Great Western Exploration (ASX:GTE) plans to immediately undertake phase-two drilling at the Oval copper-gold target in Western Australia after validating the potential for a volcanic-hosted massive sulphide (VHMS) mineralisation system.
The company received assay results from the first-phase diamond drilling program and a downhole electromagnetic survey which defined two large, strong conductors modelled below each drillhole, with one being 50m below one of the holes.
Each of the modelled conductor’s geophysical signatures are interpreted to have high prospectivity for massive sulphide accumulation.
As such, Great Western, which has a market capitalisation of $16.91 million, is planning to begin drilling immediately after access has been re-established due to the recent Tropical Cyclone Zelia activity.
The company expects drilling of Oval South, Sumo niobium, and the Juggernaut copper-gold targets will begin as soon as possible, following completion of the second phase of drilling at Oval.
Further, Great Western notes that while assay results did not return any significant copper-gold results, the interpretation of pathfinder elements suggest a position close to a copper-gold mineralisation system with a similar signature to the nearby DeGrussa copper-gold deposit.
The Oval copper-gold target sits within the Yerrida North Project which is located on the northern and western portions of the Yerrida Basin in Western Australia.
Great Western Exploration is a copper-gold explorer focused on operating solely in Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Great Western Exploration
