Great Western Exploration identifies potential for VHMS system at Oval copper-gold target
Great Western Exploration (ASX: GTE) has identified promising upside, including the potential for a volcanogenic massive sulphide (VHMS) ore deposit, at its Oval copper-gold target in Western Australia.
Results from a down-hole electromagnetic survey (DHEM) and assays from the first phase of diamond drilling have defined two large conductors at the project.
Pathfinder assay results have also identified multiple prospective horizons interpreted to be close to a potential major mineralisation system.
Strong neighbourhood
Oval is located within the company’s Yerrida North project, on the northern and western portions of the Yerrida Basin.
The target is approximately 800 kilometres north-east of Perth and adjacent to the DeGrussa and Monty copper-gold VHMS deposits.
The company has received advice from geophysical consultants that both interpreted conductors’ geophysical signatures have high prospectivity for massive sulphide accumulation.
Proposed VHMS model
Great Western also engaged prominent industry geochemist Dr Carl Brauhart to assist with the interpretation of the drill assay results.
Based Dr Brauhart’s assessment, which supports the company’s proposed VHMS model, Great Western has interpreted the modelled DHEM survey plates as representing a highly prospective target similar in style to the DeGrussa copper-gold deposit in the adjacent Bryah Basin.
The company also understands that the first two holes intersected multiple horizons of potential VHMS mineralisation, with the defined conductors believed to represent the main mineralisation zone of one of these potential VHMS formations.
Drilling program planned
Great Western is planning to commence drilling immediately after access to the site has been re-established following recent cyclone activity.
The company is also preparing to begin drilling at Oval South, the Sumo niobium target and the Juggernaut copper-gold prospect as soon as possible after completing the second phase of drilling at Oval.
Great Western is well-funded for these activities with a cash position of $4.7 million as at the end of 2024.