Geological mapping and sampling identified the large copper-gold system known as Leichardt Creek over 6 kilometres, which has undergone very limited exploration.
Promising large-scale system
Great Southern Mining executive chairman John Terpu said: “The company has always held a firm belief in the high prospectivity of the tenure at our Edinburgh Park project and to get early exploration success on multiple targets creates a range of exciting opportunities to deliver value for shareholders.
“This is the first time that a company has systemically explored the outcropping mineralisation at Leichardt Creek and while the prospect is still at an early stage of exploration, it has the hallmarks of a promising large-scale gold-copper-molybdenum-rich porphyry system.”
Tier 1 deposits
The Leichardt Creek prospect is emerging as a large-scale late-carboniferous to early Permian-age mineralised porphyry system.
The carboniferous to early Permian is a major mineralising epoch in north Queensland associated with extensive felsic volcanism and intrusions responsible for the development of numerous tier 1 related deposits.
Extensive mineralised gossanous quartz vein stockworks and disseminations appear to host polymetallic gold, silver, copper, zinc and lead mineralisation.
Previous rock chip sampling returned results of up to 0.56% copper, 0.12 g/t gold, and 0.45% molybdenum.
“Company changing discovery”
Terpu added: “The company will continue to develop the exploration concept and these deposits require systematic exploration in order to properly map the extent of the systems and identify the prospective parts of that system for targeted drilling.
“Our aim over 2019 is to identify multiple targets and make that company changing discovery.”
Regional mapping and geochemical programs are ongoing with geophysical surveys planned for quarter one 2019.
- Jessica Cummins