Golden Deeps (ASX:GED) has flagged ‘outstanding’ porphyry copper-gold drilling targets at its wholly owned Havilah Project in New South Wales after an ‘extensive’ induced polarisation (IP) survey.
The $4.5 million market capitalisation company says the ‘strong’, sub-surface IP anomalies were detected on multiple lines during the two-staged IP survey, which comprised about 25km-line of IP surveying across the Hazelbrook prospect target area.
According to Golden Deeps, the anomalies are associated with an interpreted north-south contact zone where detailed gravity imagery from a recent survey indicates that the targeted ordovician volcanics thicken across the granite/porphyry contact zone.
The company says the faulted contact zone is a ‘favourable’ location for the discovery of porphyry copper-gold mineralisation within the volcanics.
It will drill test the ‘outstanding’ new copper-gold targets as soon as necessary approvals are granted.
Golden Deeps also announces ‘strong’ copper-gold soil anomalies with over 1% copper rockchip values could be ‘leakage’ from a sub-surface copper sulphide deposit associated with these ‘strong’ IP anomalies.
Chief Executive Officer (CE0) Jon Dugdale says: “The detection of these strong, sub-surface IP anomalies at the Havilah project is a significant and exciting breakthrough for Golden Deeps.
We look forward to drilling these strong IP anomalies and testing the potential of this highly prospective zone for the discovery of significant porphyry copper-gold deposits.”
The Havilah project sits in the East Lachlan Fold Belt near the township of Mudgee in central New South Wales.
Golden Deeps is an explorer targeting gold in the Lachlan Fold Belt in New South Wales, copper and silver in Namibia, Africa, and is the holder of the Abenab Vanadium-Lead-Zinc Project in Namibia.
As of 30 December 2023, Golden Deeps had $4.673 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Golden Deeps
