The 100% held Alford project is on South Australia’s Yorke Peninsula, 20 kilometres north-east of Wallaroo, within the Olympic Domain, near the south-eastern margin of the Gawler Craton. The Olympic Domain is host to the Olympic Dam deposit, the Prominent Hill deposits and the Carrapateena deposit. The historic Moonta and Wallaroo mining district is immediately to the south of the Alford project area and is currently being actively explored.
Alford Farm-In Joint Venture
The Alford farm-in joint venture involves exploration licence 5212 (previously EL3969). Under the terms of the letter agreement, Sandfire may earn a 75% interest in the Alford tenement, over 2 phases of exploration.
Previous drilling by Argonaut and historical explorers generated significant drill intercepts at Netherleigh Park, which is located within the broader Alford East area. Intercepts were derived from copper mineralisation hosted in a formerly carbonaceous meta-siltstone unit. This unit has been strongly metasomatised in the area of known mineralisation and is adjacent to a meta-basalt unit and granite. Certain, deeper drill holes intercepted primary (hypogene) copper sulphide mineralisation whilst shallower aircore and rotary mud drill holes intercepted related copper oxide mineralisation in the weathered zone above.
The banded high magnetic intensity target area associated with the Alford Fault Zone extends over seven kilometres north - south and up to one kilometre in width. Geophysical modelling has identified numerous prospective, untested geophysical targets in the Alford East area.
These targets are analogous to the mineralisation at the Rex Mineral’s Hillside project, approximately 80km to the southeast. Geophysically, both projects have magnetic and gravity anomalies associated with major regional structures. Geologically, copper mineralisation is sub-vertical and structurally controlled with broad low grade mineralisation envelopes. Mineralisation at the Alford and Hillside projects appears to be related to Hiltaba suite granites.
The Truck Paddock prospect is located within the Alford East area, south of Netherleigh Park.