Caeneus Minerals Ltd (ASX: CAD) is an Australian-based mineral exploration and development company established for the purpose of acquiring a portfolio of highly prospective exploration projects or near term development projects in Australia.
Caeneus Minerals Ltd is targeting nickel sulphide deposits in Western Australia. The Company currently has one exploration project targeting nickel.
The SuperNova Project is situated within the Proterozoic Albany-Fraser Mobile Belt on the south-east margin of the Yilgarn Craton. The Belt hosts the Fraser Complex which is a series of layered mafic intrusions where recently a new nickel province has emerged following the discovery of the Nova-Bollinger deposits by Sirius Resources Ltd, just 23kms NNE of Supernova.
Other exploration projects owned by the Company include the Mt Davis tenements. Mt Davis comprises eight contiguous prospecting licences totalling 1287ha, formerly held by Jupiter Mines Ltd and then Bligh Resources Ltd.
The Leonora area has a long and rich gold mining history and the geology for the Mt Davis tenements has gold mineralisation associated with pyritic quartz veins in sheared mafic volcanics. The tenements are situated approximately 6km southeast of the Tarmoola Gold Mine that has produced over 3M oz of gold.
The leases run parallel to the northwest to southeast trending mafic units that host the Tarmoola Deposit. P37/7803 surrounds (but does not include) the historic Grattan Well mining centre.
The western sector of the Mt Davis area is underlain by a north-northwest trending sequence of metamorphosed high magnesium basalts, dolerite-gabbro intrusives and ultramafic lenses, which occupy areas of low relief often covered by superficial alluvium and soil. Over the eastern sector of the property, high relief strike ridges formed of steep easterly dipping banded chert and jaspilite are enclosed by less resistant strongly foliated volcaniclastic metasediments, inter-layered by felsic volcanics and minor mafic and ultramafic flows.
The regionally significant Mt George fault structure is interpreted to run through the property in a north-northwest direction and to mark the contact zone between mafic and ultramafic volcanic and intrusive rocks to the west and metasediments, banded chert horizons and felsic volcanic sequences to the east. This major shear zone manifests itself as a series of parallel shears; the southwest shear running through the small Grattan Well open-cut is called the Grattan Well shear, the central is referred to as the Clifford shear, while the easterly is known as the Mt George fault structure and is associated with gold mineralisation at Mt Davis.