Great Western prepares to drill major coppergold targets in WA this quarter
June 2024 Quarterly Activities Report
Perth, July 29, 2024 AEST (ABN Newswire) - Great Western Exploration Limited (
ASX:GTE) is pleased to provide its Quarterly Activities Report for the Quarter ended 30 June 2024 (June 2024 Quarter)
The combination of strong geophysical and sampling anomalism and a highly favourable geological setting supports Great Western's belief in the potential for a significant discovery.
Oval and Oval South
Great Western made strong progress during the quarter towards its goal of drilling the highly compelling Oval and Oval South copper targets. As a result, the Company expects to get both targets to drill ready status in the September 2024 Quarter.
As part of these preparations, the Company has secured co-funding for the diamond drilling under the WA Government's Exploration Incentive Scheme (EIS). The EIS approval is a significant endorsement of the prospectivity of Oval and Oval South, and Great Western appreciates the support of the Western Australian Government.
Great Western's belief is that there is potential for a very significant discovery to be made, supported by the coincident geophysics anomalism, their location on a major crustal mantle tapping fault that is intersected by a basin defining growth fault (that focuses mineralised fluids), and favourable stratigraphy of the Yerrida Basin to host mineralisation.
Fairbairn Project
Great Western completed a reconnaissance drilling programme that drill-tested three fixed-loop electromagnetic (FLEM) conductor targets, spaced 2-4 kilometres apart, at the Fairbairn Copper Project in Western Australia.
Deep-sea turbidite sedimentary rocks and mafic and bimodal volcanic rocks similar to the host geology of the DeGrussa Copper VHMS Deposit were intersected, confirming the targeted geological environment.
Drilling of the EM conductors at the modelled depths intersected graphitic shales and disseminated pyrite. The Company interprets these units to be responsible for the FLEM conductor response.
The Company plans to complete a down-hole electromagnetic survey to test for potential off-hole conductors.
Corporate
The Company is pleased to advise that it was successful in its application for participation in the Federal Government's Junior Mineral Exploration Incentive ("JMEI") Scheme. The Company has received an allocation of $1,488,500 in JMEI credits for the 2024/2025 tax year.
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/MR1O903T
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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