Mt Lyndhurst
The Mt Lyndhurst Project comprises two Exploration Licences located approximately 50km northeast of Leigh Creek in the northern Flinders Ranges. The licences, Mt Lyndhurst (EL 3522) and Mt Lyndhurst South (EL 3550), cover a total area of 842km2. The tenure of both tenements was renewed for a further 2 years in March/April 2009.
After receiving promising drilling results at the White Lead prospect in a 7 hole RC drilling program in April 2008, Syrah completed a follow-up wide spaced RAB drilling program to test additional areas along the strike of the prospective horizon. The drill program occurred in September 2008, with 60 RAB holes completed for a total of 2,237m. The RAB holes were drilled on 100m-spaced grid lines along a 3km strike length of the east-west trend of the host stratigraphy.
The RAB program provided further encouraging copper intercepts that suggest economic potential may exist at the project. A summary of significant copper intersections from the RAB program, using a 0.3% Cu cut-off grade, is provided in Table 1.
| Hole ID | From (m) | To (m) | Interval (m) | Cu (%) |
|---|---|---|---|---|
| RB028 | 12 | 22 | 10 | 0.57 |
| RB050 | 26 | 32 | 6 | 0.68 |
| 12 | 18 | 6 | 1.06 | |
| 28 | 32 | 4 | 1.02 | |
| RB055 | 2 | 12 | 10 | 0.70 |
| RB060 | 26 | 32 | 6 | 1.50 |
The RAB program successfully identified five areas where the copper oxide mineralisation exhibits continuity, as shown in Figure 1. There are numerous locations where the copper mineralisation has not been fully closed off by the drilling and remain open, either along the strike of the prospective horizon, or to the north and south where anomalous copper grades exist in the adjacent sandstone unit. It is significant that the fence lines drilled were on a wide spacing at 100 metre intervals, therefore the continuity of the mineralisation remains to be confirmed with further in-fill drilling.
Zurich Resources Joint Venture
Syrah Resources announced in 2009 that it had signed two individual MOU’s with Zurich Resources Pty Ltd providing Zurich the right to explore and develop Syrah’s Lyndhurst and Lyndhurst South Exploration Licences. Under the terms of these Agreements, Zurich will conduct geophysical surveys for sulphide copper mineralisation as well as continue further exploration of the oxide copper prospects.
