Australia’s Lucapa Diamond Company has announced the discovery of two large, highly conductive base metal targets at its Merlin Diamond Project in the Northern Territory, marking a significant step in the project’s exploration potential.
The findings stem from the first geophysical survey conducted at Merlin in 25 years, unveiling opportunities for significant mineral discoveries.
The targets were identified through a helicopter-borne time-domain electromagnetic (TDEM) survey, which covered the 234 km² project area, including the Merlin mineral lease and surrounding exploration license.
These targets align with geological structures in Proterozoic sediments, bearing strong similarities to the geology of the McArthur River zinc/lead mine, located just 50 km to the north.
“These results are highly promising in an area that has never before utilized advanced geophysical technology. With the proximity to the world-class McArthur River mine, we are excited about the potential for significant discoveries.
Plans for the next phase of exploration are already underway,” said Alex Kidman, Managing Director of Lucapa.
Operated by Glencore, the McArthur River mine is one of the largest zinc/lead deposits in the world, producing over 250,000 tonnes of zinc, 50,000 tonnes of lead, and 1.2 million ounces of silver annually. The geological structures associated with this deposit extend into the Merlin project area, raising hopes for similar high-grade discoveries.
The limited conductive cover in the Merlin area has enhanced the effectiveness of electromagnetic surveys, enabling the identification of these promising targets.
Lucapa intends to conduct ground-based geophysical surveys to refine these findings and guide further exploration efforts.
This discovery underscores the Merlin project’s potential not only for diamond exploration but also as a significant base metal resource, positioning Lucapa for future growth in the region.
