Advanced Exploration

Discovery opportunities extend across all of Transition’s tenements

In addition to well over 200 priority prospects associated with Transition’s unfolding new Duck Creek and Highway deposits, its new R&D guided exploration methodologies are successfully being applied across all of its Cloncurry tenements.

From this work, select prospects are being systematically advanced to drill ready status.

These include high-grade surface discoveries by Transition of critical metals including copper, rare earth elements (REEs), cobalt and hafnium. They also include historical prospects where re-interpreted results from legacy drilling points to immediate discovery opportunities including high-grade graphite and large-scale vanadium.

Lame Beast (Cu-Au)

The Lame Beast prospect is located approximately 35k south east of Cloncurry. Copper mineralisation is hosted in a sequence of stacked quartz veins and gossanous outcrops trending northeast to southwest within the Toole Creek Volcanics. The target zone sits on the fold axis of an anticline that parallels the regionally prospective contact between the Toole Creek Volcanics and Mount Norna Quartzite.

Transition’s tenements, active projects and location of the Lame Beast prospect.

Historical workings align with elevated copper obtained from different sampling methods including soil and termite mound sampling, shallow RAB drilling, and rock chip sampling. These combine to delineate a continuous zone of highly elevated surface copper over 2 km of strike and up to 300m wide, which remains open along strike in each direction.

Surface geochemistry at Lame Beast compares very favourably with the profiles observed above Transition’s Duck Creek copper discoveries, except it is approximately twice the strike length and triple the width of anything Transition has identified to date at Duck Creek.

The Lame Beast area presents a tough field environment, being characterised by thick scrub and unforgiving spinifex, which may explain why previous explorers did not invest much time into the prospect area.

These include BHP who was sufficiently interested to complete a series of 50m spaced shallow RAB drilling lines (~1-2m deep) as an easier way to replicate soil sampling in the difficult conditions. It appears Kingsgate Consolidated (who identified the area as a gold prospect) also succumbed to the difficulties, delaying planned soil sampling grids due to pending “monsoon rains” but it appears never went back.

Quotes from the Kingsgate 1994 Exploration Report about the Lame Beast area provide clues:

• “The area is characterised by high and dense spinifex, making prospecting and mapping painful.”
• “Detailed stream sediment sampling has returned a large number of samples anomalous in copper and in many cases with extreme anomalism in gold.”
• “In general, the metamorphic grade here is higher than in most prospects in this district.”

Combined pXRF and assay programmes at the Lame Beast prospect including soil, termite mound, regolith & rock chip sampling.

Lawlor (REE-Cu-Au)

The Lawlor prospect is located approximately 25 km west of Cloncurry, immediately north (within 350 metres) of the Barkly Highway and is one of hundreds of prospects identified by Transition’s R&D programmes for priority assessment.

Transition’s tenements, active projects and location of Lawlor prospect.

Lawlor is located within prospective geological units that also host the nearby Milo REE deposit ~5 km to its south-west. Milo was acquired from Australia’s GBM Resources (ASX: GBZ), by Canadian group Consolidated Uranium Inc (TSXV: CUR) in 2022. Geoscience Australia report total mineral resources for Milo of 176Mt @ 610 ppm TREOY. The deposit is hosted in a highly altered and structurally disrupted meta-sedimentary package with calc-silicate rocks containing the bulk of mineralisation.

Rocks identified at Lawlor with elevated REE & yttrium include a gossan of undetermined origin occurring in units mapped as Milo beds across the prospect area. A calc-silicate with iron oxide intrusions was also noted to contain elevated yttrium. The most significant feature of the pXRF data is elevated Cr, Ni, K, Mg together with Nb, and both light REEs (La, Ce, Nd, Pr) and heavy REEs (using Y as a proxy), which appears lamprophyric, and may indicate an underlying alkaline intrusion.

Records indicate that Lawlor, which includes historical copper workings, has been sporadically explored since 1960, including limited sampling and scout-drilling that appears to have focused only on copper and base metals. This data is unsuitable for Transition’s geochemical vectoring analysis and the current field programmes are designed to address this.

First-pass reconnaissance by Transition included grid-sampling at 25m x 25m spacings, of soil, termite mounds and outcrop over more than 1,500 metres of strike, using field pXRF units to identify a suite of indicator and proxy metals. Samples with important elevated readings were collected and sent for detailed laboratory analysis.

First assays received from Lawlor

Priceless (Graphite-Au)

Priceless is located approximately 23 km west of Cloncurry where the prior focus of this prospect was copper and gold. Historical drilling indicates low grade copper over zones of 10-20m down-hole width, and sporadic gold in drill intervals up to 3 g/t Au. Drilling by third parties in 2016 appears to have closed out the copper-gold potential of the prospect but it appears this programme failed to recognise the potential significance of an associated graphitic schist.

Transition’s tenements, active projects and location of the Priceless Graphite prospect.

Recent mapping and field reconnaissance by Transition indicates a large, cohesive graphitic schist unit, corresponding with a large conductive geophysical anomaly. Graphite is highly conductive.

Historical drilling at the Priceless prospect appears to have skirted the northern edge of the conductive anomaly, the most southerly of which (RC drill hole PRC11) intersected 44m @ 12.3% total graphitic carbon (TGC) from 8m to the end of the hole. The hole ended in 17.4% TGC.

Mapped surface geology by Transition indicates large areas of graphitic schist.

Versatile Time-Domain Electromagnetics (VTEM) survey at the Priceless Graphite prospect.

Toolebuc (REE)

Toolebuc is located ~40 km east-southeast of Cloncurry and was initially discovered through a 50:50 joint venture between Paradigm Metals Ltd and ASX listed Exco Resources Ltd. In late 2010 the joint venture completed shallow reconnaissance drilling which intersected REE mineralisation in carbonate-rich intrusive rocks beneath 35m of younger sedimentary cover.

Transition’s tenements, active projects and location of the Toolebuc REE prospect.

In 2020 Transition commissioned magnetic intensity (TMI) 3D inversion modelling at Toolebuc using publicly available magnetic data sets, and in 2022 completed a larger Sub-Audio Magnetics survey that included parts of Toolebuc. Transition subsequently completed 1,812 metres of RC & DD drilling at Toolebuc, intersecting a continuous zone of elevated REE over the 200m of strike tested. 

The Toolebuc mineral system is distinctive because it contains a high proportion of the high value magnet REEs viz, NdPr 26.7% and DyTb 4.3%. Significantly elevated drill intervals include: 

• TBDD0008 – 2m from 51m averaging 5,719 ppm TREYO and 699ppm HREYO. 
• TBRC0011 – 4m from 34m averaging 4,233 ppm TREYO and 382 ppm HREYO. 
• TBDD0004 – 5m from 42m averaging 2,486 ppm TREYO and 239ppm HREYO. 
• TBDD0005 – 5m from 42m averaging 2,486 ppm TREYO and 279 ppm HREYO. 
• TBDD0006 – 6m from 35m averaging 2,286 ppm TREYO and 231 ppm HREYO. 
• TBDD0007 – 6m from 42m averaging 2,074 ppm TREYO and 239 ppm HREYO. 
• The REE rich units at Toolebuc exhibit both LREE and HREE abundances of >100x chondrites, due to the presence of both monazite and xenotime. 
• The most noticeable feature of the REE rich units is that they exhibit negative Ce/Ce* anomalies (0.24±0.15), compared to the overlying and underlying wall rocks, viz, 0.94±0.06 and 0.94±0.12 respectively. 
• The presence of negative Ce/Ce* anomalies indicates that the REE ore was deposited from an oxidizing hydrothermal fluid. 
• Because the lithological units adjacent to the zone of mineralisation lack a negative Ce/Ce* anomaly, the plumbing system along which the REEs were introduced must have been very focussed. 
• The essentially chondritic Zr/Hf and Nb/Ta ratios at Toolebuc are typical of values reported from REE rich plume generated alkaline igneous systems. For example, the mean Nb/Ta ratio ~15 is plume like NOT upper crustal (~10). 
• Further, additional support for an alkaline progenitor for the REEs at Toolebuc is provided by the molar Cu/Au ratio of the Toolebuc REE ore, which yield a mean value of 35,600 and is typical of alkaline systems, such as alkaline hosted porphyry Cu-Au deposits. 

Major target of interest

Drilling completed at Toolebuc to date is located immediately west of a very large geophysical anomaly and major target of interest for Transition. 

Elevated zinc has also been intersected in drilling at Toolebuc including: 36m @ 0.2% Zn from 34m and 17m @ 0.26% Zn from 41m. 

Transitions 2022 Sub-audio Magnetics (SAM) survey identified a large geophysics anomaly immediately east of Toolebuc. Images (clockwise) from bottom left include Total Field Electromagnetics (TFEM), which replicates Induced Polarisation (chargeability), Total Magnetic Intensity (TMI), and Magnetometric Conductivity (MMC).

Nuggetty Gully (Au-Cu-REE)

The Nuggetty Gully group of prospects includes Mt Dawson, Mt Fate, Glory Hole, Golden Chance, A1 Camp, and numerous unknown workings and shafts located approximately 30 km south-east of Cloncurry.

Transition’s tenements, active projects and location of the Nuggetty Gully prospect.

The area has experienced historical phases of artisanal mining from as early as 1890, including alluvial (Au) and hard-rock (Cu, Au) mining. Small surface nuggets are known to have been detected from the area and free gold can be easily won panning the creeks and tributaries. Fine specs of gold can even be panned from termite mounds across wide areas.

Historical records indicate numerous small scale gold producers within the Nuggetty Gully area shipping ore at grades over 1 ounce per tonne. These include from Mt Dawson (70 tonnes @ 5.7% Cu, 36 g/t Au) and Mt Faith (70 tonnes @ 12-18% Cu, 35.8 g/t Au). Unknown quantities of alluvial gold has also been won from several gulleys in the area.

The source of the gold has never been found despite companies like BHP spending close to 15 years sporadically exploring the area. Historical soil sampling grids and rock chips include up to 55.8 g/t Au and Transition’s own efforts include similar activity with multiple results over 20 g/t Au.

Approximately 5 km immediately along strike to the south of Nuggetty Gully, and within the same geological sequence, is the Mt Freda group of deposits (1.71Mt @ 2.06 g/t Au), which includes Shamrock (87kt @ 3.11 g/t Au), Falcon (132kt @ 2.76 g/t Au), Comstock (75kt @ 1.72 g/t Au), Little Duke (377kt @ 1.12 g/t Au), and Mt Freda (1.04Mt @ 2.25 g/t Au).

Sub-Audio Magnetics (SAM) geophysics surveys have been completed by Transition and multiple, high-value, drill-ready targets have been identified.

Preferred targets are cross-cutting conductive structures (same as Mt Freda orebody), adjacent to the Toole Creek Volcanics and Mt Norna Quartzite (TCV-MNQ) contact.

• Left image (below): the area within the bounded dotted lines (contact between the Toole Creek Volcanics and Mt Norna Quartzite), is host to numerous gold deposits, including Mt Freda ~5k along strike to the south of Transitions EPMs.
• Middle image (below): The SAM magnetometric conductivity survey (MMC) has identified many preferred cross-cutting targets within the prospective corridor.
• Right image (below): Magnetometric conductivity survey without structures shown, indicates many settings similar to Mt Freda.

Mt Carter (Cu-REE-Au-Hf)

The Mt Carter Prospect is located west of Transition’s Duck Creek Copper Project discoveries, over 7 kilometres (km) from the nearest significant historical workings, and approximately 1.8 km from the nearest recorded prospect of any kind, which is only a very small surface copper working.

Transition’s tenements, active projects and location of the Mt Carter prospect.

The Mt Carter prospect includes a prominent ridge with multiple zones of quartz, quart breccia, altered sandstones and porphyritic gabbro.

First-pass sampling includes results up to:
Cu=24.6%, Hafnium HfO2=1,856 ppm, Au=0.74 g/t, Nd2O3+Pr6O11 =709 ppm, Dy2O3+Tb4O7 =132 ppm, Co=2,473 ppm, Y2O3 =760 ppm.

Arrolla (V₂O₅)

The Arrolla vanadium prospect is located approximately 48 km east of Cloncurry, in Transition’s East Cloncurry tenements. Arrolla is analogous to similarly large, shallow vanadium/molybdenum deposits currently being developed in Julia Creek, ~90 km east of Arrolla.

Transition’s tenements, active projects and location of the Yanasinga prospect.

The Arrolla prospect includes significant historical drilling and assay data (99 drill holes), and drilling that was logged to define the top of the limestone layer but not assayed (1,200 drill holes).

Key points:

• Shallow deposits, offering predominately free dig mining options.
• 42 km² of prospective Toolebuc Formation (indicating possible scale beyond existing drilling).
• Consistently mineralised from historical drilling.
• Target grades and tonnage analogous to nearby developing mines at Julia Creek.
• Strong Queensland Government support for new Vanadium Industry.

Target resources based on historical drilling:

Results from historical drilling indicate an extensive vanadium & molybdenum system, based on cross-sections (top left), drilling with assays and geologically logging (right).