Background
The two iron properties in which Prime will acquire a 100% interest subject to ASX listing are both located in the Pilbara Region of Western Australia (refer Figure E).
The Dales Gorge property comprises Exploration Licence Application 47/1729 of approximately 210km2 and is located 152 kilometres northwest of the town of Newman. The Great Northern Highway that runs first westward from Newman and then turns to the north is located some 12 kilometres to the east of the tenement.
Bedrock is a sequence of Archaean to Proterozoic rocks comprising the Wittenoom Formation overlain by the Mount Sylvia Formation, the Mount McRae Shale, the Brockman Iron Formation and in the southwest the Weeli Wolli Formation. The sequence is situated on the southern flank of the Yandicoogina Creek Syncline.
Overlying the bedrock are Cainozoic sediments of which the Robe Pisolite is of potential economic importance. Adjacent to and overlapping the eastern boundary of the property is an occurrence of Robe Pisolite channel iron deposit that parallels the present drainage and that has a surface area of around 1.32 million square metres. At the usual bulk relative density of channel iron deposit of 3.0, the potential is for some 4 million tonnes per metre depth. Systematic exploration will be required to assess the depth of the deposit.
Iron mineralisation of potential economic importance is known to be present at one location on the tenement and in addition to this known occurrence of channel iron deposit, there is also potential for other unrecorded deposits on and adjacent to the drainages
of the Dales Gorge property.
No previous exploration is known to have been completed on the Dales Gorge property area.
From exploration work undertaken in other areas, it has been observed that where published geological maps show the Robe Pisolite unit as being present then this is generally reliable although the extent may be in error in detail. However, due to the way in which such maps are prepared, all of the channel iron deposits present are not necessarily detected during the mapping procedure: the surface expression of a channel iron deposit may be very limited. There is also the possibility of channel iron deposit being
completely buried beneath more recent detrital deposits.
In essence, therefore, the known Robe Pisolite occurrence warrants further investigation and more generally all of the drainage lines and adjacent areas on
the Dales Gorge property should be examined for the presence of otherwise unrecorded channel iron deposits.
The Tom Price property comprises Exploration Licence Applications 47/1496 and 1497 that form the northern portion with an area of around 280km2 and Exploration Licence Application 47/1498 that constitutes the southern portion of 60 square kilometres. The northern and southern portions are 17 kilometres northeast and 15 kilometres southsouthwest of the Tom Price iron ore mine (refer Figure E).
Bedrock on the property is a sequence of Archaean rocks comprising the Bunjinah Formation overlain by the Jeerinah Formation. The Marra Mamba Iron Formation and the Brockman Iron Formation are present adjacent to the property. The sequences of the two portions of the property are located on the northern and southern flanks respectively of the
Mount Turner Syncline.
Overlying the bedrock are Cainozoic sediments of which the Robe Pisolite is of potential economic importance. Southeast of the southern portion of the property is an occurrence of Robe Pisolite channel iron deposit. To the northeast of the southern portion is the
Southern Plain Detritals deposit that has been explored and exploited whilst to the east there are interpreted canga deposits: these latter two deposits are evidence of the presence of iron rich detritals and of the southward movement of high iron clasts from the
Marra Mamba Iron Formation and Brockman Iron Formation outcrops.
The potential of the Tom Price property for iron mineralisation is therefore for channel iron deposit and similar materials.
Exploration Program
Initial exploration of the Dales Gorge and Tom Price tenements will comprise a detailed review of satellite and aerial photography followed by ground truthing of the remote sensing interpretation.