iTech Boosts Sabre Prospect Strike Length by 60%, Eyes New Drill Targets
iTech Minerals has significantly extended the strike length of gold-antimony mineralisation at its Reynolds Range Project, revealing new high-priority drill targets and advancing its lithium deal with SQM.
- Strike length at Sabre Prospect increased from 500m to 800m
- New geological model identifies stacked fold hinges controlling mineralisation
- Major geophysical surveys completed, mapping new gold-antimony targets
- Historical drill data corrected, improving prospectivity at Sabre and Falchion
- Lithium deal with SQM nearing first $2 million payment upon regulatory approval
Reinterpreting Reynolds Range
iTech Minerals Ltd (ASX, ITM) has delivered a compelling update on its Reynolds Range Project in the Northern Territory, revealing a substantial reinterpretation of gold and antimony mineralisation that expands the known strike length at the Sabre Gold-Antimony Prospect from 500 metres to 800 metres. This reinterpretation stems from correcting historical drill hole data that had been misplotted, allowing a more coherent geological model to emerge.
The company’s geologists now describe the mineralisation as controlled by a series of stacked fold hinges trending northwest-southeast. This structural model not only aligns previously inconsistent drill results but also highlights new high-priority drill targets down plunge, along strike, and in repeated hinge zones to the northeast and southwest.
Falchion Prospect and Regional Potential
Similar data corrections and modelling at the nearby Falchion Gold-Antimony Prospect have identified a 400-metre-long sigmoidal mineralised zone open to the east and at depth. The improved geological interpretation at Falchion, coupled with the Sabre findings, suggests a broader regional system with significant exploration upside along the Stafford Gold Trend.
Both prospects show strong associations between gold and antimony mineralisation with disseminated sulphides such as pyrrhotite, which also correlate with subtle magnetic anomalies. These geophysical signatures have been instrumental in identifying over 18 kilometres of prospective structures coincident with a regional antimony soil anomaly, enhancing the scope for future discoveries.
Geophysical Survey Success and Upcoming Drilling
During the quarter, iTech completed an extensive geophysical program employing moving loop electromagnetics (MLEM), gradient array induced polarisation (GAIP), and dipole-dipole induced polarisation (DDIP) surveys. Preliminary results have been promising, successfully mapping extensions of mineralised structures in areas with limited outcrop and pinpointing compelling drill targets.
At the Reward Prospect, MLEM surveys delineated a 1.3-kilometre-long electromagnetic anomaly beneath surface workings, suggesting potential for high-grade massive sulphide mineralisation beyond historical drilling. Meanwhile, diamond drilling at the Scimitar Prospect did not intersect massive sulphides but revealed lead-zinc-silver rich veins, indicating a mineralising system warranting further investigation with down-hole EM surveys.
Financial Position and Lithium Deal Progress
Exploration expenditure for the quarter was approximately $940,000, primarily focused on drilling, assays, and geophysical surveys across Reynolds Range and other projects. The company ended the quarter with $1.7 million in cash. Importantly, iTech expects to satisfy the final condition precedent in its lithium deal with Sociedad Química y Minera de Chile (SQM) in the coming quarter, triggering a first payment of $2 million. This milestone is contingent on approval from the Central Land Council, a key regulatory step.
With a strengthened geological framework, new geophysical data, and advancing corporate agreements, iTech Minerals is positioning itself to accelerate exploration and development activities across its portfolio of battery and critical mineral projects.
Bottom Line?
iTech’s refined geological models and geophysical successes set the stage for a pivotal drilling campaign and potential lithium deal milestone.
Questions in the middle?
- Will upcoming drilling confirm the expanded gold-antimony mineralisation at Sabre and Falchion?
- How will the Central Land Council’s approval impact the timing of the lithium deal payment from SQM?
- What are the implications of the new geophysical anomalies for discovering economic massive sulphide deposits?
