Woomera and Arcoona
Iron-Oxide Copper-Gold Projects

The Woomera IOCG Project has a significant landholding of 668km² 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 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 area is highly prospective for three styles of copper-gold mineralisation:

1. IOCG Breccia Bodies, within older basement rock at depth (i.e. Olympic Dam, Oak Dam, Carrapateena and Prominent Hill).
2. Stratabound IOCG’s (i.e. Emmie IOCG, Punt Hill & Hillside).
3. Sedimentary Copper in overlying cover rocks (i.e. Mt Gunson & Emmie Bluff – potentially remobilised from IOCG basement below).

Winjabbie South Target

Historic drilling in the area indicates copper mineralisation is regionally extensive, extending over several kilometres. Significant results include:

• WJE001: 5m @ 0.85% Cu from 813m inc.
  • 1m @ 3.6% Cu, 0.23 g/t Au from 813m
• WJD1: 63m @ 0.31% Cu from 864m
• 07WJ01: 75m @ 0.30% Cu from 812m
  • inc. 7m @ 0.88% Cu from 826m
• SAE11: 94m @ 0.21% Cu from 1005m
  • inc. 7m @ 0.48% Cu from 1006m
  • inc. 9m @ 0.52% Cu from 1086m
  • and 42m @ 0.28% Cu from 1123m
  • inc. 5m @ 1.1% Cu from 1160m

From the drilling results it appears that the grade and thickness of the results increase westward and are fault controlled, which can be seen in the figure below.

Rocky Well Target

Gravity modelling 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.

Bernard Hill Target

The Bernard Hill gravity anomaly is a significant IOCG style target, modelled as a 400m wide, >2,000m long body with a depth extent of 1,000m. The modelled density is 3.4 g/cm³ which is comparable to that measured in known IOCG deposits such as Prominent Hill, Carrapateena and the Oak Dam Project. A geological interpretation of the computer model is presented below.