Northern Territory Dogfight Prospect
Spitfire holds a 70% interest in a group of five exploration licences and a 100% interest in 2 Exploration licences 380km south-west of Katherine in the Northern Territory. Spitfire’s tenements span a total area of 6,635km² covering prospective magnetic and structural features.
Due to previous and ongoing work being conducted in the area, the region has been determined to hold high prospectively for base metals to occur mainly through their accumulation within sulphur sinks such as shales fed by fluids transported along the regional and local faulting.
In early August 2011, Spitfire conducted a week long helicopter reconnaissance field program to follow-up targets produced through both desktop studies and ongoing correspondence with an external copper consultant. The outcomes of this program were;
- Redefined and focused targeting of base metal mineralisation to particular lithological units
- A better understanding of the potential source of the metal bearing fluids
- Several rock chip samples being taken for XRF and fire assay analysis
- Re-evaluation of land-holdings and the acquisition of additional prospective ground
The next planned phase is the use of airborne geophysics to survey identified corridors and use this to help determine viable diamond drilling targets for the next reporting year. The Company is pleased to have secured this interest in such a large and focused tenement package, and will continue to evaluate new acquisitions, to provide maximum exposure in such a highly prospective emerging minerals region.
