The giant Oval and Oval South Copper-Gold targets are within the
Great Western will receive funding for up to 50 per cent of the drilling costs (capped at
The Company believes the EIS co-funding is a strong endorsement of the prospectivity of Oval and Oval South and appreciates the support from the Western Australian Government for the Company's exploration programme.
The Oval and Oval South Targets were originally defined by
In 2010 a VTEM survey was completed by Great Western over an area that encompassed both Oval and Oval South. This geophysical method can penetrate deeper into highly conductive terrains such as shales at this location than the Tempest technique utilised by
Further definition of the Oval and Oval South targets was completed by a joint venture between Great Western and Sandfire (ASX:SFR), where Sandfire spent
Sandfire completed an Airborne Gravity Gradiometry (AGG) in 2022, with the AGG survey defining discrete gravity highs at Oval and Oval South, that overlayed near perfectly with the VTEM anomalies (Figure 3*). The coincident gravity and electro-magnetic anomalies were interpreted as potential buried bodies of metal rich sulphide mineralisation (GTE ASX Announcement
The geophysical signatures are interpreted by Great Western as sharing similarities with the colossal intrusive related copper-gold Winu ((2.88Mt Copper - 7.88Moz Gold,
Further Interpretation Defines "Growth Fault"
Further interpretation of geophysical data (gravity and magnetics) by Great Western defined a north-east trending feature (GTE ASX Announcement
The Yerrida Basin Growth Fault is a long-lived structure, likely to have penetrated Archean Basement below the
This identification of the
Oval & Oval South's Impressive Key Ingredients
Discovery of giant deposits often involve the identification of at least three key ingredients that may define a potential major mineralisation system. The interpretation of the Yerrida Basin Growth Fault adds to the very significant key ingredients of Oval and Oval South already identified, which greatly enhances the discovery of a giant Winu-style intrusive related copper-gold system, which now include:
- Co-incident gravity and electro-magnetic anomalies - zones of dense rocks that are conductive interpreted to represent obscured metal rich sulphide mineralisation;
- Co-incident magnetic anomalism potentially representing a deep intrusive providing mineralised fluids and heat source to drive a mineralised system;
- Proximity to the crustal scale Ida Fault, a proven fertile conduit for metal rich mantle fluids;
- Intersection of the Ida Fault by a basin defining "growth structure", allow mineralised fluids to ascend and focus within suitable trap site/stratigraphy;
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- Position of both Oval and Oval South within an east-west intrusive corridor, a potential zone of weakened crust, which in conjunction with the Ida Fault and GSWA growth Fault, makes an ideal trap site for metal accumulation.
Great Western interprets that Oval and Oval South's coincident geophysics anomalism, location on a major crustal mantle tapping fault, newly interpreted intersection with a basin defining growth fault, and within favourable stratigraphy creates the potential for a colossal discovery to be made.
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