Caldera finds little resistance

A ground electromagnetic survey by Caldera Resources (CDR-T) has outlined several conductive bodies at the Mt. Sarah property in South Australia.

Roughly 6.8 km was surveyed along four lines to cover parts of a surface zone of strong clay-carbonate alteration and a coincident gravity anomaly. Some of the conductive bodies measured up to 40 metres thick.

Earlier work at Mt. Sarah outlined two separate gravity anomalies associated with a deeper and larger magnetic feature. The hydrothermal alteration zone is coincident with the shallower gravity high and is further characterized by three elongated gossanous bands, the largest of which is 150 metres long by 50 metres wide.

Caldera will renew the program early in 2003 in order to connect the northern and southern lines. The southern lines will be extended farther south to cover areas where more surface alteration has been mapped.

The Mt. Sarah property sits in the G2 structural corridor, famous for its association with the massive Olympic Dam copper-uranium mine of WMC Resources (WMC-N). The deposit is the world’s-sixth largest repository of copper and largest repository of uranium, hosting some 2.7 billion tonnes at a grade of 1.2% copper and 0.04% uranium oxide, plus 0.5 gram gold and 2.7 grams silver per tonne.

Caldera operates and owns a half-stake in the Mt. Sarah project. The remainder is held by Australian-listed Ellendale Resources.