Mt Molloy

The Company holds an 8 ha mining lease and surrounding 62 sq km EPM at Mt Molloy where little exploration has been carried out at this mining camp since the 1980's. Mt Molloy has previously been classified as a modest high grade CU-Zn VMS deposit.

Comprehensive re-examination of past data (from a study of the database including reconnaissance samples collected by Ozmin geologists) shows a geochemical signature for the mineralisation typical of an intrusive source. The fact that mineralisation is spatially related to an aeromagnetic low and several quartz-feldspar porphyry dykes have been located also supports the possibility of a deep seated mineralised porphyry source

Background
Extensive old copper/gold workings are present within the Mount Molloy project area which is held under a single ML and a surrounding EPM. Details of the current project tenements are summarised in the table below. The high grade Mount Molloy deposit remains open at depth and represents an attractive exploration target for Ozmin.

 

Location, Access and Topography
The Mount Molloy base metal project is located approximately 42km by road north of the north Queensland regional town of Mareeba and approximately 3km south of the village of Mount Molloy. Access from Mareeba is via a sealed highway and Mount Molloy village can provide basic accommodation and supply facilities. The project area is characterised by moderately rugged topography mainly covered by native forest.

Mining and Exploration History
Copper was discovered at Mount Molloy in 1883 and small scale mining of the copper oxide mineralisation was undertaken until 1902. From 1905 to 1909 the Mount Molloy Mining Syndicate undertook more systematic mining and the mine was briefly worked again by tributers in 1918. The deepest shaft reached a vertical depth of 143m with ore zones, up to 3.6m wide, assaying up to 20% Cu. Recorded production is 44,000t of ore averaging 8.7% Cu and although significant reportedly high grade zinc was present, it was not recovered due to the depressed zinc market at the time. When the mine closed in 1909, about 20,000t averaging 3% Cu was reported as remaining within the mine.

Modern day exploration began in about the mid 1960s and continued until approximately 1990. Little exploration has been conducted at this mining camp since then.

Project Area Geology and Mineralisation
The mine lies within the Devonian Mount Molloy Beds (consisting of greenish grey to black siltstones, shales and sandstones), and along a north-northwest trending fault between this unit and the underlying meta-sediments and volcanics of the Hodgkinson Formation (Figure 9). In the mine area itself, which occurs on the western limb of a synform, the Mount Molloy Beds have been intruded by a variety of acid to basic dykes and sills, some probably related to the Mt Carbine Granite which outcrops some 4km to the north. Some of the dolerite sills are conformable with the folded bedding and clearly predate the structural deformation. The synform within which the mineralisation is located can be traced over a strike length of 2km and is approximately 1.6km wide.

Mt. Molloy has previously been classified as a modest high grade Cu-Zn VMS deposit. Past drilling produced mineralised intersections that include 11m of 5.3% Zn and 1.3% Cu.

During the quarter comprehensive re-examination of past data (from a study of the database including reconnaissance samples collected by Ozmin geologists) shows a geochemical signature for the mineralisation typical of an intrusive source.

Click on image to enlarge

The mineralisation appears to be stratigraphically controlled and restricted to a 50-80m thick interbedded sequence of pyritic black shale and quartzite, which is underlain by a volcaniclastic breccia-siltstone sequence.

Exploration Undertaken by Ozmin
To date work by the company has included acquisition of government airborne magnetic data which has been used to produce the magnetic images shown on Figure 9. While a full analysis of the magnetics is still being undertaken, the association of the Mount Molloy Mine with a well defined magnetic low is believed to be significant with respect to developing targets for ongoing exploration. The fact that mineralisation is spatially related to an aeromagnetic low and several quartz-feldpsar porphyry dykes have been located also supports the possibilty of a deep seated mineralised porphyry source.

The company is continuing to compile all the historical drilling and geochemical data into a digital database and this will be utilised to guide additional detailed exploration of the Mount Molloy Mine area as well as regional exploration of the project area. During 2006, the company sponsored a geological honours student from James Cook University who undertook a detailed study of the Mount Molloy Mine area.

Future exploration will be directed toward defining the extent of the Zn-Cu zone intersected in the drill hole reported above and conducting IP surveys to test for deeper intrusive related targets not yet discovered.