Pilbara Minerals (PLS)

Shares / Stock Code

PLS

Stock Exchange / Sharemarket

Australian Securities Exchange

Pilbara Minerals (PLS) has interests in four project areas in the West Pilbara region of Western Australia and an exclusive option to acquire a single project in Bengkulu Province, Sumatra, Indonesia. The project areas in the West Pilbara, known as Mt Wohler, Pyramid, Maitland and Kylena cover approximately 1,715 square kilometres and are considered to be prospective for base metals, PGE and/or gold mineralisation associated with concealed greenstone sequences or layered mafic – ultramafic intrusions. The company was listed on Australian Securities Exchange on 19 September, 2007. Investors can trade Pilbara Minerals shares on the Australian Stock Exchange (ASX).

Previous exploration over the Company’s West Pilbara project areas has been reasonably limited. A regional aeromagnetic survey completed by the Bureau of Mineral Resources, Geology and Geophysics (“BMR”) in the mid 1980’s identified a number of magnetic highs beneath Fortescue Group rocks in this portion of the West Pilbara which have formed the basis of the majority of subsequent exploration activity. The magnetic highs have been interpreted as having potential to represent concealed greenstone sequences or layered mafic - ultramafic intrusions in the Archaean basement rocks. There has been no drilling or modern geophysics completed on any of these targets.

The Seluma Iron Sands Project in Bengkulu Province, Sumatra, consists of a single lease considered to be prospective for iron rich heavy mineral sands within beach sands and sand dunes. Previous exploration by the project vendors, PT Pringgondani Rizki Utama (“PT PRU”), and Pilbara has involved three separate shallow sampling programs and a two limited drilling programs, with the majority of this activity focused within the central portion of the lease.

West Pilbara Mineral Tenements

The West Pilbara Mineral Tenements in which the Company has an interest comprise 13 granted exploration licences located south of the regional centre of Karratha in the West Pilbara region of Western Australia and form 4 project areas covering approximately 1,715 square kilometres. These project areas, known as the Mt Wohler, Pyramid, Maitland and Kylena projects, are considered to be prospective for base metals, platinum group elements and/or gold mineralisation associated with concealed greenstone sequences or layered mafic-ultramafic intrusions.

Access to the West Pilbara Mineral Tenements is either east from Karratha on the Great Northern Highway, then south on the Roebourne-Wittenoom road or south-east from Karratha on the Hamersley Iron Railway road then along station tracks. The West Pilbara region of Western Australia makes up the western portion of the Archaean Pilbara Craton and broadly consists of an Archaean granite-greenstone sequence in the north that is unconformably overlain to the south by the Fortescue Group. The project areas are broadly aligned along the unconformity between the Archaean granite – greenstone sequence and the younger Fortescue Group sediments and mafic volcanics.

The Mt Wohler and Pyramid projects are located in areas of the Fortescue Group rocks just south of the unconformity contact with the Archaean granite – greenstone sequence. The Maitland project is predominantly located within the Archaean granite – greenstone sequence, with the unconformity contact occurring in the southern portion of this tenement. The Kylena project is an elongate north south trending tenement that predominantly covers Fortescue Group rocks and extends south from adjacent to the unconformity contact.

A regional aeromagnetic survey completed by the former Bureau of Mineral Resources, Geology and Geophysics (BMR) in the mid 1980’s has identified a number of magnetic highs beneath Fortescue Group rocks in the portion of the West Pilbara where the West Pilbara Mineral Tenements are located. While past exploration has generally focused on these anomalies, there has been no drilling or modern geophysics completed on any of these targets.

The depth of the Fortescue Group cover rocks overlying the magnetic highs is unknown in the Mt Wohler, Pyramid, Maitland and Kylena projects. However, previous modelling has indicated that the cover could range from 500 to 2,000 metres in the Mt Wohler project area. Economic development on any potential discoveries may be impacted by the depth of overburden, with modern geophysics and/or stratigraphic drilling required to test the targets and assess the depth of cover.

Pilbara Minerals (PLS) Products and Services

  • Base metals and precious metals exploration.

Pilbara Minerals (PLS) Locations and Subsidiaries

Pilbara Minerals Head Office
Level 5, 2 Bligh Street,
Sydney, NSW,
AUSTRALIA, 2000
Phone: (02) 8252 9223
Fax: (02) 9475 5435

Pilbara Minerals (PLS) Share Price

Submitted by ASX Listed Company on 30 July, 2010 - 05:15

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