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Annual Report 2015 55
Figure 24: Bryah Basin Joint Venture tenure
7,200,000mN
7,175,000mN
7,150,000mN
675,000mE
700,000mE
725,000mE
750,000mE
675,000mE
700,000mE
725,000mE
750,000mE
7,200,000mN
7,175,000mN
7,150,000mN
Horseshoe Lights
Harmony
Jubilee
Peak Hill
Mount Pleasant
DeGrussa
Magnus
Fiddler
Fiddler South
Bullgullan Bore
Neptune
Churchill
Wilgeena St Crispin
Jones
Henry
Seaborg
Central Bore
Halloween
Old Highway
Reefer Well
Bryah Basin JV
IGO Active
Cu-Au Mine/Prospect
Au Mine/Prospect
Bangemall Group
Granite
Bryah Group
Prospective Stratigraphy
Peak Hill Schist
Padbury Group
Mine
0
10
kilometres
MGAZone 50 (GDA94)
N
0 500
kilometres
Perth
Geraldton
WA
Bryah JV
Kalgoorlie
Location Map
Bryah Basin Joint Venture (IGO Manager and Earning 70% – 80%)
The Company has an exploration alliance with Alchemy Resources Limited (ASX: ALY) under which IGO can earn a 70% – 80%
interest (excluding iron ore) in ALY’s Bryah Basin portfolio of tenements. The Bryah Basin JV tenure is situated approximately
40km west, along strike from the DeGrussa Cu-Au VMS deposit currently being mined by Sandfire Resources Ltd (ASX: SFR)
and covers the same prospective Narracoota Volcanic – Karaluni Formation host stratigraphy. The IGO exploration team
has extensive VMS exploration and discovery experience through its Jaguar and Stockman projects and is applying similar
exploration techniques developed at these projects to the exploration of the Bryah Basin JV Project.
A full data review was completed with a specific focus on determining those areas along the prospective contact that had not
been fully or effectively tested by past exploration. Following this review, MLEM and broad spaced AC geochemical programs
were completed across priority areas to identify conductors and geochemical responses potentially representing buried massive
sulphide mineralisation. This work highlighted the Neptune prospect, comprising a strong multi-element (Au-Cu-Ag) geochemical
anomaly with semi-coincident MLEM conductors as a high priority for follow-up.
Late in FY2015, IGO commenced a drilling program comprising five RC holes and three RC/diamond tail holes on five sections
nominally 500m apart to test 2km of strike of the prospective Narracoota basal contact. The diamond drilling component of this
program was part funded by the Western Australian Governments Exploration Incentive Scheme.