The East Kimberley project (Kimberley Copper Project) is composed of two license groups, Menuairs Dome (16,000 Ha) in the north and Campbellmerry (6,000 Ha) in the south. The Kimberley Copper Project is located 115 km west of Kununurra in Western Australia. The target is sediment hosted copper mineralization focused along the crests of regional-scale anticlinal structures developed in Paleoproterozic basin sediments. In 2018 EMX entered into a purchase agreement (the “Agreement”) for the Kimberley Copper Project with Enfield Exploration Corporation (“Enfield”), a reporting issuer in Agreement provides EMX with 500,000 shares of Enfield, and a commitment from Enfield to raise US $1,000,000 for an initial drill test of the project. EMX will also receive a graduated net smelter return (“NSR”) royalty on the project, annual advance royalty payments, and an additional 1,750,000 shares of Enfield upon the achievement of certain milestones. See Company news release dated October 1, 2018 for more information.
The Kimberley Copper Project area was the focus of multiple exploration programs in the 1970s, targeting “Zambian” type, shale hosted copper mineralization. These types of occurrences are widespread throughout the area and were tested by shallow drill campaigns in the past.
Previously overlooked, however, is the potential for sandstone hosted copper mineralization trapped along the crests of the anticlines, where hydrocarbons were present and would have provided strong reductants to focus copper mineralization (analogous to the Dzhezhazgan copper deposits in Kazakhstan).
The area has been deeply weathered, leaving behind only copper showings in less permeable shales. Remnants of both copper sulfides and hydrocarbons are seen in the more voluminous sandstone units, however, suggesting that copper mineralization had also permeated those units prior to weathering and leaching. Thus, substantial copper mineralization may exist at the base of the weathering profile, providing an opportunity for a regional scale copper discovery.
Additional key geologic elements include a large basinal sedimentary sequence and a thick pile of underlying mafic volcanic rocks. These volcanic rocks also show clear evidence of Keweenawan-style copper mineralization where exposed elsewhere in the area, as further evidence of widespread migration of copper-bearing fluids.
To test the concept, relatively simple drill tests will be employed – holes will be drilled in the cores of the anticlines, down to levels beneath the surface oxidation and leaching. Targets include both hypogene copper-silver mineralization and supergene copper deposits.