• 10km gravity feature highlighted by latest gravity survey
• 16m @ 0.67 copper in historic drilling 1,500m south of boundary of EL 4816
The Directors of Core Exploration Ltd (ASX:CXO) are pleased
to announce the grant of Exploration Licence (EL) 4816 (Sandy
Point) as part of its Roxby South project near BHPB's Olympic
Dam mine in northern South Australia.
Historical exploration data has highlighted a 10km long
gravity ridge (approx. 4mgal) within
EL 4816. The gravity feature is 5km north of the Horse Well
Prospect which returned 16m @
0.67% copper (HWD1 903-919m) in historic drilling by WMC
(Figure 1).
Figure 1. Latest gravity survey location and image, Sandy Point EL 4816, Roxby South Project
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au
www.coreexploration.com.au
At Horse Well prospect a magnetic anomaly was defined and
modelled at near 1,000m depth. Hole HWD, drilled by WMC
approximately 1,500m to the south of EL 4816, intersected
basement at 861 m that comprised of volcanics and hematite
breccias associated with copper minerals chalcocite, bornite
and chalcopyrite typical of IOCG-style mineralisation.
Core's Sandy Point tenement (EL 4816) and the Company's Roxby
Downs (ELA 227/09) tenement application are located on the
eastern margin of the Gawler Craton in South Australia,
within the Olympic Iron-Oxide-Copper-Gold (IOCG) Province.
The Olympic IOCG Province is host to the massive Olympic Dam
mine and Oz Minerals' Prominent Hill mine and Carrapateena
Project (Inferred Resource of 203 Mt at 1.3% copper and
0.6g.t gold).
Acropolis
West
Figure 2. Core's Roxby South tenements, Olympic Dam mine and nearby IOCGU prospects, northern
South Australia.
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au
www.coreexploration.com.au
The Sandy Point tenement (EL 4816) and Roxby Downs (ELA
227/09) application cover approximately 400km2
of the Olympic Dam Copper-Gold-Uranium Province of the Gawler
Craton. The tenements are located approximately 40 kilometres
south of the world class Olympic Dam Cu-Au-U mine and within
kilometres, of known IOCGU mineralisation at the Wirrda Well,
Acropolis and Horse Well prospects (Figure 2).
Previous explorers over the Roxby South Project area have
undertaken a number of detailed gravity surveys to determine
potential targets for IOCGU mineralisation. Initial
wide-spaced gravity surveys were completed across Core's
Roxby Downs and Sandy Point tenements and regions of interest
were then covered with detailed gravity surveys to accurately
define target for drill testing.
The Roxby South Project covers a number of anomalies which
the Company considers are yet to be adequately drill tested.
Geophysical surveys over these targets are planned to
commence once both granted tenements are in place. The grant
of ELA 2009/227, which is within the Woomera Prohibited Area
(Zone1) is in process and expected to be granted shortly.
For further information please contact:
Stephen Biggins John Field
Managing Director Field Public Relations
Core Exploration Ltd
08 7324 2987 08 8234 9555
info@coreexploration.com.au john@fieldpr.com.au
The information in this report has been compiled by Stephen Biggins (BSc(Hons)Geol, MBA) as Managing Director of Core Exploration Ltd and who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute's codes and recommended practices. As a Competent Person, he has a minimum of 5 years relevant experience in the style of mineralisation and types of activities being reported and has given written consent to the above report in the form and context in which it appears.
A Level 2, 143 Hutt St, Adelaide SA 5000 | T (08) 7324 2987 | F (08) 8312 2002 | E info@coreexploration.com.au
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Jan 30 2012 - Tenement granted 40km south of Olympic Dam |