Leogang

 

The Leogang Project is located approximately 3 km west of Leogang (population circa 3,200) and 11 km west of Saalfelden (population 16,000) in the District of Zell am See, Federal State of Salzburg.

The Exploration Area comprises 30 freischürfe and covers a total area of approximately 12 km², including the historical Nockelberg and Leogang mine sites (Figure 1.).

 

                                Figure 1. The Exploration Area comprises 30 freischurfe and covers a total area of approximately 12 km², including the historical Nockelberg and Leogang mine sites (Figure 1).

 

Leogang was famed for the diversity of its mineralogy and rich ore grades, with nickel and cobalt mined in the region from the mid-16th century. At various times in its past, cobalt, nickel, copper and silver have been mined in the area. Despite the historical mining records being incomplete and unreliable, it is clear that a mineralised body has been exploited over a considerable period of time.

 

                                                                                              Table 1. Historically reported results within the Cobalt rich Leogang-Nockelberg area. 

 

The limited exploration and research material that exists comes from geological surface mapping and sampling of outcrops or exposures within the remaining accessible adits. Collectively this body of work has noted the complex structural environment as well as a strong strata-bound component to the cobalt bearing mineralisation which, coincidentally, was not the focus of historical exploitation. Recent works by the project, supported by significant geological modelling, waste dump sampling, soil sampling and field mapping has resulted in the delineation of a substantial Exploration Target*.

 

                                                                                                         Table 2. Nockelberg Exploration Target* dated 30 March 2018

 

                                                                                              Figure 2. Geological modelling showing the planned drilling at the Nockelberg Project

 

Figure 3. Geological modelling showing 3D projections of two target zones and planned drill holes

 

The Company has completed a geophysical program over the historic Nockelberg Mine and an extension area to the north east.

The program involved the acquisition of 6 profiles of a combined geo-electrical (DC), induced polarization (IP), and electric spontaneous potential (SP) survey data (Figure 4.). In addition, a ground magnetic survey was acquired to supplement the other geophysical data (Figure 5.).

The program was intended to test the geophysical response of the mineralized section assumed to be recovered from the historic Nockleberg mine. Specifically, the geology has high contrast rock types being the target dolomite layers and the adjacent graphitic shales. Theoretically a difference in both magnetization of contained minerals, and conductivity of them creates a significant difference in geophysical response across the combined techniques used.

The survey included lines acquired over the known adits, as transposed in three dimensions as a calibration, and extended east and west of that main objective to provide insight on its possible extents.

As a result, known (assumed) mineralization still present subsurface appears as a strong signal on the main calibration profile, and, by extension, the derived anomaly pattern was found to replicate on other profiles acquired (Figure 6 – 3d model and Figure 9 Profile 3).

Based on the results, the complex anomalies of potentially mineralized dolomites in the Nockelberg prospect comprise:

  1. SP – low to very low readings
  2. DC – slighltly higher resistivity than the graphic shales
  3. IP – very strong signal
  4. Magnetics – elevated versus the surrounding rock

 

Figure 4 – Location map of DC, IP and SP survey profiles

 

Figure 5 – Location map of ground magnetic survey points

 

Figure 6 – 3D Drape of IP survey over Nockelberg

 

Figure 7 – IP Profile 1

 

Figure 8 – IP Profile 2

Figure 9 – IP Profile 3

 

Figure 10 – IP Profile 4

 

Figure 11 – IP Profile 5

 

Figure 12 – IP Profile 6

 

The drilling is planned to be spaced approximately 150m apart and is scheduled to be undertaken in the 2018 Austrian summer with its expected initial results in Q4 CY2018. The proposed locations, shown on the above figures, are subject to confirmation from regulatory bodies and landholder access agreements. As such, they are regarded as preliminary and subject to change.

 High Grade Metals Ltd

Level 17, 500 Collins Street
Melbourne, VIC, 3000

T: +61 3 9614 6000

E: info@highgrademetals.com.au

ACN: 062 879 583



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