Drill Rig Mobilised to Giant Oval Copper-Gold Target in WA
Perth, Oct 15, 2024 AEST (ABN Newswire) - Great Western Exploration Limited (
ASX:GTE) is pleased to announce mobilisation of a drill rig to the giant Oval Copper-Gold Target in WA, with drilling expected to start shortly.
The targets' strong geophysical attributes highlight the potential for a very large discovery Key Points
- A drill rig has mobilised to the giant Oval Copper-Gold Target near Meekatharra in WA
- The drilling programme comprises four diamond drill-holes with depths ranging from 600m to 800m
- The Oval Target was originally defined by a Rio Tinto EM Survey in the late-1990s; that has 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 coppergold mineralisation formation
- Modern modelling of a VTEM survey completed in 2012 found drilling completed at the Oval copper-gold target by Rio Tinto failed to intersect the EM conductor, with the Rio Tinto hole terminated 70m above the conductor
- Drilling will target the multiple and coincident geophysical and geological attributes of the Oval copper-gold target. Each drill-hole is anticipated to take approximately three weeks to complete, with assay results expected 6-8 weeks after drill-hole completion
- Great Western interprets the geological and geophysical attributes of Oval represent Winu and Haverion-style intrusive-related copper-gold mineralisation and highlight the potential for a very large copper-gold discovery
The Oval Copper-Gold Target is 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*.
Drilling contractor Blue Spec Drilling has now mobilised a drill rig to Oval from Kalgoorlie.
The drilling programme comprises four diamond drill-holes ranging from 600 to 800 metres deep. Oval and Oval South share multiple coincident geological and geophysical features to the giant Winu and Haverion intrusive-related copper-gold deposit. 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 for metal-rich sulphide mineralisation.
The drilling programme will be completed in two stages, with stage one being two holes to be drilled at the Oval Target, with the geological model refined to guide the remainder of the drilling programme. Each hole is anticipated to take approximately three weeks to complete, with assay results expected to be returned 6 to 8 weeks after drillhole completion.
Drilling is anticipated to commence soon after mobilisation is complete.
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 large 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.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/9EWT187H
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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