The Koa tenement remains largely unexplored due to the Karoo sediment cover. A better understanding of VMS formation, the favourable geological environment and major advances in airborne electromagnetic technology, make the covered Areachap Terrane a prime target for new discoveries.
Lukin Resources completed the first phase of an airborne magnetic and electromagnetic (AEM) survey at Koa in March 2021 (Figure 21 & Figure 22). The survey targeted a 29 km strike of the southern extension of the Areachap stratigraphic horizon (paleo seafloor) that hosts the Prieska VMS deposit. A total of 1,423-line km of flight lines covering 254 km2 or approximately 25% of the Prospecting Right area was completed.
Source: Pivot Mining Consultants (Pty) Ltd, Independent Geologist's ReportFigure 21. Location of the Koa Phase 1 AEM survey (the area highlighted in green)
Source: Pivot Mining Consultants (Pty) Ltd, Independent Geologist's ReportFigure 22. Plan showing the flight lines of the Phase 1 AEM survey, Koa Project
Lukin Resources plans to execute a two-year exploration program targeting:
After processing the Phase 1 airborne geophysical data, AEM anomalies that may represent sulphide mineralisation will be identified and prioritised for follow-up. The following exploration activities will be completed over the next two years:
Reconnaissance drilling of first order EM conductors to confirm the nature of the conductors. The proposed exploration programme is estimated to cost AUD 940,300 to be expended over a 2-year period.
The work program will translate into an exploration expenditure of AUD 940,300 at Koa over the next two years.
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