Nautilus Minerals Inc. - SMS Deposits

Exploration

SMS History 2007 Programs 2008 Programs 2009 Programs 2010 Programs 2011 Programs 2012 Programs Clarion-Clipperton Zone Tenements SMS Deposits

Recent Updates

07-May-13 - Nautilus Minerals Announces Financial Results for Q1 2013 (more...)
15-Apr-13 - Nautilus files final Prospectus for fully backstopped C$40M Rights Offering (more...)
04-Apr-13 - Nautilus Minerals Conference Call (more...)

WHAT ARE SMS DEPOSITS?

Seafloor Massive Sulphide ("SMS") deposits form on the ocean floor and contain appreciable concentrations of copper, zinc, gold, silver and other trace metals. They are the modern-day equivalents of ancient 'land-based' Volcanogenic Massive Sulphide ("VMS") deposits such as Kidd Creek in Canada. VMS deposits are a major source of the world's copper, zinc, lead, gold and silver

HOW DO SMS DEPOSITS FORM?

SMS deposits form on the seafloor in water depths of up to ~4000 m. They form in areas where new ocean crust is forming, such as seafloor spreading centres. Seawater is drawn down through fractures in the oceanic crust, towards a hot buried magma chamber at depth (molten rock body). The heated seawater transforms into a hot acidic hydrothermal fluid and convection causes the fluid to rise up again towards the seafloor.

The hot acidic hydrothermal fluid leaches metals from the surrounding rocks during transport, and may also interact with other hot fluids rising from the magma chamber. When these hot acidic fluids carrying dissolved metals and sulphur reach the seafloor (up to 400°C), they encounter cold ambient seawater (typically 2°C at 1500 m water depth). The sudden change in conditions causes metals and sulphur to precipitate out of solution as metal-rich sulphide, forming an accumulation of sulphide material on the seafloor. SMS deposits commonly carry high concentrations of copper (chalcopyrite) and zinc (sphalerite) in addition to gold and silver.

WHERE ARE SMS DEPOSITS FOUND?

SMS deposits are found along mid-ocean spreading ridges (such as the Mid-Atlantic Ridge and East Pacific Rise), back-arc basins (such as the Manus Basin in PNG waters) and submarine arc volcanic chains (such as Kermadec Arc in New Zealand waters). The focus for Nautilus Minerals is to capture SMS opportunities in the SW Pacific where considerable seafloor data is already available. Click here to see SMS locations around the globe.

THE SMS DEPOSITS OF SOLWARA 1

The SMS deposits at Solwara 1 are associated with high grade polymetallic sulphide systems, which are particularly rich in copper and gold. The viability of the Project is underpinned by the high grades of Solwara 1. Indicated resources are 870,000 t of ore containing 6.8% copper and 4.8 g/t gold. Inferred resources are 1,300,000 t of ore containing 7.5% copper and 7.2 g/t gold. The Project comprises two phases and it is proposed to develop Phase 1 in advance of Phase 2.

EXPLORATION

Exploration of these zones has presented a challenge to scientists for decades and much still remains to be discovered. However, increased technological advancements are allowing scientists to learn more about the life that exists in this environment. Life in the deep sea must withstand total darkness, extreme cold and great pressure. To learn more about deep-sea marine life, we use sophisticated data collection devices to collect observational, geological and biological samples from the deep.

Remote Operated Vehicles ("ROVs") have been used underwater since the 1950s. ROVs are basically unmanned submarine robots with umbilical cables used to transmit data between the vehicle and researcher for remote operation in areas where diving is constrained by physical hazards. Our ROVs are fitted with video and still cameras as well as mechanical tools for specimen retrieval and measurement. Much of what we learn about the deep sea environment comes as a result of ROV data.