How Altair’s TEM Simulation Could Unlock a Major Copper-Gold Discovery Near BHP’s Oak Dam
Altair Minerals has demonstrated its capability to detect deep copper-gold deposits at its Olympic Domain Project through a successful Transient Electromagnetic (TEM) simulation, setting the stage for a pivotal survey and drilling campaign near BHP’s Oak Dam Deposit.
- Successful TEM simulation confirms detection of deep IOCG deposits
- Upcoming TEM survey to refine drill targets near BHP’s Oak Dam Deposit
- Previous drilling indicates mineralised halos adjacent to major anomalies
- Appointment of Bilal Ahmad as Non-executive Director strengthens board
- Cash balance low at AUD 0.10 million; government grants sought for survey funding
Cutting-Edge Geophysics Advances Exploration
Altair Minerals Limited (ASX – ALR) has taken a significant step forward in its quest to uncover world-class copper-gold deposits at its flagship Olympic Domain Project in South Australia. The company announced a successful Transient Electromagnetic (TEM) simulation that validates its ability to detect and precisely locate deeply buried iron-oxide copper-gold (IOCG) mineralisation at depths exceeding 1,000 metres. This breakthrough confirms that Altair is ready to proceed with a full-scale TEM survey, a critical next step to delineate drill targets with greater accuracy.
The Olympic Domain Project lies within the prolific Gawler Craton, a region renowned for hosting some of Australia’s largest IOCG deposits, including BHP’s Oak Dam West, Olympic Dam, and Prominent Hill. Altair’s project area is strategically positioned just 5 kilometres northwest of BHP’s Oak Dam Deposit, which boasts an inferred resource of 1.34 billion tonnes grading 0.66% copper and 0.33 grams per tonne gold.
From Simulation to Survey – Mapping the Depths
The TEM simulation tested various geological scenarios and demonstrated that large conductive bodies analogous to Oak Dam produce strong, clear signals at depths between 800 and 1,100 metres. This capability is crucial given the significant depth at which high-grade IOCG deposits typically occur in the region. The planned TEM survey, combined with existing 3D Audio-Magnetotelluric (AMT) and gravity data, will enable Altair to pinpoint the precise depth and extent of conductive anomalies, guiding drill rigs directly to the most prospective zones.
Importantly, the simulation suggests that any TEM anomalies coinciding with gravity or AMT conductors would likely indicate mineralised units enriched in hematite and sulphides, hallmarks of IOCG systems. Previous drilling near these anomalies has intersected broad zones of copper equivalent mineralisation, interpreted as peripheral halos to a potential major mineralised core that remains untested.
Strategic Targets and Next Steps
Altair’s immediate focus is on the Horse Well Project within the Olympic Domain, where four prominent geophysical targets remain untested. Historic drill holes such as HWDD05 and HWDD08 have returned encouraging copper equivalent intercepts over significant widths, reinforcing the potential for a major discovery. The upcoming TEM survey will refine these targets by defining their spatial size and depth, setting the stage for a high-conviction discovery drill program.
Beyond Australia, Altair is advancing exploration at its Venatica Project in Peru, situated along the prolific Andahuaylas-Yauri Porphyry Belt. The company continues systematic sampling and mapping to identify high-grade copper anomalies and structurally controlled porphyry targets, complementing its Australian efforts.
Corporate Developments and Financial Position
In corporate news, Altair appointed Mr Bilal Ahmad as a Non-executive Director, bringing extensive investment experience across resources and technology sectors. This appointment coincides with the resignation of Mr Nochum Labkowski, reflecting ongoing board evolution to support the company’s growth ambitions.
Financially, Altair reported a modest cash balance of AUD 0.10 million at quarter-end, underscoring the importance of securing government research grants to fund its innovative TEM survey. The company is actively pursuing these grants and remains confident in its ability to raise additional capital as needed to advance its exploration programs.
Bottom Line?
Altair’s successful TEM simulation marks a pivotal moment, but the upcoming survey and drill results will be decisive in confirming the Olympic Domain’s potential to host a world-class IOCG discovery.
Questions in the middle?
- Will the upcoming TEM survey confirm coinciding anomalies that justify a major drilling campaign?
- How will Altair manage funding constraints given its low cash balance and ambitious exploration plans?
- What impact will Bilal Ahmad’s appointment have on Altair’s strategic direction and capital raising efforts?