Great Western to drill potential ‘company-making’ targets at Fairbairn

Great Western Exploration (ASX:GTE) is gearing up to drill the first of several potentially ‘company-making’ targets at its Fairbairn Copper Project in Western Australia. 

Drilling, which will consist of diamond holes ranging from 250m to 350m in depth, is expected to start between late-April and early-May 2024. 

Follow-up drillholes have also been designed and will be undertaken based on the findings from phase one drilling. 

As previously reported, Great Western, which has a market capitalisation of $21.22 million, has enlisted drilling contractor DDH1 to execute phase one drilling. 

A government program of work was approved in the March quarter and heritage clearance surveys have been completed. 

The company is still waiting to receive a native vegetation clearing permit from the Department of Mines, Industry Regulation and Safety, which is anticipated to be granted shortly. 

Once drilling at Fairbairn is complete, Great Western will move to drill the Oval and Oval South targets, which form part of the Yerrida North Project in Western Australia. 

Both of these targets are interpreted to represent Winu-style intrusive-related copper-gold mineralisation targets. 

The company is now in the process of negotiating access agreements for drilling of Oval and Oval South, and will provide updates in due course. 

Great Western is also progressing several other fieldwork programs across its assets, including water bore drilling and sampling at the Lake Way Potash Project. 

Water bore drilling will test modelled paleochannel depth and sample the brine for potash. This is scheduled to be completed during the June quarter. 

Previously completed testwork suggests that the potash brine within the basal sands of the paleochannel remains ‘high-grade’ as it enters its project area. The company believes that the magnitude of the paleochannel presents an opportunity to unlock the project’s potential. 

Other activities to be completed includes data compiling and interpreting of the Yerrida North Project, which will include geological mapping, surface sampling, and geophysics.

At the Yandal West Project, the company also plans to conduct geological mapping and modelling of the gold mineralised Barwidgee Fault. 

Great Western also announces it is constantly ranking and prioritising its portfolio of assets. Target ranking and prioritisation was completed during the December 2023 quarter and multiple non-core tenements were identified. 

Further relinquishment of non-prospective tenure was completed during the March quarter, with several complete or partial surrenders of tenements within the Yerrida South Project. 

Great Western says this tenure rationalisation allows the company to focus on core assets, such as Oval and Oval South and Fairbairn.

Further, Great Western has also increased its cash and cash equivalents to $2.331 million for the quarter end 31 March 2024, in comparison to the December quarter of $1.817 million.

In January 2024, the company completed the second tranche of a $3 million capital raising, which was conducted to fund exploration work. 

Great Western Exploration is a copper, gold, and nickel explorer focused on its large land position in prolific mining regions of Western Australia. 

Write to Aaliyah Rogan at Mining.com.au   

Images: Great Western Exploration
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.