Exploration Licence EL 8822 (EV-Battery Metal Project NSW) is located in northern New South Wales (NSW), Australia in the New England Fold Belt. The New England Fold Belt extends northwards from the Sydney Basin through New South Wales and Queensland. The rocks of the New England Fold Belt date from the Cambrian through to the Permian. In the Early Permian and Triassic, volcanic sequences were deposited from a volcanic arc in the east. Intrusions were emplaced into the sedimentary and volcanic sequences.
At EL 8822 , Late Permian (Drake Volcanics) were deposited on the Gordonbrook Serpentinite (altered and sheared Cambrian volcanic rocks). The Drake Volcanics are exposed in a NW-striking structurally controlled belt that wraps around the SE exposed contact of a younger granitic intrusion (Bungulla Ademellite). The Drake Volcanics are silicic and intermediate in composition, dominated by volcaniclastic andesite, intruded by potentially contemporaneous sub-volcanic andesite and rhyolite porphyry (north-east trending magnetic highs within the volcanics). The geological setting suggests long-lived volcanic and sub-volcanic activity. Several copper, zinc, silver and gold prospects have been identified by early mining and past explorers. Mineralisation may be intrusive-related (including porphyry-style), epithermal (high SuIphidation and low SuIphidation) or volcanogenic. The EL has been more extensively explored for gold than base metals and has been neglected by past explorers, that have focused on the Mt Carrington Project to the north-west of the EL which is located within a volcanic centre.
The objective of the Ewingar Project is to undertake exploration to establish the potential for a significant copper-based resource that would support a Cu (Zn-Ag-Au) mining operation.
Stream sediment samples have been taken by earlier explorers across most of the area. Some prospects have been followed up with more detailed mapping and rock chip sampling. Rock chip samples have returned high copper and zinc values in some locations. A sample near Green Snake Prospect returned 2.1% Cu and 8.8% Zn (White Rock Minerals, 2015, EL 6453).
Six shallow diamond core drill holes were completed at the Just-In-Time prospect by Kambalda Minerals NL in 1970. All six holes intersected narrow vein sulphide mineralisation below historic workings indicating a northeast-trending vein complex that dips steeply west (parallel to magnetic anomalies interpreted to be dykes). The drilling data to verify the exact location of the holes, the drill core recovery, sampling and assay methods have been found at a public drill-core library near Sydney. There have been no other drill holes completed in the EL since 1970.
First exploration results from a review of 50 year old drill-cores have confirmed the presence of copper, zinc and silver in the Drake Volcanics. Exploration is at an early stage and the size and depth of any minable orebodys needs to be determined by further exploration results.
SBI will bring cutting edge exploration technology from Germany to the Drake Volcanics to scan 2000 meters deep into the existing geological formations to collect more information on any possibly present orebodies. In case a future mining operation should appear economically feasible, it most likely will be an underground mine into deeply buried porphyry copper formations with comparatively little impact above the ground.
SBI is inviting the local community to monitor our future exploration progress and is asking for support on our efforts to supply battery metals for electrical vehicles and battery storage. SBI is aiming towards an environmentally friendly new mining operation in Northern NSW.
SBI-AG's CEO Hans-Werner Kummerow has told his German exploration team: "We consider ourselves guests in Australia and, in addition to the Exploration License we have received from the NSW Government, we need the acceptance of the local community for our NSW operation."