Opportunity to acquire strategic landholding in an underexplored metal rich basin

Argonaut PCF has been appointed by NT Minerals Ltd (the Vendor) to seek indicative offers for the acquisition, or other such arrangement to the satisfaction of the Vendor, of a package of exploration copper assets (Redbank or the Project) located in the east McArthur Basin of the Northern Territory.

Redbank is host to a JORC (2012) Mineral Resource estimate of 8.4Mt at 1.1% Cu (0.3% Cu cut-off) for 88,600 tonnes of contained copper.

The Vendor has completed extensive bodies of work over the past two years in order to define a maiden Resource, whilst also identifying key drill targets for future streams of work. This work included undertaking Gradient Array IP (GAIP), Dipole-Dipole Induced Polarization (DDIP) ground geophysical surveys, airborne Electro Magnet (EM) surveys, passive ground based Magneto Telluric (MT) surveys and a soil sampling.

The Vendor has continued to advance exploration across its extensive McArthur Basin portfolio with a clear focus on identifying a suite of high-quality drill targets. Indications from geophysical surveying completed in and around the Bluff deposit were highly encouraging with multiple discrete and unexplained high-order chargeability anomalies being identified in the process.

Highlights:

  • Defined JORC Resource with a pathway towards unlocking an economic/scalable project;
  • Expansive landholding (+13,000 km2) which is highly prospective for copper, cobalt, phosphate, manganese and uranium; and
  • Extensive work completed by the Vendor in order to identify follow up drill targets.

Indicative offers are sought by Wednesday, 18 January 2022.