In September 2015, Ram announced it had secured an option to acquire an 80% interest in the West Kimberley Project located 95km north-east of Derby. The project consists of two tenements, E04/1972 (granted) and E04/2314 which cover the north-west extension of the Ruin Dolerite, which hosts Buxton Resources Double Magic nickel sulphide discovery.
Since entering the option agreement, Ram has undertaken preliminary exploration activity including 219-line km of VTEM resulting in the definition of 17 VTEM anomalies. Follow up ground EM across VTEM anomalies produced Strong EM conductors including identification of three high priority bedrock EM conductors.
The maiden drill program at West Kimberley revealed the presence of strong sulphide mineralisation with anomalous silver and zinc values up to 2.7 ppm Ag, 0.13% Zn and minor base metal values.
The drilling intersected sulphide mineralisation horizons within metamorphic basinal sediments of the Marboo Formation. Geochemical analysis indicates that Ram’s drilling may have intersected the distal part of a zoned exhalative sedimentary (SEDEX) style mineralisation.
Four rock chip grab samples were also collected for gold (Table 1), with a new gold prospect (Tim Prospect) identified. The quartz outcrop, within the Marboo Formation is more than 400m long, 1m to 5m’s wide and orientated in a general NW-SE direction. The best assay results from the Tim Prospect returned 5g/t Au from a ferruginous boxwork quartz vein. The Tim Prospect and the Robinson River historical gold prospect are 8 km apart and both within 4 km of Ram’s May 2016 drilling program.
Ram is currently developing an exploration protocol for gold and exhalative sedimentary (sedex) style mineralisation.
The traditional exploration program will include soil geochemistry and a gravity survey. The age of sediments (paleo-Proterozoic), regional setting with intrusive Ruins Dolerite sills, and known and mined Zn-Pb Mississippi Valley Type Deposits in the area combined with elevated base metals values within sedimentary units in the system support further exploration for base metals mineralisation.
The 100% owned Fraser Range Project consists of three granted exploration licenses (EL28/2209, EL28/2210 and EL63/1528) covering a combined area of 271km2 in the Fraser Range, Western Australia. The Fraser Range region remains an area of significant base metals exploration and boasts world class discoveries including the Nova nickel copper massive sulphides discovery, Sirius Resources NL (ASX:SIR), located approximately 20km east of the Fraser Range Project.
The Fraser Range Project holds potential for base metals with the presence of a prospective magnetic unit which extends from tenements held by Sirius Resources NL and Enterprise Metals Limited (Figure 1). The magnetic feature extends to the southwest and contains the Yardilla nickel prospect on the adjoining tenement
Since acquiring the Fraser Range Project, Ram has completed 1,000 soil samples, 1,363 line km of versatile time-domain electromagnetics (VTEM) and approximately 30 km of Moving Loop Electromagnetic (MLEM). The combination of exploration techniques has identified six priority targets with five of the MLEM targets sitting within the Yardilla Structure (Figure 1). The MLEM targets were aircore drilled in August 2014.
Just over 2300m of aircore drilling was undertaken for 71 vertical drill holes with an average depth of 37m. The main area of focus was the south-eastern section of the tenement where the drilling confirmed high grade metaphoric mafic assembles.
The drilling program was designed to refine six priority targets for deeper drilling at the Fraser Range Project. The aircore confirmed mafic lithology in Targets MELM L2/1, MELM L2/2, MELM L4/1, MLEM L5/1, and MLEM L6/1 these targets are under review for deeper drilling. No mafic units were intercepted at MLEM L14/1.
The geochemical and geophysical data sets were also reviewed for gold potential. Both are positive, with the Yardilla Structure on the eastern edge of the project area hosting historical elevated gold values. The project area has an extremely limited geological outcrop as is the case for large areas of the Fraser Range and geochemistry and geophysics have been the main exploration tools.
In February 2017, Ram entered an option agreement to acquire an 80% interest in the advanced Keel Zinc Project in Ireland. The agreement entitles Ram to conduct a 1-month exclusive due diligence study expiring in March 2017 with a 12-month clause in which to exercise the option. The company has commenced due diligence investigations which will include a thorough assessment of more than 40,000m of available drill data.
Since 1960 Ireland has had a string of significant zinc-lead discoveries with an estimated 14MT of zinc metal being found, ranking it first in terms of Zinc discoveries per square km, and second in the world for lead discovered per square km (Source: Exploration and Mining Division Ireland 2014).
The Keel Zinc Project is situated in County Longford, south of Longford Town in Ireland. The project area, covering 66 km2, is comprised of two Prospecting Leases P185 and P186.
The area is covered mainly by agricultural land, much of which is poorly drained pasture and minor forestry. Both tenements have been held by major mining companies since the 1960’s, including Prospect Rio Tinto Finance & Exploration Plc (1963-2001) and Lundin Mining (2006-2012). Historical diamond drilling by Rio Tinto, Boliden Group, Lundin Mining and others has delineated two main mineralised horizons (Figure 2) more than 1km in length. Zinc, lead and silver grades from annual reports are high grade sitting within the Keel Fault system.
Ireland has widespread carbonate succession known as favorable hosts for Zinc deposits. The main area of carbonate occurs in the world class ore field of the Central Ireland Basin mineral province. The Keel Zinc Project sits within this central Ireland Basin. The Central Ireland Basin is dominantly formed by Navan Group Beds and shallow water carbonates.
The Keel Zinc Project is underlain by the prospective Lower Carboniferous carbonates of Navan Group. Both of the primary stratigraphic targets of the Irish carbonate orefield are present in the project area, the Waulsortian Limestone and the Navan Beds. The Navan beds host the world class Navan zinc-lead mine, Europe’s largest zinc mine.
The Waulsortian Limestone (up to 1,500m) are a regional host for a number of base metal deposits, Tynagh, Silvermines, Glamoy, Lisheen and Harberton Bridge deposits. The Waulsortian Limestone sits on the eastern side of project area and has not been a focus for historical exploration.
For further information about Ram Resources Limited, please contact us:
Level 2, Spectrum
100 Railway Road,
Subiaco WA 6008
PO Box 1592
Booragoon WA 6954
Facsimile: + (61) 8 9367 8812
+ (61) 8 9316 1016
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