Correlation between holes one and two at Riva’s Tabac cobalt-gold project
Published 18-MAY-2017 13:01 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Cobalt-gold exploration group, Riva Resources (ASX: RIR) has completed the second hole of the company’s ‘proof of concept’ drilling phase at its Tabac cobalt-gold project located 30 kilometres west of Wiluna in Western Australia.
The hole was aimed at testing for potential cobalt bearing mineralisation within the Bubble Well Member (BWM) in the western sub-basin. On May 3, RIR announced that its first hole had intersected substantially altered and brecciated stromatolitic BWM, the target horizon with potential cobalt bearing mineralisation of 110 metres in width starting from 148 metres.
With regard to results on the second hole (TDD002) released on Thursday, management said it was terminated in Finlayson Sandstone at approximately 320 metres, having intersected 102 metres of the target BWM starting from 192 metres.
The hole, TDD002, tested the basal sequence of the Johnson Cairn Formation (JCF) and the underlying BWM for potential cobalt-mineralisation on the eastern flank of the western sub-basin. RIR noted that core recovery throughout the hole’s development was excellent, including within the BWM.
More specifically, the company’s Managing Director Jonathan King said, “This hole differs from the earlier hole TDD001, where Riva’s geologists noted a regional scale hydrothermal alteration and mineralising system, and where graphitic shales of the Maraloou Formation were observed to unconformably lie on BWM”.
King also noted that mixed sedimentary sequences of the JCF including siltstones, shales, and pink coloured dolomite lay over BWM rocks in the second hole. Thereafter though, the stratigraphy closely resembles that intersected in TDD001, including the rocks of the BWM, and the underlying red siltstones and arenites of Juderina Formation (JF) and sandstones of the basal Finlayson Member.
King believes these differences are related to the location of the holes in separate sub-basins. On this note, he is of the view that TDD001 developed in the eastern sub-basin, is located adjacent to a north-south trending, presumably reactivated, major fault.
By comparison, TDD002 lies in the restricted (sheltered) western sub-basin developed mostly over Archaean-aged greenstone rocks. In this hole, pink coloured dolomite was observed in the lower sections of the JCF, throughout the BWM, and into the upper parts of the lower JF.
While the colour is most likely related to dolomite, brighter pink coloured secondary dolomite may be reflecting redox reactions and metal substitution of cobalt or manganese within the carbonate. The brighter pink material is distributed throughout the interval, and as was evident with the first hole appears more prevalent within the BWM.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
