Waterloo is located in a sequence of felsic to mafic-ultramafic volcanic rock and sediments. The stratigraphy wraps around the southern end of a granite dome in a shallow to moderately dipping southwest to south plunge direction roughly parallel to the host channels and nickel mineralisation. The ultramafic host rocks consist of generally thin (<200m thick) komatiitic lavas with cumulate flows, in a similar geological setting to the Kambalda Nickel district.
There is potential to add incrementally to the Waterloo resource by testing immediately to the north of the mine where drilling is sparse and where low grade intercepts have been identified. There is also potential for the massive sulphide ore shoot to continue down plunge. Additional drilling with associated DHEM techniques would be used to effectively test these areas.
A review of all previous exploration activities and data is currently being undertaken to explore the near mine and regional opportunities within the Waterloo area. A number of previously identified targets have not been tested and will be the initial focus of the review.