(ASX: VSR) Voltaic Strategic Resources

Paddys Well Project

The Paddys Well project comprises one (1) exploration licence (E 09/2414) and five (5) exploration licence applications (E 09/2663, E 09/2669, E 09/2744, E 09/2773, E 09/2774) covering an area of 1,300 km2 and are located approximately 200 km east of the town of Carnarvon in Western Australia, and approximately 100 km north-east of the Hastings Yangibana REE project. The tenements are situated in the Gascoyne region of Western Australia, 800 km north of Perth.

The project area encompasses a portion of the Gascoyne Province of the Capricorn Orogen, between the Archaean Yilgarn Craton to the south, and the Archaean Pilbara Craton to the north. The Gascoyne Province, which consists of a suite of Archaean to Proterozoic gneisses, granitic and metasedimentary rocks, is overlain by the Paleoproterozoic Ashburton Formation to the north, the Mesoproterozoic Edmund and Collier Basins to the east, and the Phanerozoic Carnarvon Basin to the west. REE discoveries in the Gascoyne Province are commonly located close to major crustal boundary faults and contained within iron-rich carbonatite dykes and intrusions.

The project area is considered highly prospective for REE mineralisation hosted in iron-rich carbonatite dykes or intrusions. Historical exploration has identified highly anomalous REE mineralisation from drilling within E 09/2414, and there are also several coincident magnetic & radiometric anomalies that deserve evaluation.