The Hay River Project (Hay River) is located 400km east of Alice Springs along the Northern Territory – Queensland border. The Project is considered highly prospective to host Olympic Dam style IOCG mineralisation within the prospective, but highly under explored, East Arunta Block.
Hay River was identified by MRG in 2019 during interpretation of Geoscience Australia’s AusAEM survey results, with a major conductive anomaly occurring. The anomaly measures in excess of 6km north-south, extends to depths >400m, and appears to occur beneath approximately 60m of cover.
Strong coincidence between the conductive feature and large scale magnetic and gravity geophysical responses marks Hay River – and Lorna May, its look-a-like companion – as a standout conceptual IOCG target. The size and inferred geometry of this feature suggest it is an untested exploration target of true Tier 1 potential.
The Hay River Project was acquired by Inca under a joint venture and royalty agreement. Inca may acquire 100% of the project, less NSR to MRG, with MRG free-carried to a decision to mine.
The Project, held under a Northern Territory exploration licence application (EL 32579) and Queensland Exploration Permit for Minerals application (EPM 27747), covers approximately 861km2 and represents MRG-Inca’s third project within the prospective East Arunta region.