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The data on Australian is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.


Independence was incorporated in May 2000 for the purpose of discovering world-class ore bodies in Australia, focusing on gold and nickel. Our philosophy is to favour ore bodies amenable to rapid evaluation and project turnover. Through exploration success and corporate growth, the Company aims to have a number of Australian metal mines producing a significant profit to enable dividends to be sustainable.

Tropicana Joint Venture

The Tropicana JV comprises approximately 12,260 km2 of largely unexplored tenure over a strike length of 350km along the Yilgarn Craton - Fraser Range Mobile Belt Collision Zone. The project was initially targeted and pegged by IGO in 2001. AngloGold Ashanti was brought in to fund and manage exploration due to the resources required to effectively explore this very large and remote tenement package. The JV has a dominant ground position in what is shaping up to be a new Australian Gold Province. A JORC compliant resource of over 5 million ounces of gold has been released and a Bankable Feasibility Study on open pit mining of the initial resource is currently in progress.

Karlawinda (IGO 100%)

The Karlawinda Project is located on the southern margin of the Archaean Sylvania Inlier, some 65km south-east of Newman, close to the Great Northern Highway and gas pipeline infrastructure. The discovery prospect, Francopan, comprises a gold mineralised system extending over a strike length of 1.1km and 0.5km down dip beneath approximately 190m of Bangemall Basin cover sediments. Previously announced intercepts include 7m @ 4.6 g/t Au, 6m @ 4.5 g/t Au and 15m @ 3.0 g/t Au. Based on the extent and style of mineralisation this project is considered to have good potential for the delineation of a significant Archaean mesothermal lode gold system. The current focus of exploration is on the Bibra Prospect, located approximately 5km north-east of Francopan, and other regional targets north of Francopan, where Archaean bedrock is not obscured by thick Bangemall cover.

Bibra Prospect

Previous work by IGO at Bibra has defined a large gold mineralised zone extending over 1km both along strike and down dip (Figures 10 and 11). Mineralisation strikes NNE and is developed in a series of shallowly WNW plunging rod-like shoots within a more continuous lower grade halo. Supergene gold is generally well developed above the up-dip oxidised portion of the main mineralised zone. During the quarter exploration focused on scoping the oxide potential at Bibra. Metallurgical test work commenced, including bottle rolls, agglomeration and column leaching on samples from two dedicated PQ core holes drilled last quarter and agitated batch leaching on RC chips. Final results from this work are expected in February 2011.

A total of 45 RC holes for 4,034m were completed primarily to:

* infill the main oxide zone to 100m x 50m RC drill spacing
* test several magnetic features proximal to the oxide mineralisation including the two interpreted “high-grade” shoots plunging to the west

Infill drilling returned a number of significant intercepts including:

* 7m @ 2.4 g/t Au from 8m in KBRC109
* 5m @ 3.5 g/t Au from 8m in KBRC110
* 5m @ 2.4 g/t Au from 7m in KBRC111
* 19m @ 1.4 g/t Au from 45m in KBRC113
* 26m @ 1.3 g/t Au from 9m in KBRC122

The results are consistent with previous modelling indicating the southern portion of the oxide zone is dominated by broader laterite hosted supergene mineralisation with a more complex geometry evident in the oxidised primary mineralisation. A 3D wireframe is currently being modelled as the first step toward producing an oxide resource estimate. Drill testing of the two interpreted higher grade shoots returned positive results. KBRC092 targeting the northern shoot intersected two zones of mineralisation – 9m @ 1.0 g/t Au from 57m and 32m @ 2.2 g/t Au from 73m including 9m @ 3.8g/t Au. KBRC093 testing the southern shoot returned 29m @ 1.9 g/t Au from 98m, including 5m @ 8.6 g/t Au. The results are significant as the shoots comprise transitional to primary material immediately down dip of the oxide zone. Preliminary leach test work on primary to transitional material has returned very good recoveries suggesting that material could potentially be used to supplement an oxide heap leach operation.

De Beers Database (IGO 100%)

In 2009 IGO acquired the non-diamond specific exploration database of De Beers Australia Exploration Limited (“DBAE”). This database represents the culmination of more than 30 years of exploration and the key assets of the database are the 292,000 surface geochemical samples and associated analytical results covering many mineral prospective regions throughout Australia. As DBAE was solely focused on diamond exploration, less than half of the samples were appraised for commodities other than diamonds. The initial focus is on analysis of samples covering under-explored Proterozoic basin margins in Western Australia and Northern Territory, prospective for polymetallic base metals and gold mineralisation. A total of 30,306 samples have been submitted for geochemical analysis with 29,732 results having been received to date. This work continues to generate a number of anomalies in gold, base metals and other commodities. Systematic prioritisation and field appraisal of these anomalies is progressing.

Holleton (IGO 90-100%)

The Holleton Project covers an area of 1,257 km2 over the largely concealed and unexplored Holleton greenstone belt in the Southern Cross Province of the Archaean Yilgarn Craton. IGO is exploring the project area for Yilgarn Star, Marvel Loch and Westonia style gold deposits. The current focus of exploration is on two narrow thinly sand-covered northsouth trending greenstone belts in the northern half of the project area.

The most significant prospect is “Syme’s Find” where surface geochemistry has defined a north-east trending gold anomaly measuring 1.5km long by 0.5km wide (Figures 13 and 14) in a complex structural position on the eastern most greenstone belt. Aircore testing of the anomaly last quarter returned a number of robust oxide intercepts including:

* 10m @ 8.3 g/t Au from 10m (including 4m @ 19.1 g/t Au from 11m)
* 10m @ 5.5 g/t Au from 10m
* 8m @ 5.4 g/t Au from 12m

Deeper RC drill testing of the prospect during the December quarter (15 holes for 1,656m) returned best results of 4m @ 2.9 g/t Au from 84m and 4m @ 4.5 g/t Au from 94m in SFRC002 (2m composite results) as well as numerous other narrow intercepts between 1 and 2 g/t Au throughout the prospect area. Results are currently being interpreted prior to planning the next phase of exploration.

Duketon Nickel Joint Venture (IGO MANAGER EARNING 70% NICKEL RIGHTS)

The Duketon Nickel JV with South Boulder Mines Ltd covers ultramafic-rich stratigraphy prospective for massive and disseminated nickel sulphide mineralisation in the Duketon Greenstone Belt approximately 80km north of the Windarra nickel deposit. IGO is focusing on the Bulge ultramafic, a prominent thickened portion of ultramafic with a strike length of 8km situated along a more extensive ultramafic package located on the western flank of the project tenure. Two prospects have been defined to date:

* the high-grade Rosie Prospect, defined over a strike length of 750m and down dip extent of 400m, which includes intercepts up to 3.3m (true width) @ 9.1% Ni, 1.1% Cu, 0.2% Co and 7.1 g/t PGEs (2.2 g/t Pt, 1.7 g/t Pd, 0.8 g/t Rh, 1.8 g/t Ru) in TBDD098, and
* the C2 Prospect which comprises three zones defined over a strike length of up to 700m and down dip extent of up to 300m which is dominated by disseminated mineralisation and includes past intercepts up to 52m @ 0.9% Ni including 37m @ 1.0% Ni.

Both prospects remain open along strike and down dip.

IGO has completed an initial three hole drilling program testing up and down dip to the north west and along strike from the high grade massive sulphide mineralisation intersected in TBDD098. All three holes intersected nickel sulphide mineralisation. Intercepts included:

* TBDD099: 5.6m (3.3m true width) @ 1.5% Ni, 0.4% Cu and 2.5g/t PGE from 470m
* TBDD099W1: 6m (2.4m true width) @ 1.8% Ni, 0.5% Cu and 1.1g/t PGE from 550m
* TBDD099W2: 4.0m (1.4m true width) @ 1.2% Ni, 0.5% Cu and 3.6g/t PGE from 610m

Mineralisation was predominantly disseminated and breccia style with minor massive sulphide encountered in TBDD099W1. This style of mineralisation is suggestive of remobilised sulphides possibly flanking a mineralised channel position. Down hole TEM using IGO’s proprietary high powered transmitter has been completed on all three holes. Modelled conductors from this work indicate that the strongest mineralisation is between TBDD099W1 and TBDD098 and plunges to the south-east. A four hole program testing up and down dip to the south-east of TBDD098 commenced in January 2011.

Musgrave Minerals IPO

Musgrave Minerals Ltd is on schedule to conduct an initial public offering (‘IPO’) of shares and seek admission to the official list of the Australian Securities Exchange (ASX) and quotation of its shares prior to April 30, 2011. IGO, Mithril Resources Limited, and Goldsearch Limited have created Musgrave Minerals Ltd as a dedicated vehicle to explore the highly prospective and under-explored Musgrave Province in South Australia. During the Quarter under review, Argonaut Resources Ltd and Integra Mining Ltd agreed to vend their respective interests in the South Australian Musgrave Province to become cornerstone investors in the new entity. This follows the decision last quarter by Barrick (PD) Australia Ltd to also vend its Musgrave exploration interests into Musgrave Minerals Ltd. There is now participation by six mining companies as cornerstone investors in the newly formed Musgrave Minerals Ltd.

IGO, Mithril, Goldsearch and Integra have provided seed capital to the new entity and an initial phase of exploration focused on delineating new drill targets and advancing conceptual targets to a drill test decision ahead of the April 2011 IPO has been successfully completed. The recent work included a VTEM airborne geophysical program on portions of EL’s 3942 and 3955. The VTEM survey identified more than 60 priority targets and demonstrated the effectiveness of airborne geophysics in the Musgrave environment. Further VTEM surveys are planned post IPO.

Ground EM surveys completed on seven targets on EL3942 generated from the VTEM survey, confirmed the presence of high conductance basement targets that could represent accumulations of nickel-copper sulphide mineralisation. In addition, ground EM surveys also identified two strong basement conductors over two previously identified targets outside of the VTEM coverage. All nine targets are associated with, or proximal to, outcropping and interpreted Giles Complex rock types which are considered prospective for nickel sulphide mineralisation. The Lyta target is particularly compelling as it is proximal to a gabbro dyke containing blebs of nickel-copper sulphides. These priority targets will be drill tested immediately after the completion of the IPO.

Bungalbin JV (IGO earning 70% Non-Iron Ore Rights)

IGO has entered into a JV with Cauldron Energy Limited whereby IGO may earn a 70% interest in the non-iron ore rights by expenditure of $2m within 5 years. IGO must complete a minimum of 100 line km of TEM before it may withdraw from the JV. Cauldron Energy has transferred its interest in the project to Fe Limited (formerly Buka Gold Limited). The Bungalbin Project is located over the Marda-Diemals greenstone belt approx 108kms NE of Southern Cross IGO considers the Bungalbin Project to have potential for the discovery of massive nickel sulphide deposits, as the project stratigraphy has similarities to the Lake Johnson Greenstone Belt to the south, which is host to the Maggie Hays and Emily Anne deposits. The project contains approximately 20km of strike of favourable cumulate ultramafic unit untested by modern exploration methods and only partly tested for nickel sulphides in the 1970’s.

Jaguar Nickel Sulphide JV (IGO Earning 70% Nickel Rights)

IGO has entered into a JV with Jabiru Metals Limited (JML) whereby IGO may earn a 70% interest in the Jaguar Nickel Sulphide JV. IGO has commenced a substantial Moving loop EM (“MLEM”) survey targeting 3 main areas. To date 336 stations for 31 line km have been completed (22% of the planned program). No significant conductors have been located so to date. The TEM survey is scheduled to recommence in late Q1-early Q2 2011.

Mt Isdell (IGO 100%)

The Mt Isdell Project covers an area of over 400km2 and is located 35km south of the 26M ounce Telfer gold resource and 80km south-east of the Nifty Copper Mine. The project straddles the same major north-west trending structure that is adjacent to both the Nifty and Maroochydore deposits. Previous reconnaissance and infill lag sampling by IGO has delineated a 5km x 5km area of high order zinc, lead, copper, cobalt and gold anomalism. Preliminary aircore drill testing has confirmed geochemical anomalism, however, a more robust test using larger drilling equipment is required to fully test the targets at depth. Last quarter a VTEM survey was flown over a portion of the project area to confirm and better define conductors identified in a 2009 Government funded TEMPEST survey. A number of conductive responses potentially representing mineralisation and/or alteration warrant follow-up. An RC drilling program to test VTEM and geochemical targets is planned for Q2 2011 pending final access approvals.

Orrbäcken JV (IGO Earning up to 73%)

The Orrbäcken Ni-Cu-Co Joint Venture with Mawson Resources is located 10km from the regional centre of Skellefteå in north eastern Sweden. The project was generated by local prospectors who identified approximately 80 gabbroic boulders that form a 1.5km long glacial boulder train, 25 of which contain nickel sulphides and interpreted to be close to source. Four boulder samples were taken by the Swedish Geological Survey from the Orrbäcken discovery. Nickel content ranged from 1.9% to 0.6% and averaged 1.0%, cobalt ranged from 0.21% to 0.05% and averaged 0.1% and copper ranged from 0.7% to 0.1% and averaged 0.3%. The boulder train is associated with a magnetic feature that is of a similar scale to other mafic intrusives containing economic nickel-copper deposits. Last quarter IGO flew a combined heliborne magnetics and TEM survey which identified 13 conductors of interest including three ranked priority 1, six ranked priority 2 and four ranked priority 3 according to TEM response and spatial association with other magnetic features. The most significant target is a broad 1km long TEM response proximal to both the mineralised boulders and a complex magnetic feature possibly representing a prospective mafic-ultramafic intrusive body. Ground TEM follow-up of the three priority one targets and preparatory ground access preparation for drilling commenced in mid-January.

Birrindudu Tin Project (IGO 100%)

The Birrindudu project is located 290km southeast of Kununurra in the Tanami Region of the Northern Territory. The project was initially identified during a review of results from the WMC Diamond division database, being used for target generation by IGO under agreement with WMC, (now BHP Billiton) which highlighted an area of strongly anomalous tin. Analysis of samples in the IGO owned DeBeers database over the area and subsequent reconnaissance and follow-up systematic stream sediment and soil sampling by IGO has confirmed the presence of tin and tungsten spatially associated with the Palaeoproterozoic Winnecke Granophyre. The strongest results are from samples in streams draining an area containing a large aeromagnetic feature possibly representing alteration associated with the roof zone of a shallowly buried granitic pluton. Based on the extent of anomalism and geological setting it is believed that the project has potential to host a substantial tin, tungsten and tantalum ore body. Preparations are being made to undertake an initial drill test of the magnetic feature to confirm that it is the source of tin and tungsten anomalism. Due to access constraints associated with the northern wet season it is anticipated that drill testing will commence in Q2 2011.

Mine For

nickel, copper, cobalt, gold, platinum group elements, iron ore, lead

Location of operation(s)

Western Australia, Northern Territory, Sweden


Suite 1, 183 Great Eastern Highway


+61 8 9479 1777



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The data on Australian is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.