Geoscience technology disruptor SensOre Ltd. (ASX: S3N), together with joint-venture partners Torque Metals (ASX: TOR) and Jindalee Resources (ASX: JRL), is pleased to announce imminent commencement of a maiden drill program at Maynards Dam. The project area includes the Marloo project with partner Monger Exploration (a subsidiary of Lefroy Exploration (ASX: LEX)). Drilling will follow recent completion of an initial and extensive heritage survey over the project area.

HIGHLIGHTS

  • SensOre is preparing for maiden drilling at Maynards Dam and Marloo prospects in the Goldfields region of WA, which have shown potential to host a major gold system
  • SensOre’s AI technology has identified two targets in the north of the Maynards Dam project area and additional targets in the south along strike from recent Torque Metals discoveries
  • Marloo is a new tenement at Maynards Dam held with Lefroy Exploration subsidiary Monger Exploration
  • SensOre has planned up to 5,500m of air core drilling at Maynards Dam and Marloo based on historical results, gravity geophysics and new surface geochemical samples.

Chief Executive Officer Richard Taylor said:

“SensOre has undertaken extensive work on the Maynards Dam project in the lead up to our maiden drill program including necessary heritage work as a prelude to drilling. Our AI system has identified two special targets in the northern project area and recent surface geochemistry has identified additional targets in the south of the tenement, along strike from recent discoveries by Torque at Strauss and Lady Doris prospects. We are excited by recent and historical results that show the project has potential to host a major gold system. With the recent addition of the Marloo tenement, SensOre has built a significant land package over this prospective domain.”


Figure 1: Maynard’s Dam interpreted geology and historical drilling, including recent drilling results announced by Torque Metals south of the Maynard’s Dam and Marloo project area

The Maynards Dam project area is 90km southeast of Kalgoorlie and 25km east of Jindalee Resources’ Widgiemooltha Project and Gold Fields’ (JSE: GFI) St Ives gold complex. Historical drilling records at Maynards Dam indicate intercepts of up to 4m @ 21.21g/t Au from 22m. 1 The Maynards Dam project together with Strauss and Lady Doris prospects as well as Paris mine are inferred to be in a similar stratigraphic sequence to St Ives and similar to the Beta Hunt, Revenge and Intrepide deposits. The targets predicted by SensOre’s DPT® system are interpreted as potentially analogues for both St Ives and Norseman style gold systems consisting of intrusion related and structurally controlled auriferous quartz veins. A splay off the Boulder-Lefroy Fault, a regionally fertile structure in the Eastern Goldfields, passes down the western side of the project area.

SensOre’s air core drilling program at Maynards Dam and Marloo is expected to commence once drilling at Greater Balagundi2 is completed. The proposed 5,000m – 5,500m drilling program follows extensive compilation and review of historical exploration activity, reprocessing gravity geophysics at 100m x 200m spacing released in 2021, and the collection and integration of new surface geochemical samples with extensive multielement assays and proprietary analysis by SensOre.

Project background

The Maynards Dam prospect (E15/1752) is held by Jindalee Resources (ASX: JRL). Torque Metals (ASX: TOR) has the rights to acquire an 80% beneficial interest in the tenement. SensOre can earn a 70% interest in the Maynards Dam tenement (51% by expending $3 million within three years – exclusive of permitting and land access – and 19% by delivering a preliminary feasibility study (PFS)). Torque may buy back 10% by paying $0.5 million to SensOre within 60 days of completion of the PFS.

The Maynard’s Dam area also includes the Marloo tenement, shown in Figure 1. Marloo is a farm-in to E15/1498 with a subsidiary of Lefroy Exploration (ASX: LEX). SensOre has the potential to earn up to a 70% interest by expending $800,000 over four years.

The extended area looks to increase tenure over the Parker Domain and capitalise on the major north-south trend that hosts significant intercepts reported by Torque Metals3 close to the combined project area’s southern boundary.

For further information on the Maynards Dam project refer to the Independent Technical Assessment Report (ITAR) (Appendix A to the SensOre Prospectus released by ASX on 9 February 2022), including the Maynards Dam overview (ITAR section 9.3), historical drilling summaries (ITAR Appendix F) and JORC Table (ITAR Appendix M). Other than as reported in this announcement, SensOre confirms that it is not aware of any new information or data that materially affects the information included in the ITAR in relation to Maynards Dam.

This announcement was approved and authorised for release by the Board of Directors of SensOre.

ENQUIRIES

Richard Taylor

Chief Executive Officer

T +61 3 9492 3843

E richard.taylor@sensore.com.au


Evonne Grosso

Media & Investor Relations

M +61 450 603 182

E evonne@nwrcommunications.com.au


Click here for the full ASX Release

This article includes content from SensOre, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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