The Eurelia Project is located within the Adelaide Geosyncline in South Australia and encompasses a large area prospective for carbonatite-hosted REE mineralisation. The project is located within the G2 structural corridor, a continental scale, mantle connected structure associated with REE mineralised IOCG systems and carbonatite and kimberlite intrusions across Australia. The Eurelia Project is a recognised alkaline intrusive centre, with multiple REE enriched carbonatite and kimberlite intrusions. The Eurelia Project has previously been explored for diamonds and copper, with little focus on the REE prospectivity.
The Eurelia Project comprises three separate prospects:
- Eurelia Prospect JV (EL6374) (JV with Copper Claim Pty Ltd)
- Walloway Prospect (Olympio 100%)
- Yanyarrie Prospect (Olympio 100%).
Rock chip sampling and trenching at Eurelia delineated a >10km trend of coincident elevated Nb and REEs at Eurelia, associated with known kimberlite dykes, with up to 819ppm Nb and up to 1.02% TREO in trench samples. Subsequent drill testing confirmed REE enrichment, including:
- 9m @ 1,647ppm TREO from 7m (ORRK7-AC01)
- 9m @ 1,189 ppm TREO from 2m (EAC01)
- 4m @ 1,819 ppm TREO from 5m (EAC02)
- 4m @ 1,656 ppm TREO from 9m (EAC04)
- 2m @ 3,288 ppm TREO from 26m (EAC04)
The recent drilling has confirmed the widespread REE enrichment of mantle derived alkaline rocks in the region. Several high priority targets remain at Eurelia, including the E1 magnetic target.
The Walloway Prospect (EL3912) (100% Olympio) was granted in May 2023, and covers a portion of a defined carbonatite, the Walloway Carbonatite. Limited surface sampling of the carbonatite reveals REE enrichment to 0.2% TREO and 597ppm Nb. Modelling of the magnetic anomaly associated with the carbonatite reveals a large magnetic body dipping towards the north. The Walloway Carbonatite is an under-explored target that remains to be drill tested.
Recent aeromagnetic survey over EL3912 has revealed numerous magnetic anomalies with very similar magnetic and geological context to the Walloway Carbonatite, supported by REE anomalous soil samples. These targets are highly prospective to be further carbonatite intrusives, and will be drill tested in late 2023.
A carbonatite sample has been historically identified on the margin of a barite anomalous zone at Yanyarrie, and is suggestive of a further alakaline intrusive zone. The area remains unexplored for REE and will be assessed in the coming months.