Woomera and Arcoona
Iron-Oxide Copper-Gold Projects
The Woomera IOCG Project has a significant landholding of 668 km2 and is strategically located in the World Class Copper-Gold Olympic Province of South Australia. It is close to BHP’s Oak Dam West copper-gold discovery and newly operating Carrapateena Copper-gold mine. Other notable copper occurrences include Coda Mineral’s Emmie IOCG discovery, and the sediment hosted copper-cobalt-silver mineral resource at Emmie Bluff in the overlying cover strata.
The tenement is highly prospective for two styles of Copper-Gold mineralisation:
- Iron-Oxide Copper-Gold (IOCG) within older basement rock at depth (i.e. Olympic Dam, Oak Dam, Carrapateena and Prominent Hill)
- Strata-bound style sediment hosted copper-gold accumulations in the overlying younger cover rock sequences (i.e. Emmie Bluff and Mt Gunson)
IOCG Gravity Targeting
Gravity modelling work over the Woomera Project Area highlights the Rocky Well Gravity Anomaly in the south-eastern corner of the tenement area (Figures 2 & 3). The gravity model suggests that a dense body comparable in size and density to Oz Minerals’, world-class Carrapateena Orebody, fits the observed data (Figure 4). The target is a high priority for the Company moving forward.
Petratherm postulates that “Stratabound IOCG’s” offer a new style of exploration target with large tonnage and high-grade potential. Gravity modelling undertaken during the period highlights large areas where potential stratabound IOCG mineralisation may be occurring on the Woomera Project Tenement as shown in Figure 3. It is anticipated that the drilling of these targets and the Rocky Well IOCG target will get underway by the end of 2023.
Ground Gravity Survey
The Company completed a comprehensive ground gravity survey over the Arcoona Tenement which identified several targets prospective for Copper-Gold. Preliminary analyses indicate both deep basement bodies prospective for IOCG style copper sources and shallower flat bodies prospective for sedimentary copper in the cover may be present. The Company will report on geophysical targets identified for potential future drill testing once modelling work is complete.