Altair Minerals has validated its ability to detect deep copper-gold deposits at its Olympic Domain Project through a successful TEM simulation, setting the stage for a targeted drilling campaign near BHP’s Oak Dam Deposit.
- Successful TEM simulation confirms detection of deep IOCG targets beyond 1,000m
- Targets located just 5km from BHP’s Oak Dam Deposit with significant historic mineralisation nearby
- Upcoming TEM survey to refine drill targets and depths for a high-conviction discovery program
- Potential to secure government research grants and intellectual property from advanced geophysics
- Active pursuit of joint ventures and earn-in agreements to advance Olympic Domain
A Breakthrough in Deep Mineral Exploration
Altair Minerals Limited (ASX – ALR) has taken a significant step forward at its Olympic Domain Project in South Australia, announcing a successful Transient Electromagnetic (TEM) simulation that confirms the company’s capability to pinpoint deep copper-gold deposits characteristic of Iron Oxide Copper Gold (IOCG) systems. This breakthrough is particularly notable given the challenging depths involved; exceeding 1,000 metres beneath the surface; where such deposits typically reside.
The Olympic Domain Project lies in a prolific geological setting, just 5 kilometres northwest of BHP’s Oak Dam Deposit, a world-class IOCG system with over a billion tonnes of mineralisation. Altair’s simulation demonstrates that TEM technology can effectively detect and map conductive anomalies at these depths, providing a critical tool to guide future drilling efforts.
From Simulation to Survey – Charting the Path to Discovery
The TEM simulation tested various geological scenarios, confirming that large conductive bodies similar to Oak Dam’s mineralised zones produce strong, clear signals at depths between 800 and 1,100 metres. This validation gives Altair the confidence to proceed with a maiden TEM survey designed to delineate the precise depth and extent of multiple high-priority targets identified through previous gravity and Audio-Magnetotelluric (AMT) surveys.
Notably, historic drilling near these targets has intersected significant mineralisation; such as 115 metres at 0.64% copper equivalent from over 1,000 metres depth; suggesting that previous holes may have skirted the edges of a larger, richer mineralised core. The upcoming TEM survey aims to refine these targets, enabling a focused and efficient drilling campaign that could unlock a major discovery.
Expertise and Innovation Driving Exploration
Altair’s geophysical program is led by industry veterans Jim Hanneson and Chris Anderson, whose expertise has contributed to multi-billion-dollar discoveries including Carrapateena and Havieron. Their involvement underscores the technical sophistication behind the TEM simulation and survey design, which is among the deepest and most advanced geophysical studies planned in South Australia for IOCG exploration.
In addition to advancing exploration, Altair is actively pursuing government research grants to support this cutting-edge work and is exploring joint venture and earn-in opportunities to accelerate development. The company’s CEO, Faheem Ahmed, emphasised the strategic importance of this milestone, highlighting the potential to redefine exploration parameters and position Altair as a leading explorer in the region.
Looking Ahead – Unlocking Olympic Domain’s Potential
With the TEM simulation confirming the viability of detecting deep mineralisation and the survey imminent, Altair is poised to enter a transformative phase. The combination of robust geophysical targets, historic drilling data, and advanced exploration technology sets the stage for a potentially world-class copper-gold discovery. The company’s methodical approach balances technical innovation with strategic partnerships, aiming to deliver value for shareholders and contribute to South Australia’s mining future.
Bottom Line?
Altair’s validated TEM approach could soon unlock a major IOCG discovery, reshaping its exploration trajectory and market standing.
Questions in the middle?
- Will the upcoming TEM survey confirm the precise depths and extents of the identified anomalies?
- How will potential joint ventures or earn-in agreements influence Altair’s exploration pace and funding?
- What impact could government research grants have on advancing this cutting-edge geophysical technology?