DIAMOND PAGE — Caldera flies Pilbara properties

Having been active up to now in South Australia, Caldera Resources (CDR-M) recently completed geophysical surveys on two properties in the Pilbara Block in Western Australia.

Caldera, which absorbed privately owned Remington Resources in December, now has a package of six properties in Western Australia to complement its original holdings in the Abminga and Oodnadatta areas of South Australia. The principal focus is on the Tabletop East project, which is currently being explored by Stockdale Prospecting, the Australian exploration unit of De Beers Consolidated Mines (DBRS-Q).

There, Stockdale has just completed a detailed airborne magnetic and radiometric survey over seven areas on the property, all of which showed magnetic anomalies in an earlier reconnaissance-scale airborne survey. The detailed survey was done on a tighter grid of 50-metre line spacings, and flown at a sensor height of 20 metres. Each survey block was a square kilometre in area.

Once the data from the survey have been processed, Stockdale will be sampling the overlying soils for kimberlite indicator minerals. Caldera will receive splits of the samples for its own independent analysis.

The agreement between Stockdale and Caldera allows Stockdale to earn a 51% interest by spending A$1 million ($960,000) on exploration over three years. Once it has earned its 51%, Stockdale can increase its interest to 75% by spending a further A$4 million ($3.8 million) over the following five years.

The second Western Australian project seeing work is the Gunanya project, also in the Pilbara block. There, Caldera is following up on earlier airborne geophysical surveys and indicator mineral sampling performed by Remington.

A 3-by-3-km square over the most prospective area on the property was recently flown by Caldera, at the same detailed 50-metre line interval. The airborne magnetic data indicated a circular anomaly that Caldera described as having “high exploration potential.”