUTURE EXPLORATION PROGRAMME..................................... 31 9.1 Compilation of Historical Data ........................................................................ 31 9.2 Gold Areas Exploration Programme............................................................... 31 9.2.1 Gold Mines River Licences - PLs 2239 & 3857 ..................................... 31 9.2.2 Kilmichael Licence - PL 2551 ................................................................. 31 9.3 Base Metal Exploration Programme ............................................................... 32 9.3.1 Exploration Target Criteria for Base Metal PLs.................................... 32 9.3.2 Geochemical Surveying Planned........................................................... 32 9.3.3 Geophysical Surveying........................................................................... 32 9.3.4 Drilling ...................................................................................................... 33 9.4 Data Security..................................................................................................... 33 10.0 REFERENCES............................................................................................................. 34 10.1 Acknowledgements.......................................................................................... 36 11.0 GLOSSARY AND ABBREVIATIONS.......................................................................... 37 12.0 CLOSURE.................................................................................................................... 40 SLR
COMPETENT PERSONS REPORT ON PROSPECTING LICENCE AREAS HELD
BY IMC EXPLORATION IN THE REPUBLIC OF IRELAND
1.0
EXECUTIVE SUMMARY
IMC Exploration Ltd (IMC) has acquired thirteen prospecting licences (PLs) from the
Irish Government in 2011. Three of these are licensed for gold exploration in
southeast Ireland with the remaining ten licences for base metal exploration in the
Irish Midlands.
IMC intends to undertake an exploration programme that includes a comprehensive
historical data compilation and review, geochemical sampling, geophysical data
capture/processing and ultimately drilling based on the aforementioned analyses.
Over the past two years the company has conducted a review of historic mineral
exploration data utilising the extensive experience, knowledge and expertise of the
team. IMC considers their licences to be amongst the most prospective exploration
licences currently available in Ireland; this Competent Person’s Report reviews and
outlines the conclusions and criteria used by IMC in the selection of prospecting
licences.
Gold
IMCs three gold prospecting licences are located in the southeast of Ireland. Two of
these are located within the well known Avoca (VMS) mineralised belt in Co. Wicklow
and in an area having highly anomalous gold values in stream sediments. Although
much historic extraction of alluvial gold was conducted in these two areas and gold
occurrences were found in trenching with grades of up to 42.5g/t, no economic
deposit has yet been found. It is therefore considered that these areas have
exploration potential.
The third licence for gold exploration is located in north Co. Wexford where a
mineralised quartz vein 0.6m in width is present which graded 18.24g/t Au (Irish
Marine Oil, 1999)..Historic drilling has intersected a vein quartz with visible gold @
26m depth which assayed 35.04g/t Au over 0.7m. (Deevy, 2002)
Base Metals
IMC’s ten base metal PLs are situated within the world class Irish Base Metal
Province which hosts a number of economic Zn/Pb deposits such as the Navan and
Lisheen deposits, as well as the recently discovered Kilbricken and Pallasgreen
deposits.
In conclusion, given the “exploration friendly” environment promoted by the Irish
Government, the country’s infrastructure, the previous success of other operators in
Ireland together with the materials, criteria and rationale used by IMC for the
selection of these prospecting licences, it is considered that the selection of licences
have sound and proper potential.
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INTRODUCTION AND SCOPE
Ireland is a stable Republic where the government encourages mineral exploration
through security of tenure, simple regulatory framework, low regulatory overheads
and the provision of free historical exploration data.
Ireland has a long mining tradition to the present day with a diverse geology, a wealth
of mineral potential together with a highly developed infrastructure.
IMC has acquired thirteen prospecting Licences from the Irish Government in 2011.
Three are licensed for gold exploration and eight licences for base metal exploration.
IMC intends to undertake an exploration programme that includes historical data
compilation and review, geochemical soil sampling, geophysical data
capture/processing and ultimately drilling based on the aforementioned analyses.
Ireland is host to one of the great ore fields of the world. Since 1960, 14 significant
(>1Mt) zinc-lead deposits have been discovered in the Carboniferous carbonate
succession of the Irish Midlands. Ireland is ranked first in the world in terms of zinc
discovered per square kilometre, and second in the world with respect to lead.
Large tracts of Ireland are also underlain by metasediments and metavolcanics of
Proterozoic and Lower Palaeozoic age which are known to contain significant VMS
mineralization, e.g. Avoca, 16Mt @ 0.6% Cu (Williams et. al, 1986) and auriferous
mesothermal quartz veins.
The suitability of Ireland for mineral exploration and development is proven by the
discovery and development of five world class and numerous other smaller base
metal deposits since the early 1960s. Together, total production for these deposits
has been over 165Mt of ore.
3.0
GEOGRAPHY AND INFRASTRUCTURE
3.1
Physical Features
The Republic of Ireland is located in Western Europe, occupying five-sixths of the
island of Ireland in the North Atlantic Ocean, west of Great Britain. The total area is
70,273 km2 with 68,883 km2 land and 1,390 km2 water. Elevation ranges from Atlantic
Sea Level up to the summit of Carrauntoohil in the southwest at 1,041m.
The Base Metal Province is characterised by a terrain that is mostly a level to rolling
interior plain. This land is mostly in use for agriculture. This plain is surrounded by
rugged hills and low mountains in which the Gold Province is located. All areas are
easily accessed by a well developed road system.
3.2
Climate
Ireland’s climate is classified as temperate maritime; modified by North Atlantic
Current with mild winters, cool summers; consistently humid; overcast about half the
time.
The mean annual temperature is around 10°C. The temperature drops below
freezing only intermittently during winter, and snow is scarce. The coldest months
are January and February, when daily temperatures range from 4° to 8°C, with 7°C
the average. In summer, temperatures during the day are a comfortable 15° to 20°C.
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During the warmest months, July and August, the average is 16°C. A hot summer’s
day in Ireland is 22° to 24°C, although it can sometimes reach 30°C. There are
about 18 hours of daylight daily during June and July when its only truly dark after
about 11pm.
Ireland receives a lot of rain, some areas having as many as 270 days of the year.
The southeast is the driest, enjoying a more continental climate.
3.3
Transportation
Ireland is situated in a strategic location on major air and sea routes between North
America and northern Europe. The island is easily accessible internationally on a
daily basis from the east or the west.
Ireland has 39 airports, 17 having paved runways and 22 unpaved, the majority of
the latter being less than 900m long. All base metal licences areas in the west are
easily accessed through Shannon Airport while gold licences in the east can be
easily accessed through Dublin Airport.
Transportation is facilitated by:
• An excellent road network with over 97000 km of roadways that are paved.
Individual licence areas have good road access;
• Three principal ports where ore and infrastructure can be transported to and
shipped from are Cork in the south, Dublin in the east and Shannon Foynes in
the west;
• Over 3000km of railways, the majority of which are broad gauge.
3.4
Communications
The Irish telephone system is a modern digital system using cable and microwave
radio relay. Ireland has 2.202 million main line telephones in use with 5.048 million
mobile phones.
Increasing levels of broadband access totals 1.3 million users connected directly to
the internet and 2.83 million general users. Ireland is the landing point for the
Hibernia-Atlantic submarine cable with links to the US, Canada, and UK.
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4.0
EXPLORATION & DEVELOPMENT LICENSING REGULATIONS
4.1
Prospecting Licences
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Prospecting Licences (PLs) are issued for a period of six years for specified minerals
with a required minimum expenditure. A minimum work programme is required, the
details of which are agreed with the licensee. Work reports are required every two
years, and are held confidential for six years or until surrender of the licence (if
earlier). Third party insurance is required for the period of the licence, but need not
be licence specific in that the same insurance policy can cover all ground held by the
licensee.
4.2
Fees
These are payable as part of the permitting process.
• There is an application fee of €190 for each PL area.
• For each six year licence, a holding charge ranging from €1250 to €3125 is
payable in instalments depending if the area is Standard or a designated
Incentive Area.
4.3
Permitting Minerals Development
Minerals can be in State ownership or privately owned. Regardless of ownership,
minerals development requires a State Mining Facility from the Minister. As a matter
of policy, the Minister will only accept an application for a State Mining Lease,
Licence or Permission from the holder of a valid PL over the area in question.
4.4
Environmental Issues
The Irish system has evolved over many years following a typical progression from
concern mainly with economic development to a greater consideration of the need for
environmental protection.
It is emphasised in the Minerals Development Regulations as set out by the Minister
for Communications, Energy and Natural Resources that environmental issues are a
priority during exploration and extraction of minerals.
All development of minerals governed by the Minerals Development Acts is subject to
environmental impact assessment through the planning process. Therefore any
Planning Applications for such developments must be accompanied by an
Environmental Impact Assessment. In addition, all mining developments require an
Integrated Pollution Prevention and Control Licence which is obtained from the
Environmental Protection Agency.
5.0
MINERAL EXPLORATION IN IRELAND
The Republic of Ireland has a notably diverse geology that is prospective for a range
of mineral deposits (Figure 1).
The Lower Carboniferous carbonate rocks of the Irish Midlands are host to one of the
great ore fields of the world. Since 1960, 14 significant (recorded resource1 >1Mt)
1
Compliance with mineral reporting codes not stated
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zinc-lead deposits have been discovered, including the world class orebody at Navan
(>105Mt). Ireland is ranked first in the world in terms of zinc discovered per square
kilometre, and second in the world with respect to lead. The high grade, shallow
occurrence and clean metallurgy of the orebodies, all result in a relatively low cost of
mining for the Irish-type Zn-Pb deposits.
Large tracts of Ireland are underlain by metasediments and metavolcanics of
Proterozoic and Lower Palaeozoic age. These lithologies are known to contain
significant VMS mineralization (e.g. Avoca, 16Mt @ 0.6% Cu) and auriferous
mesothermal quartz veins. The latter style of mineralization has recently been the
focus of extensive exploration efforts across the island of Ireland and in 1999, an
opencast gold mine associated with shear-hosted quartz veins, was established at
Cavanacaw in Northern Ireland (2Mt @ 6.9g/t Au).
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Figure 1: Geology of Ireland with mineral deposits (from Exploration and Mining
Division, Department of Communications, Energy and Natural Resources, Ireland)
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6.0 The Geology of Irish Gold Mineralisation
In 1795, the discovery of gold nuggets near Woodenbridge in Co. Wicklow
precipitated Ireland's only indigenous gold rush. Up to 9,000 ounces of gold were
recovered mainly by local people from the gravels of what became known as the
Gold Mines’ River. The most profitable location was below Ballinagore Bridge at the
'Red Hole'. Gold was recovered here from an ancient river channel exposed beneath
a capping of glacially derived material. Prospectors failed to find a convincing
bedrock source despite thorough searching.
Many gold occurrences have been found throughout Ireland by exploration
companies and the Geological Surveys since the mid-1980s. Up to 300 gold
occurrences are documented by the Geological Survey of Ireland (GSI Minlocs
database).
6.1
Gold Occurrences
6.1.1
Southeast Ireland
In the Lower Palaeozoic rocks of Southeast Ireland, gold is known to be associated
both with volcanogenic massive sulphide mineralization in Co. Wicklow and with
metasedimentary and metavolcanic sequences in Co. Wexford. IMC is presently
focussing on the gold potential of this region. Drilling in Ordovician metasediments at
Kilmacoo, adjacent to Avoca, has confirmed the existence of significant bedrock gold.
The presence of some 0.4Mt grading 1.5 to 2g/t Au over a strike length of 125m is
recorded (Milner & McArdle, 1986) however no resource estimate has been
published.
6.1.2
West of Ireland
In the Lower Palaeozoic rocks of the west of Ireland, in Co. Mayo, gold is found both
in quartz veins at Lecanvey and in a major shear zone Cregganbaun. The E-W
Cregganbaun Shear Zone In south Co. Mayo traverses tuffs and metasediments of
Ordovician age. Gold has been found at many localities along the 33km length of the
structure following the discovery of gold in bedrock in 1988. Drilling at the western
end of the Shear Zone has indicated the existence of 0.53Mt2 grading 6g/t Au, to a
depth of 80m (Gold in Ireland, EMD publication 2003).
At Bohaun, northwest of Galway, visible gold with consistent values of 40 to 190g/t
Au over widths of up to one metre have been found in a silicified breccia in Silurian
metasediments. In the same area, an intersection of 0.17oz/t Au over 4.6m (15 feet)
was drilled in massive pyrrhotite amphibolite pods in a Dalradian volcanosedimentary sequence (Ovoca Gold, 1987, Gold in Ireland, EMD publication 2003)
6.1.3
County Monaghan
At Clontibret in Co. Monaghan, gold is found associated with arsenopyrite-stibnite
veining in Lower Palaeozoic greywackes. An indicated resource3 of 11Mt grading
1.24g/t Au for 440,000oz contained, and an inferred resource of 14Mt, at a grade of
1.32g/t Au for 590,000oz contained, bringing the total resource cited to date to over 1
2
3
Compliance with mineral reporting codes has not been checked by SLR
Compliance with mineral reporting codes has not been checked by SLR
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million ounces (Conroy Diamonds and Gold, Company overview). Significant gold
mineralisation occurring in a sequence of argillites and arenites with quartz stockwork
has recently been discovered in an ongoing drilling programme north east of
Clontibret at Clay Lake, in Co. Armagh with 14m of 0.72 g/t Au, including 2m of
1.72g/t Au reported.(Conroy Diamonds and Gold, Company overview).
6.1.4
County Kildare
In Co. Kildare the 1993 discovery of visible gold in quartz float, southwest of Dublin,
has stimulated interest in this new target area of Lower Palaeozoic greywackes. A
number of auriferous shear zones were intersected by drilling, the best being 1.3m of
3.33 g/t Au at 52m depth (Colthurst, 1999).
6.1.5
Northern Ireland
Recent exploration has indicated the presence of bedrock gold in a number of
different geological terrains. The discovery of gold deposits at Curraghinalt in Co.
Tyrone in 1982 and Cavanacaw in 1987 resulted in an upsurge of gold exploration in
the 1980s. Attention has largely been focused on vein-hosted quartz veins and
shear zone targets in Dalradian (Pre-Cambrian) metasediments.
The most
recent resource estimate at Cavanacaw in the measured and indicated category
amounts to a total of 0.428 Mt grading 6.69g/t Au for 92,000 contained ounces (ACA
Howe, 2008).
At Curraghinalt, an Indicated mineral resource of 0.95 Mt grading 13.24 g/t Au
for approximately 400,000 contained ounces and an Inferred mineral resource of
2.46Mt grading 14.64 g/t Au for 1.16M contained ounces has been estimated
(www.dalradianresources.com).
7.0
THE GEOLOGY OF IRISH BASE METAL MINERALISATION
Within the Irish Midlands the thick Lower Carboniferous carbonate rocks occur in a
number of sub-basins where known mineralisation exhibits well constrained
stratigraphic and structural controls. Figure 2 presents the associations between the
main mineralisation containing sequences and their regional occurrence. A summary
of the main ore hosting Carboniferous formations and their key deposits is presented
in the following section. The figures and many of the resource estimates in this
section are taken from the Exploration and Mining Division (EMD) publication “Zinc
and Lead in Ireland. More up to date resource estimates have kindly been provided
via email by John Pyne, head of the EMD, upon request by IMC (Table 1).
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Figure 2: Schematic cross-section through the Irish Midland’s carbonate stratigraphy
7.1
Stratigraphic Controls
Shallow-water carbonates of the Navan Group (50-400m thick) host the Navan
deposit and several sub-economic deposits in the northern part of the province.
The Waulsortian Limestone Formation (Waulsortian), a carbonate mudbank complex
up to 1,500m thick which thins into isolated units set in an argillaceous bioclastic
envelope to the north, hosts the Tynagh, Silvermines, Galmoy, Lisheen, Kilbreckan,
Pallasgreen and Harberton Bridge deposits. Significant mineralisation has also been
found in underlying sub-Waulsortian strata (Silvermines, Lisheen).
The overlying shelf limestone facies of the Supra-Waulsortian strata, host crosscutting deposits at Harberton Bridge.
7.2
Structural Controls
The structural pattern of widespread normal faulting is also favourable, in that the
deposits found to date are all associated with Caledonide trending fault systems that
often appear to have acted as conduits for hydrothermal fluids, and are controlled by
known basement lineaments. Other regions such as the Lower Carboniferous
Northwest Basin, also have potentially favourable geological settings, although with
limited discovery success to date.
7.3
Mineralisation
The two most significant styles of mineralization are:
• Stratabound (and stratiform) deposits hosted in the Navan Group and
Waulsortian Limestone (the so-called ‘Irish type’). The stratabound deposits
are preferentially located in the stratigraphically lowest non-argillaceous
carbonate strata. At Navan the mineralization occurs as stacked stratabound
lenses, while the Waulsortian-hosted deposits have a variety of forms, with
regular (Lisheen, Garrycam) or irregular tabular lenses (Galmoy, Upper
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Silvermines), cross-cutting epigenetic zones (Lower Silvermines) or discrete
pods (Tynagh, Ballinalack). Enhanced zones of mineralization are associated
with NE or ENE trending faults or mineralized fractures.
•
Cross-cutting MVT deposits typically found in the Waulsortian and SupraWaulsortian lithologies. The form of the MVT deposits vary from tabular,
dome, or pipe style, but are typically tabular bodies at the base of the
Waulsortian, which in some cases extend upwards for up to 500m into
overlying strata.
7.4
Individual Deposits
The tonnages quoted in Table 1 have been reported to the Exploration and Mining
Division of DCENR as of 2011.
Deposit
Year of Discovery
Tonnage (Mt)
Grade (Zn+Pb)
Status
Navan
1970
105.1
10.20%
Operating Underground
Lisheen
1990
22.8
14.10%
Galmoy
1986
9.7
16.20%
Silvermines
1963
17.7
8.90%
Tynagh
1961
9.2
11.2
Closed Underground
Closed Pit/Underground
Table 1: Main deposits in Ireland (Source EMD 2011)
7.4.1
Galmoy
The Galmoy zinc-lead deposit was discovered in 1986. Production commenced in
early 1997 with total production to date being 9.7Mt at 16.2% Zn+Pb.
Two separate sulphide orebodies occur approximately 70m below surface and are
hosted in basal (Lower Carboniferous) Waulsortian mudbank limestones. The host
rock has been extensively dolomitized and brecciated. The mineralisation is
regarded as being replacement/stratabound. There are four ore bodies with the Gorebody being a classic “Irish type” deposit occurring in the hanging wall of a major
northeast fault.
7.4.2
Lisheen
The carbonate-hosted zinc-lead deposit at Lisheen was discovered in 1990.
Production commenced in September 1999. Total resources reported to EMD to
date are 22.8Mt at 14.1% Zn+Pb.
Mineralisation occurs as massive stratiform sulphide lenses at the base of
dolomitized (Lower Carboniferous) Waulsortian in the northern hanging wall of an
ENE trending fault zone (Figure 3).
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Figure 3: Cross-section through the Lisheen deposit
7.4.3
Silvermines
In 1963 drilling programme intersected ore-grade lead-zinc mineralisation in Lower
Carboniferous carbonates in the hanging wall of a northerly-downthrowing east
trending fault zone. The mine produced some 17.7Mt of ore grading 8.9% Zn+Pb
until closure in 1982.
Mineralisation is typically in the form of stratiform massive sulphides occurring at the
base of the Waulsortian.
There is also an underlying epigenetic (veins, breccias) zone representing a feeder to
the upper zone. The upper zone contained 12.94Mt grading 6.78% Zn and 2.55%
Pb, while the lower zone contained 4.74Mt grading 5.49% Zn and 2.44% Pb.
7.4.4
Tynagh
This Lower Carboniferous carbonate-hosted, stratiform lead-zinc-copper-silver-barite
orebody was found in 1961 as a result of conventional shallow soil geochemistry and
geophysics (EM and IP). The mine commenced production in 1965 and the orebody
was worked out by 1980. The deposit contained approximately 9.2Mt grading 11.2%
Pb+Zn.
The primary sulphide mineralisation (galena, sphalerite and chalcopyrite) was hosted
mainly as lenticular bodies in Waulsortian micrites in the hangingwall of an east
trending fault. The higher grades of mineralisation were found adjacent to the fault
and towards the base of the Waulsortian Limestone.
7.4.5
Navan
The Navan deposit, the largest zinc mine in Europe and the eighth largest in the
world, was discovered in 1970. Total production to date has been 105.1Mt grading
10.2% Zn+Pb.
This deposit is hosted in basal Carboniferous shallow-water carbonates and
comprises a stacked series of massive stratiform and stratabound sulphide lenses
aligned approximately NE and parallel with major faulting (Figure 4).
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Figure 4: Cross section through the Navan deposit
8.0
PROSPECTING LICENCE AREAS CURRENTLY HELD BY IMC
IMC currently holds thirteen PLs. Three of these are in southeast Ireland, licensing
exploration for gold with the remaining ten licences are in the Irish Midlands,
licensing exploration for barites, silver and ores of Base Metals. These PLs were
granted to IMC in April and May of 2011 by the Irish government.
The following maps show the location of IMCs PLs with reference numbers as
defined by the Irish Government together with exploration blocks (groups of licences)
as defined by IMC. Figure 5 shows the position of the prospecting licence areas
relative to major Irish cities and topographical features, while Figure 6 shows the
prospecting licence areas overlain on a simplified bedrock geological map (EMD,
2003).
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Area of Figure 5
Figure 5: The location of the PLs currently held by IMC Exploration Ltd
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Area of Figure 6
Figure 6: Location of PLs currently held by IMC Exploration Ltd in relation to simplified bedrock Geology
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Gold Mines’ River Block - Prospecting Licences 2239 & 3857
Figure 7: Geology of the Gold Mines River Block
The Gold Mines River Block (consisting of PL2239 and PL3857) (Figure 7) is located
in the Avoca area of Co. Wicklow. The licences areas of PL 2239 and PL 3857 are
27.6 km2 and 49.88 km2 respectively and cover some of the areas of historic alluvial
gold production in Ireland. Historical records indicate that up to 9,000 ounces of gold
were extracted in the late nineteenth century from the East Goldmines River and the
West Goldmines’ River (EMD/GSI, 2003).
In the opinion of IMC, the licences have untested potential for primary gold
mineralisation. It is the company’s opinion that the licences were surrendered
recently by Minco Plc due to their primary focus being the advancement of a recently
discovered zinc-lead deposit in Co. Limerick.
The present price of gold, (± $1,525/oz on 16th June, 2011,
www.thebulliondesk.com), combined with the fact that IMC regards the Gold Mines
River area as extremely prospective, warrants an aggressive exploration programme
on the Licence block.
8.1.1
Gold Mines’ River Block Geology/Structure
• The licence blocks lie on the interpreted southwest extension of the Avoca
mineralised belt, located in the core of the Caledonian para-tectonic belt of SE
Ireland.
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The Lower Palaeozoic rocks of the region were deposited in the major NE
trending Leinster depositional basin.
The rocks of the Goldmine River district have undergone a complex structural
history, largely or exclusively during the Caledonian Orogeny of late Silurian to
early Devonian age.
The dominant geological structure present is a penetrative cleavage which affects
all lithologies and is accompanied by low grade regional metamorphism which
attains greenschist facies in many places. (McArdle et. al).
The potential exists for vein, shear-hosted and stratabound gold mineralisation.
The gold mineralisation is associated with tuff units of mid-Ordovician age,
consisting of chloritic tuffs, sericitic tuffs and coarse pyritic/chalcopyritic felsic
tuffs.
8.1.2
•
15
Gold Mines’ River Block Mineralisation
In the opinion of IMC, the anomalous zones of interest have considerable
untested strike potential.
Grab samples from trenches returned values of between 3.45 to 42.5g/t Au.
Rock chip sampling of two zones of primary gold mineralisation at the McLaren
zone resulted in various values in the range 1.18g/t Au to 12.55g/t Au.
(McKillen,Tyler & Associates 2009)
Two shallow holes DDH1 to 46.2m and DDH2 to 32.0m were drilled. Neither of
these holes reached their target due to equipment failure (Brotzen 1999).
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The Kilmichael Licence – PL 2551
PL 2551 covers 36.9 km2 (Figure 8) and is located in north Co. Wexford, 4km west of
Gorey town. Following assessment of historic data it is apparent to IMC that the
licence clearly has untested potential for primary gold mineralisation. Drilling and
float sampling indicates that the Kilmichael area contains significant gold grades in a
structurally complex setting (Deevy, 2002).
Figure 8: Geology of the Kilmichael Licence
8.2.1
•
•
•
•
The licences are underlain mainly by the Ribband Group metasediments of
Tremadoc Arenig age (Lower Ordovician).
The Group is named after the ribbon-like banding which can be seen in many
outcrops on the property. The banding is intensely folded and crenulated in many
of the outcrops and also in drill core.
The Ribband Group (Middle Cambrian – Llandeilo) consists of a succession of
distal turbidites, mainly siltstones with minor intermediate and basic volcanics.
Several subdivisions of the Ribband Group are present on the licences.
The regional trend is the northeast/southwest Caledonoid trend with the rocks
younging to the southeast and the Leinster Granite lying to the west of the project
area.
8.2.2
•
Kilmichael Licence Geology/Structure
Kilmichael Licence Mineralisation
Three drillholes, totalling approximately 275m were completed at Kilmichael by
previous operators in June 1998 (Deevy, 2002)
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A second zone of gold mineralisation was noted at 26m depth with visible gold in
a quartz vein which assayed 35.05g/t Au over 0.7m.
Sampling at Kilmichael demonstrated values at surface following the discovery of
a mineralised quartz vein 0.6m in width which graded 18.24g/t Au Irish Marine
Oil, 1999).
Drilling (DDH 2551-1) intersected a quartz vein with visible gold @ 26m depth
which assayed 35.04g/t Au over 0.7m (Deevy, 2002).
DDH 2551-2 intersected a shallow (15.6m – 16.3m) quartz vein, assaying 3.81g/t
Au over 1.3m (Deevy, 2002).
An earlier drillhole (BGD-1) drilled in the Ballygarrett area reported an intersection
(117.45m – 118.17m) of 10gmAu/t over 0.72m (Tear, 1992).
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The Nenagh Block - Prospecting Licences 3668, 3677, 3426 & 3670
Figure 9: Geology of the Nenagh Block
The Nenagh Block comprises PL3668, 3677, 3426 & 3670 (Figure 9). These
licences are located in Co. Tipperary to the east and southeast of Lough Derg. The
licences are situated between the Tynagh and Silvermines deposits and to the NW of
the Lisheen and Galmoy deposits.
8.3.1
Nenagh Block Lithostratigraphy
Most of the Nenagh Block is underlain by Lower and Middle Carboniferous
sediments. Much of the block is underlain by the Wausortian, the base of which is the
target horizon for mineralisation.
The stratigraphy in PL3668 is typical of that seen at Tynagh, Silvermines, Lisheen,
Galmoy and Gortdrum with 70% of the licence area underlain by the favourable
Waulsortian lithology. (McKillen et al, Minco 2005).
PL3670 together with PL3677 are also mostly underlain by Waulsortian biomicrites.
The Waulsortian is estimated to be 150-300m thick in PL3670 (King, 1999 &2002).
In the northern part of PL3426, drillhole DD-3426-1 intersected the top of the
Waulsortian at 50.8m and the base at 470m. In the same licence area the
Waulsortian passes eastwards into a younger Chadian-Arundian-Holkerian shelf
succession (King, 1999 & 2001).
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In PL3677 the base of the Waulsortian biomicrites was intersected at 439.1 with the
top being intersected at 124.7m. In PL3677 it is thought that the Oldcourt Cherty
Limestone in the E may bestructurally controlled (King 2002).
8.3.2
Nenagh Block Structure
The Nenagh Block is located within the principal regional NE/SW structural belt along
which many of the main Irish base metal deposits are located. A number of other
structural trends that dominate the Irish Midlands and are associated with
mineralisation are also recognised within the Nenagh Block.
The underlying NE/SW controls are deep seated basement structures which acted as
plumbing pathways at the time of mineralisation. Locally, at higher levels, deposits
are seen to be controlled by E/W to ENE orientated faults that IMC believes were
extensional at the time of mineralisation. Other NNE striking structures are also
believed by IMC to be associated with the genesis of deposits. Many of the
extensional structures show later inversion which has modified the geometry of
deposits.
Those items not referenced in the text are structural observations made by IMC staff
from available data.
Nenagh Block NE/SW Structures
The underlying regional NE/SW structural trend is manifest in both large and small
structures throughout the Nenagh Block.
• The northwest dipping Knockshigowna Fault to the north of PL3668 represents a
structure within this zone (McKillen etal, 2005).
• This structure is a western extension the large, laterally continuous, NE/SW
regional Lorrha fault system (King, 2003).
• The Lorrha Structure itself is a major basin bounding extensional structure
defining the southeast margin of the extensive Lorrha Basin that exhibits up to
800m Calp (King, 2003).
Nenagh Block E/W - ENE Structures
The E/W - ENE structures are considered by IMC to be local dilational structures
acting as fluid pathways at the time of mineralisation.
• PL3668 lies proximal to where the regional NE structural zone swings to a
favourable dilational ENE strike.
• PL3668 is located on the southern margin of a magnetic high and to the north of
a favourable ENE striking structure.
• The boundary between the Waulsortian and the Calp Limestone in PL3670 is
interpreted to be structurally controlled (King, 2003).
• This boundary is thought to be the western extension of the regional NE/SW
trending and northerly dipping Lorrha Structure (King, 2003).
• This structure having a northerly down throw and laterally continuous is known to
have controlled sedimentation during Chadian and Arundian times (King,
1999).
Nenagh Block NNE Structures
A number of NNE striking structures have been interpreted in the Nenagh Block.
These are interpreted by IMC to be structures significant to the formation of deposits
in the Irish Midlands
•
PL3668 is situated on a NNE gravity structure on which Silvermines is also
located 10km along strike to the southwest.
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Through going, NNE striking, mapped structures are seen as a linear in the
gravity data to the west of PL3668 and may form a NNE trending structural zone.
PL3426 lies to the west of a NNE striking gravity lineament upon which
Silvermines sits 15km along strike to the southwest.
This NNE trend is reflects a local strike swing in the regional NE/SW
structure.
PL3760 also lies on a NNE gravity lineament upon which Silvermines sits 20km
along strike to the southwest.
PL3677 lies to the west of a NNE strike swing within the regional structural zone.
8.3.3
•
20
Nenagh Block Mineralisation, Alteration and Lithogeochemistry
In PL3668, intensely altered and recrystallised Waulsortian with massive pyrite
has been recorded at Cloghjordan in the northeast of the licence area (McKillen
et al, 2003).
To the southwest of Cloghjordan in PL3668, Waulsortian hosted ‘black matrix
breccia’ and base of Waulsortian alteration similar to Lisheen, Galmoy and
Silvermines ore bodies were intersected in DDH MN3668-7 (McKillen et al, 2005).
The Waulsortian in PL 3677 contains regional replacive alteration which is
accepted as a significant prerequisite for base metal mineralisation. (King, 2002).
A regional dolomite trend was recognised in PL3677 (King, 2002).
Dolomitised boulders of Waulsortian limestone thought to have a structural
control have been mapped on the surface in PL3670 (King, 2003).
Exploration proximal to PL3670 suggests the potential for base of Waulsortian
targets (King, 1999).
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The Tulla Licence - PL 3729
Figure 10: Geology of the Tulla Licence
PL3729 covers 37km2 located in southeast Co. Clare, in the south-western part of the
Slieve Aughty Mountains, about 2.5km northeast of Tulla and on the northern margin of the
Clare Syncline (Figure 10). It lies on the north-eastern margin of a block of licences that have
produced significant exploration results by other operators.
8.4.1
Tulla Licence Lithostratigraphy
The mapped geology, younging to the south, shows Old Red Sandstone, Lower
Limestone Shales, Sub-Waulsortian (ABL) and Waulsortian ( Emo, 2001).
A simplified geological succession is as follows (Emo, 2001):
8.4.2
•
•
Waulsortian
250-300m;
Ballysteen Limestone
130m;
Lower Limestone Shale
85m;
Old Red Sandstone
250m.
Tulla Licence Structure
PL3729 lies within a regional zone of ENE striking structures. An ENE striking
structure has reported showings of lead, barite and silver.
A previous structural study used geological mapping and geophysical data
including the following:
Gravity (Dias);
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Huntings Aeromagnetic Data (GSI);
Geotem & Magnetics (Geoterrex);
SMARTem/IP (GPX Australia).
•
•
The structural study identified a structural target zone on the southern part of the
PL 3729 (Emo, 2005). This zone remains untested.
It is IMC’s opinion that a marked structural swing observed in the geophysical
data together with a discreet break in gravity data to the north suggests major
structural interactions in the vicinity of PL3729.
8.4.3
•
•
•
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Tulla Licence Mineralisation, Alteration and Lithogeochemistry
An ore genesis study that included the relogging of four drillholes across the
Clare Syncline concluded that the style of mineralisation present was extremely rare
in Ireland and thought to indicate proximity to a potentially economic
sulphide body.
The local association between the mineralisation and large calcite veins in
the area was thought to indicate some similarities with other prospects
elsewhere in the Irish Orefield.
One drillhole (BC 2895/2) on the southwest boundary that targeted Waulsortian
against ABL found no sign of mineralisation (Emo, 2005,)
While the faulted base of the Waulsortian is the most likely horizon to contain
significant Zn/Pb mineralisation similar to that at Milltown, the lower part of the
Lower Limestone Shale has the potential to contain significant copper showings like that
present at Ballyvergin, 7km to the west.
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The Limerick Block – PLs 3550 & 3806
Figure 11: Geology of the Limerick Licence Block
The Limerick Block, containing PL3550 and PL3806 (Figure 11), is situated in an
area of pastureland and forestry, with some development, in Co. Clare, outside of
Limerick City. The PLs cover 35.97km2 and 40.93 km2for PL 3550 and PL3806
respectively.
These two licences, thought to be extremely prospective by IMC, may have been
overlooked and underexplored in the past due to their proximity to Limerick City.
8.5.1 Limerick Block Lithostratigraphy
• The base of the Waulsortian, the stratigraphic horizon which hosts the Galmoy,
Lisheen, Silvermines, Tynagh and Pallasgreen deposits, is within a prospective
depth throughout much of the area of the Limerick Block.
• Geological mapping and drilling by previous operators has found that there are
facies variations in the Waulsortian – possibly caused by the movement of Upper
Courceyan faults.
• Towards the centre of PL3550, an igneous occurrence at the boundary of the
Waulsortian within the shelf limestones (geological compilation map in Deevy
1996) may represent a volcanic vent.
• At Pallasgreen (situated 15km to the southeast) there is an intimate relationship
between facies changes in the Lower Carboniferous stratigraphy, mineralisation,
and the occurrence of volcanic vents.
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8.5.2 Limerick Block Structure
• Regional deep seismic surveys of the area indicate that the Limerick Block
licences are situated on the edge of the Limerick Basin (Landes 2003), possibly
along a prospective ENE trending, south dipping, reactivated basement structure.
• The Silvermines Fault runs along the northern boundary of the licence block.
• The licence block is situated along the “Limerick Trend” (Tyler 2007); a NW
striking area of mineralisation and alteration comparable to the NE striking
“Rathdowney Trend” along which the deposits of Lisheen and Galmoy are
situated.
• The new discoveries at Pallasgreen/Stonepark and Kilbricken, as well as the
historic Cu deposit at Gortdrum are situated along the “Limerick Trend”.
8.5.3 Limerick Block Mineralisation, Alteration and Lithogeochemistry
• The centre of the licence block is almost equidistant (15-20km) from the
Silvermines, Pallasgreen/Stonepark deposit and the Kilbricken prospect, situated
to the ENE, SE and NW respectively.
• Only one hole, drilled by a previous operator in the early 80s, has tested the base
of the Waulsortian within the Limerick Block (Billiton drillhole LS6, drilled to a
depth of 29.26m (Deevy 1996).
• Most of the historic drilling in the area has intersected trace mineralisation as well
as the types of alteration which are often associated with “Irish type” base metal
mineralisation.
• The alteration and mineralisation encountered include:
o Dolomitisation of the Waulsortian;
o Haematisation of the Waulsortian which may be similar to that seen at the
Tynagh and Silvermines deposits;
o Silicification of the Waulsortian;
o Possible vein hosted barite mineralisation;
o Trace Sphalerite mineralisation in drillhole LS01, interpreted to have had
an exhalative texture (Billiton drillhole LS1 (Deevy 1996)).
o This mineralisation and alteration, combined with structural modelling
indicates to IMC that the licence areas are still within the
Silvermines/Pallasgreen mineralising system.
•
Figure 12 shows the locations of the historic drillholes which intersected the
mineralisation and alteration described above, as well as summary logs. It should
be noted that this information was taken from a compilation map and report
produced in 1996 by Irish Base Metals (Deevy 1996) and is not a direct source.
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Figure 12: Map of east side of PL 3550 showing collar locations & summary logs
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PL 3460
PL 2103
Figure 13: Geology of the Ballinasloe Block showing selected drillholes and depths
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8.6
The Ballinasloe Block – PLs 2103 & 3460
The Ballinasloe Block, comprises PL2103 and PL3460 is situated in a rural area of
pastureland and peat bog in Co. Roscommon (Figure 13). The small town of
Ballinasloe lies on the south western edge of PL2108.
8.6.1 Ballinasloe Block Lithostratigraphy
• Both prospective target horizons for “Irish type” Zn/Pb mineralisation, the “Base of
Waulsortian” and the Navan Beds, are within prospective depths in the
Ballinasloe Block. There have a been a significant number of target tests on the
licences, however a number of locations have remained untested for example the
north side of the north-northeast trending anticline crosses through the north of
the block. Reprocessing of the VLF and IP data from the licences is required as it
is believed it has potential to identify targets in other parts of the block.
• Previous drilling by the Ivernia West, Rio Agom joint venture found that facies
variations within the Lower Courceyan, Navan Beds might indicate the presence
of synsedimentary faults.
• The Ballinasloe area marks a north to south change from Chadian–Arundian
Shelf to Basinal Facies sediments. This lithostratigraphic configuration indicates
the presence of early Visean basin bounding faults active in the area. These
faults are often ore controlling faults in the Irish orefield (Wilkinson et al, 2010)
8.6.2 Ballinasloe Block Structure
• The variations in Dinantian lithostratigraphy in the Ballinasloe area are related to
the formation of the Tynagh Basin to the south and southwest.
• Basin subsidence during the Lower Carboniferous led to variations in Waulsortian
depositional thickness, followed by facies variations in supra Waulsortian
lithologies.
• A strong magnetic edge and area of steep gravity gradient is observed to traverse
the Ballinasloe Block on the regional geophysical datasets. The latter may
indicate the presence of a basement structure, which became reactivated during
the Lower Carboniferous to control the faults controlling the northern margin of
the Tynagh Basin.
8.6.3 Ballinasloe Block Mineralisation, Alteration and Lithogeochemistry
• The Tynagh deposit (9.2 Mt @ 11.2% Pb + Zn) is situated 25km to the southwest
of the Ballinasloe block. The Tynagh deposit is hosted at the base of the
Waulsortian, with mineralizing fluids focusing along the Tynagh Fault, the
southern bounding fault of the Tynagh Basin.
• Previous operators have discovered a number of mineralisation and hydrothermal
alteration occurrences within the Ballinasloe Block although, as of yet, no
economic deposit has been found:
• Two 0.6m thick top of Waulsortian mineralized zones are noted in a drillhole at
Glentaun drilled by Canadian Superior. Mineralisation comprises sphalerite and
galena, with combined Zn and Pb values of 27% and 40% respectively (Earls
1997).
• Waulsortian hosted mineralisation grading 15.3% Zn, 13.86% Pb over 1.45m was
intersected in the southern area of PL3460 by the Rio Algom, Ivernia West Joint
venture in drillhole 99-3460-30 (King 2000).
• Navan Beds hosted mineralisation grading 5.4% Zn and Pb over 0.75m in
drillhole 99-3460-27 (Earls 1999).
• Previous workers in the Ballinasloe area have noted significant alteration from
drillhole and outcrop as follows;
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Haematisation at the base of the Waulsortian interpreted as hydrothermal
in origin and similar to haematisation at the Tynagh deposit (drillhole 983460-23, Earls 1997a).
Extensive areas of dolomitisation are presently interpreted by IMC as
being similar in gross morphology to dolomites at Navan (Braithwaite,
1997), based on the description in the historical geological log (drillhole
96-2103-10, Earls, 1997b).
Cross-cutting fine grained black dolomites similar to the black dolomite in
the matrix of hydrothermal ‘black matrix breccias’ at the Silvermines,
Lisheen, Galmoy, and Pallasgreen deposits are present in drillhole 963459-05 (Earls, 1997a) which is situated on the adjoining PL to the west
of PL 2108, c.7km to the southwest of the boundary of PL 2108.
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The Shannon Licence - PL 3644
Trend of Fergus Shear
Trend of Quinn Shear
Figure 14: Geology of the Shannon Licence
PL3644 is 23.27km2 situated in Co.Clare south of Shannon town (Figure 14). Shannon
Airport is located on the southern part of the licence area.
8.7.1 Shannon Licence Lithostratigraphy
• PL3644 is underlain by the prospective Waulsortian Limestone in the northern half and
Courceyan the Argillaceous Bioclastic Limestone (ABL) in the southern half.
• Both Shannon Town and Shannon Airport are located in the area of ABL.
• The prospective area of WaulsortianLimestones lies to the north of Shannon Airport.
8.7.2 Shannon Licence Structure
• The PL lies adjacent to the intersection of the Fergus and Quin Shear Zones (Coller,
1984).
• The ENE trending, ‘Quin Shear Zone’ has been interpreted as a dextral structure (Coller
1984).
• The NNE trending 'Fergus Shear Zone' extends from the Fergus estuary and is
interpreted as a sinistral structure to the west of PL3644.
• Both 'shear zones' are up to 1km in width.
• PL3644 lies 15km to the southwest of Silvermines along strike on the SW projection of
the ENE trending Silvermines Fault.
• This highly prospective ENE striking structure would have been dilatational and a
favourable “plumbing” structure at the time of mineralisation.
• Based on structural modelling by IMC, the NNE trending Fergus Shear Zone, together
with the prospective ENE striking Silvermines Fault is similar to the regional configuration
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proposed for the structural setting of deposits in the Rathdowney Trend, namely the
Lisheen and Galmoy deposits and is considered an important control in that area.
8.7.3 Shannon Licence Mineralisation, Alteration and Lithogeochemistry
• The base of Waulsortian within PL3644 is haematised and slightly chloritised.
• The most intense areas of alteration are in the west of PL3644 where minor
disseminated pyrite appears to be associated with the haematisation.
• In the upper part of the Ballysteen Formation in PL3644 disseminated pyrite and calcitepyrite-filled vugs are present.
• There is a general trend for the intensity of alteration to decease stratigraphically
upwards from the Waulsortian-Ballysteen contact.
• This coherent area of alteration is similar in style to that seen at Crinkill, Tynagh and
Ballinasloe where the haematisation is interpreted to be related to hydrothermal activity.
• In the opinion of IMC, the distribution of the alteration may be spatially related to the
presence and number of potential feeder structures.
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RECOMMENDED FUTURE EXPLORATION PROGRAMME
The planned programmes for the PL areas are detailed below.
available data will be completed for all PLs as follows;
Initially, compilation of
9.1
Compilation of Historical Data
• There is a large volume of historical open-file data in the form of paper reports and digital
data held by the Irish Government’s Exploration and Mining Division. The existing data
available for each Prospecting Licence Area together with regional data should be
established and usefulness reviewed.
• Drill logs exist and drill core can be accessed at the Government Core Store.
• Geological mapping should be reviewed and updated as necessary.
• Digital data include geological mapping, geochemical sampling and geophysical surveys.
All digital data should be compiled within a GIS for analysis, map making and reporting
purposes. The potential exists for reprocessing historic geophysical data.
Outlines of the different exploration approaches to be taken in the gold and base metals
areas are outlined below. Projected costs are provided for the base metal areas. Based on
the understanding that geological expertise, geological fieldwork and drilling supervision will
be provided out of a separate budget the costs provided are considered by SLR Consulting a
reasonable projection of expenditure for the base metal areas for the 18 months to end
December 2012.
9.2
Gold Areas Exploration Programme
9.2.1
Gold Mines River Licences - PLs 2239 & 3857
Geophysics
Ground magnetic survey may be carried out over the sub-outcropping Ribband and
Duncannon Groups in the Gold Mines river licence block to determine the extent and
continuity of the Banded Iron Formation (BIF) and define the contact within these Groups.
Structures can be determined from this data by mapping offsets in linear magnetic highs.
Mineralisation (sulphidation) may lead to magnetic lows along the BIF horizon.
Geochemistry
Following compilation and evaluation, additional infill sampling and verification of deep
overburden geochemical anomalies reported by previous operators will be undertaken. The
overburden sampling may be extended to the southwest of the McClaren zone to close off
the target zone previously outlined in this area. In addition to this, lithogeochemical
sampling of all accessible quartz veins will be carried out.
Drilling
Based on results from the above programmes and an evaluation of Geophysical and
Geochemical targets generated by previous operators, a drill programme of at least 500m is
planned initially in the McClaren Zone, with additional drilling planned for the Slievefoore and
Mary Ellen targets.
9.2.2 Kilmichael Licence - PL 2551
Based on exploration data in the GSI Open File, including a re-evaluation of results from
geochemical, geophysical and drilling campaigns, additional drill targets will be generated
initially in the Kilmichael, Ballygarrett and Ballyowen areas.
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It is hoped to locate drill core from earlier drill programmes for orientation purposes from the
Kilmichael area. Additional drillholes are planned for these three areas totalling
approximately 1,000m.
9.3
Base Metal Exploration Programme
9.3.1
Exploration Target Criteria for Base Metal PLs
A number of key target criteria are recognized to be attractive and should be the
fundamental elements of any future exploration programme:
• The lowest non-argillaceous carbonates of the Navan Group in the northern part of the
Carboniferous Midlands Basin.
• The Waulsortian Limestone in the central and southern parts of the Carboniferous
Midlands Basin.
• Major NE or ENE trending fault structures that displace the Navan Group or Waulsortian
Limestones.
• Locations near or against inliers are targets and the points of maximum throw on faults.
• Proximity to well known deposits e.g. both present and recent producers and smaller
presently undeveloped deposits.
It is noted that all modern discoveries have been at shallow levels (<200m), suggesting that
deeper deposits could remain to be discovered.
9.3.2
•
•
•
•
Geochemical Surveying Programme
Check soil sampling of historic “total metal in soil” anomalies.
Lithogeochemical sampling, mapping and prospecting.
Sampling grids could extend into the ABL in the hope of defining linear anomalies which
could be related to mineralised structures.
All grid sampling should be followed up with infill sampling where anomalies are
detected.
Proposed Geochemical Surveys to end December 2012
Rock Grab Sampling
Full Suite Analysis
Landowner Liaison
Total Cost €28,000
9.3.3 Geophysical Surveying Programme
• Compilation and analysis of historical geophysical data.
• The historic data will be assessed in detail before deciding if any further geophysical
work would be worthwhile.
• Dipole dipole IP lines crossing soil anomalies with adjacent lines testing for the locations
of mineralizing structures in areas of Waulsortian subcrop.
• Gravity surveys consisting of 100m spaced 2km lines crossing interpreted structures /
geophysical edges following processing, compilation and analysis of historic data.
These should be positioned where the greatest throw on structures could occur.
• Panels of gradient array IP in unexplored areas along the strike of a postulated north
dipping, ENE trending mineralizing structures.
Proposed Geophysical Surveys to end December 2012
Gradient Array IP
Dipole dipole IP
Gravity Surveys
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Drilling Programme
Drillholes will be planned to test the base of the Waulsortian and the Navan Beds.
• Depending on which area, drilling needs is likely to be between 250m and 500m.
• The collar positions should be based on the interpretation of the historical geophysical
data and downhole data followed by structural modelling and refinement using the
gravity data.
• Drillholes could situated on the northern side of any north dipping structures as
interpreted from the IP/Resistivity data and down dip of soil anomalies close to the
mapped base of the Waulsortian, or in areas of coincident chargeability and geochemical
anomalies.
Proposed Drilling to end-December 2012
7000m diamond drilling
9.4
Data Security
All exploration data will be backed up onto a secure portable hard disk weekly, this hard disk
will be stored in a safe and separate location when not in use. All analysis certificates will be
safely stored in the company’s office.
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REFERENCES
Anon. Report on PL 2551, For Irish Marine Oil, January 1999.
http://gis.dcenr.gov.ie/internetPLArea/doc/PublicDocumentDownload?documentId=1342640
45&DOCLINK=null&DOCUMNETTYPE=53941372
ACA Howe, 2008. Technical report on the Omagh gold project, counties Tyrone and
Fermanagh, Northern Ireland. For Galantas Gold Corporation,
http://www.galantas.com/corporate/i/pdf/ACA_Howe_2008.pdf
Andrew et al. 1986 Geology & Genesis of Mineral Deposits in Ireland (hard back) Eds; C.J.
Andrew, R.W.A. Crowe, S. Finlay, W.M. Pennell & J.F. Pyne.
Blaney, D., 2002. Renewal Report for PL3668, Co. Tipperary.
Brotzen, A 1999. Work report, Prospecting Licence Area 3897.
Coller, D., 1984. Variscan structures in the Upper Palaeozoic rocks of west central Ireland.
Geological Society, London, Special Publications 1984, v. 14, p. 185-194
Colthurst, J. Work Report on PL 3777 Tipperkevin, Co. Kildare (1999) for Cualan Mining
Company Ltd. Exploration and Mining Division open file.
Conroy Diamonds and gold Company overview;
http://www.conroydiamondsandgold.com/download/CDG_Company_Overview.pdf
Deevy, A. J., 1995. Renewal report for the Shannon Licence Block (PLs 3431, 3550, 3806,
3807) for Irish Base Metals Limited 1995. Geological Survey of Ireland Open File Report.
Deevy, A.J. 2002 Report on PL 2551, for Minco Plc. January
Earls, G, 1997a, Ivernia West plc. PL 2103 Renewal Report
Earls, G, 1997b, Ivernia West plc. PL 2103 Ballinasloe Block Summary Report, 1995-1997
Earls, G., 2001. Ivernia West plc. PL 3426 Work Report.
Earls, G. and Wolfe, B., 1994. Chevron - Ivernia Renewal Report for the Clare South Block
PLs 3640, 3641, 3642, 3643 and 3644. Geological Survey of Ireland Open File Report.
Emo, G. T., 2001. Central Mining Finance/Billiton Ireland Resources BV JV.
Report for Prospecting Licence 3729, Co. Clare.
Renewal
Emo, G. T., 2003. Central Mining Finance/Billiton Ireland Resources BV JV. Review of
Work Carried Out On Prospecting Licence 3729, Co. Clare.
Emo, G. T., 2005. Belmore Resources (Holdings) Plc. Prospecting Licence No. 3729, Co.
Clare. Surrender Report.
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GSI/EMD 2003 Gold in Ireland. Exploration and Mining
http://www.dcenr.gov.ie/NR/rdonlyres/128F0D9E-35FB-49A1-899D9393E54FC9FD/0/GOLD.PDF
division
publication
GSI Mineral Locations database
(http://www.gsi.ie/Programmes/Minerals/Databases/Minerals+Inventory+MinLocs+Database.
htm)
GSI/EMD, 2004. Gold in Ireland (Data CD). GSI, Deposit Profile Series.
King, M. A., 1999. Rio Algom – Ivernia West Joint Venture. PL3426 Renewal Report.
King, M. A., 2000. Rio Algom, PL 2103 Renewal Report.
King, M. A., 2000. PL 3460 Renewal Report.
King, M. A., 2002. Rio Algom, PL3677 Surrender Report.
King, M. A., 2003. BHP Billiton. PL3426 Surrender Report.
King, M. A., 2003. BHP Billiton. PL3670 Surrender Report.
Landes, 2003, VARNET-96: three-dimensional upper crustal velocity structure of SW
IrelandGeophysical Journal International Volume 153, Issue 2, pages 424–442, May 2003
McKillen, Tyler and Associates, 2003. The Shinrone Property. PL’s 626, 627, 2016, 649A,
2670, 3115, 3156, 3425, 3668, 3678, 3727. Counties Offaly and Tipperary, Republic of
Ireland. Minco Ireland Ltd. Moratorium Report.
McKillen, Tyler and Associates, 2005. Shinrone Review Report. PL’s 626, 627, 2016, 649A,
2670, 3115, 3156, 3425, 3668, 3678, 3727. Counties Offaly and Tipperary, Republic of
Ireland. Minco Ireland Ltd. Moratorium Report.
McKillen, Tyler & Associates, 2009. Minco Ireland Ltd. Surrender Report PL 2239 & 3857,
Co.Wicklow, July9, 2009.
McKillen,Tyler & Associates,2009 "Surrender Report PL 2239 & 3857, Co.Wicklow Prepared
for Minco, by McKillen, Tyler & Associates" July9,2009.
Ovoca Gold Exploration Plc, 1987. Report and Accounts Cualan Mining Company Ltd.,
1999. Work Report PL 3777.
Reed C. & Redmond, P., 2009. Teck Cominco, Surrender Report for PL 2103.
Reed C. & Redmond, P., 2009. Teck Cominco, Surrender Report for PL 3460.
Tear, S 1992 Renewal report for PL2551 County Wexford.
Tyler,
P.
A.,
2007.
Pallasgreen
Geology
Report.
Minco
www.minco.ie/newsReleases/2007/pgGeology/pgGeology222032007.pdf
SLR
Plc
website:
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Wilkinson et al. Zinc 2010 Extended abstracts volume. The Irish Zn-Pb Orefield: The View
from 2010. http://www.iaeg.org/docs/2010/Zinc2010_Abstracts.pdf
Williams et. al, 1986) Geology and Genesis of Mineral Deposits of Ireland. Eds. Andrew,
C.J., Crowe, R.W.A., Finlay, S., Pennell, W.M. and Pyne, J.F.
10.1 Acknowledgements
Information presented in this document has been compiled from many sources including
open file data and publications by the Exploration and Mining Division, Department of
Communications, Energy and Natural Resources, Ireland. (http://www.mineralsireland.ie/).
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GLOSSARY AND ABBREVIATIONS
%
Weight percent
ABL
Argillacous bioclastic limestone, a rock unit containing clay, carbonate
and fossil debris. Lies stratigraphically below the Waulsortian
Alteration
The conversion of the mineralogy of a rock unit.
Arenite
Sedimentary rocks with particle size between 0.06 and 2mm diameter
Argillaceous
A rock or sediment containing clay minerals
Arsenopyrite
An iron arsenic sulphide, FeAsS.
Arundian
A period of time within the Lower Carboniferous which post-dates the
Chadian.
Auriferous
Contains gold
Barite
The ore bearing mineral of Barium
Basin
In geological terms, a regional scale topographical depression filled with
sediments
Basinal
Pertaining to a Basin
Biomicrite
A micrite containing fossil fragments.
Black Matrix Breccia
Often termed "BMB" Broken rock units containing fine grained dolomite
between the rock fragments. Often intimately associated with base metal
mineralisation.
c.
Circa (approximately)
Calp
Fine-grained bedded limestone of Lower Carboniferous age..
Carbonate
A rock or sediment containing carbonate minerals
Chadian
A period of time within the Lower Carboniferous which post-dates the
Courceyan.
Chalcopyrite
An ore bearing mineral of copper
Chert
Very fine grained silica forming layers or nodules within a rock unit.
Cu
The chemical symbol for copper
Dextral
Movement on a fault in which the opposite side of the fault has moved to
the right.
Diamond drill
Annular drill faced with boart diamonds and used for rock boring
Dinantian
European term for the Lower Carboniferous time period
Dipole- dipole
A type of IP survey
Dolomite
Dolomitsation
A mineral containing magnesium and carbonate
The conversion to dolomite of other carbonate minerals in rock units.
Often associated with base metal mineralisation
facies (sedimentary)
The aspects of a rock unit reflecting the conditions of its origin.
facies (metamorphic)
The aspects of a rock unit reflecting the conditions of its metamorphic
history.
Fault
Float
A planar fracture or discontinuity in a volume of rock, along which there
has been movement
Boulders on surface likely to have moved from their bedrock source
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Fluid
In this report, the term fluid refers to hydrothermal fluid, a deep seated
fluid which has flowed through rocks and can often form metal deposits
g/t
grammes per tonne
Galena
The ore bearing mineral of Lead
Geophysics
the study of the earth's chemical properties and of the chemical processes
acting upon, above, and within the earth
the study of the earth's physical properties and of the physical processes
acting upon, above, and within the earth
Grab Samples
Rock samples taken without relationship to a grid
Gradient Array
A type of IP survey
Greywacke
Immature arenaceous rock mostly found in turbidites
Gravity
In this report, the term gravity refers to a type of geophysical survey which
measures the gravitational signature of the geology in an area.
Greenshist facies
A type of metamorphism which has been caused by low temperatures and
pressures.
Haematisation
To change exiting minerals within a rock unit into Iron Oxide minerals, or
to introduce Iron oxide minerals.
Horizon
Hydrotheral
A specific level in the stratigraphy.
Of, relating to, or denoting the action of heated water in the earth's crust.
Igneous
Rocks formed from magma (molten rock below the earths surface) or lava
(molten rock above the earths surface)
Inlier
An area of rock formations surrounded by rock formations of a younger
age.
IP
"Induced polarisation" A type of geophysical survey which measures the
conductivity and chargeabillity of rock units.
Linear
A lineation interpreted from geophysical surveys
Geochemistry
Lithogeochemical
Pertaining to the chemical composition of rock.
Lithostratigrphy
The order and relative position of rock units.
Lower Carboniferous
Lower Palaozoic rocks
Belonging to, or denoting a geologic division of the Paleozoic Era
following the Devonian and preceding the Permian, including the Dinantian
Period.
Denoting, or relating to an era of geological time that began 600 million
years ago with the Cambrian period and lasted until the Devonian period.
m
Mt
metres
Million tonnes
Magnetic
In this report, the term magnetic refers to a type of geophysical survey
which measures the magnetic signature of the geology in an area.
Metamorphism
Alteration of the composition or structure of a rock
Metasedimentary
Sedimentary rocks which have experienced mineralogy changes
Metavolcanic
Volcanic rocks which have experience mineralogy changes
Micrite
A limestone constituent formed of calcareous particles formed by the
recrystallisation of lime mud.
Mineralisation
The formation of minerals, in this report the term mineralisation refers to
the formation of base metal, and iron bearing minerals, and of free gold.
Mt
Million Tonnes
Navan Group
The sequence of rocks which host the Navan deposit
Ordovician
Belonging to the geologic time, system of rocks, or sedimentary deposits
of the second period of the Paleozoic Era, characterized by the appearance
of primitive fishes.
Oz
Ounce
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Pb
The chemical symbol for lead
PL
Prospecting Licence
Pyrite
Primary gold
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A mineral formed from Iron and Sulphur, often related to base metal
mineralisation
Gold in bedrock
Reef
See Waulsortian
regional dolomite
The conversion to dolomite of other carbonate minerals in a rock unit over
a large area.
Shear
Fracturing and deformation of rock due to the movement of adjacent rock
units.
Shelf
A gently sloping shallow-water marine platform.
Silicification
To convert into or to impregnate with silica
Sinistral
Movement on a fault or shear-zone, in which the opposite side of the
structure has moved to the left.
Sphalerite
The ore bearing mineral of Zinc, formed from zinc and sulphur
Stibnite
Antimony sulphide ore
Sulphide
A metallic compound of sulphur.
Stratigraphy
The branch of geology concerned with the order and relative position of
strata and their relationship to the geological time scale.
Structure
Layers of sedimentary rocks which have been displaced from their normal
horizontal position by the forces of nature into folds, fractures and faults
Throw
The displacement along a fault
Trend
A postulated alignment of mineral deposits.
Tuff
rock formed from volcanic ash
Sedimentary rocks formed by deposition from rapidly moving turbidity
currents resulting in thick graded sequences of arenaceous and
argillaceous rocks
Turbidite
Waulsortian
Volcanogenic Massive Sulphide. A type of base metal deposit associated
with Volcanic rocks.
Mud mounds of carbonate material, and associated sediments, formed
during the upper Courceyan period. This formation hosts the majority of
the Irish Type base metal deposits.
Zn
The chemical symbol for Zinc
VMS
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CLOSURE
This report has been prepared by SLR Environmental Consulting (Ireland) Limited with all
reasonable skill, care and diligence, and taking account of the manpower and resources
devoted to it by agreement with the client. Information reported herein is based on the
interpretation of data collected and has been accepted in good faith as being accurate and
valid.
This report is for the exclusive use of IMC no warranties or guarantees are expressed or
should be inferred by any third parties. This report may not be relied upon by other parties
without written consent from SLR.
SLR disclaims any responsibility to the client and others in respect of any matters outside
the agreed scope of the work.
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Competent Persons Report for Prospecting Licences held by IMC

Transcription

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