Perth, Sep 30, 2024 AEST (ABN Newswire) - Great Western Exploration Limited (
ASX:GTE) is pleased to announce preparations have been completed for drilling of the giant Oval Copper-Gold Targets in WA, with the programme to commence in approximately two weeks once access has been reestablished after heavy rainfall.
- Tracks and drill pads have been completed, and experienced drilling contractor Blue Spec Drilling have been engaged to complete the programme.
- Heavy rainfall has been recorded at Paroo Station, the property adjacent to the giant Oval Copper-Gold Targets, and access with heavy vehicles is currently restricted. Subject to no further heavy rainfall, drilling is anticipated to commence in approximately two weeks.
- Oval and Oval South Targets were originally defined by a Rio Tinto EM Survey in the late1990s. They are coincident EM conductivity and gravity highs, located on the intersection of a crustal scale and basin defining fault, and within favourable stratigraphy of the Yerrida Basin for copper-gold mineralisation formation.
- Modern modelling of a VTEM survey completed in 2012 found drilling completed by Rio Tinto failed to intersect the EM conductor, with the Rio hole terminated 70m above the conductor.
- Great Western believes the multiple coincident geological and geophysical attributes of Oval and Oval South represent Winu and Haverion-style intrusive-related copper-gold mineralisation and highlights the potential for very large copper-gold discovery.
The Oval Copper-Gold Targets are within the Company's Yerrida North Project, located on the northern and western portions of the Yerrida Basin, approximately 800km north-east of Perth and adjacent to the DeGrussa and Monty CuAu Volcanic Hosted Massive Sulphide deposits (VHMS), shown in Figure 1*.
Tracks and drill pads have been completed, and experienced drilling contractor Blue Spec Drilling engaged.
The drilling programme comprises four diamond drill-holes with holes ranging between 600 to 800 metres depth.
Oval and Oval South share multiple coincident geological and geophysical features to the giant Winu and Haverion intrusive related copper-gold deposit, and drilling will focus on the co-incident gravity and electromagnetic anomalism at Oval and Oval South (Figure 2 and 3*).
The Company interprets these coincident features as representing potential metal-rich sulphide mineralisation.
The drilling programme will be completed in two stages, with two holes to be drilled at the Oval Target, then a short break in drilling to be taken to allow a down-hole electromagnetic (EM) survey to be completed. The EM and drillhole logging data will be assessed and the geological model refined, to guide the remainder of the drilling programme.
Heavy rainfall has been recorded at Paroo Station, the property adjacent to the giant Oval Copper-Gold Targets, and access by heavy vehicles restricted. Subject to no further heavy rainfall, drilling is anticipated to commence in approximately two weeks.
Oval & Oval South's Impressive Co-Incident Key Ingredients
Discovery of giant deposits often involve the identification of at least three key ingredients that may define a potential major mineralisation system. Multiple significant key ingredients have been identified at Oval and Oval South, which greatly enhances the discovery of a giant Winu Style intrusive related copper-gold system, which include:
- Co-incident gravity and EM anomalies - zones of dense rocks that are conductive interpreted to represent obscured metal rich sulphide mineralisation;
- Magnetic anomalism at depth below the conductive high, potentially representing a deep intrusive providing mineralised fluids and heat to drive a mineralised system, possibly similar to the magnetic granite found at Winu;
- Proximity to the crustal scale Ida Fault, a crustal scale feature stretching greater than 500km long, with proven fertility conduit for metal rich mantle fluids. The Mt Keith and Perseverance Deposits (nickel), DeGrussa (Copper) and Davyhurst (gold) are some of the deposits found along its length;
- Intersection of the Ida Fault by a basin defining "growth structure", allow mineralised fluids to ascend and focus within suitable trap site/stratigraphy;
- Favourable Yerrida Basin stratigraphy of the Johnson Cairn Formation for mineralised fluids to deposit copper-gold (shales, dolomites, siltstones), similar to the sedimentary rocks found at Winu; and
- Position of both Oval and Oval South within an east-west intrusive corridor, a potential zone of weakened crust which in conjunction with the Ida Fault and GSWA growth Fault makes an ideal trap site for metal accumulation.
Great Western interprets that Oval and Oval South's coincident geophysics anomalism, location on a major crustal mantle tapping fault intersected with a basin defining growth fault, and within favourable stratigraphy creates the potential for a colossal discovery to be made.
The Company received approval for Co-Funding by the Western Australian Government under the Exploration Incentive Scheme (ASX Announcement 2 May 2024). The Company believes the government co-funding represents significant endorsement of the prospectivity of the Oval and Oval South Targets.
A video further detailing the significant potential and technical attributes of Oval and Oval South can be found here:
https://www.abnnewswire.net/lnk/076JQ402
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/G10179UW
About Great Western Exploration Limited
Great Western Exploration (ASX:GTE) is an explorer with a world class, large land position in prolific regions of Western Australia. Great Western's tenements have been under or virtually unexplored. Numerous work programmes across multiple projects are underway and the Company is well-funded with a tight capital structure, providing leverage to exploration success.
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