Paterson South Copper - Gold

Highlights

  • Three licences covering 950km2, significantly expanding the Company’s land position

  • Approximately 120km south east of the Pascalle Project area

  • "Bullseye" magnetic feature and multiple other geophysical anomalies identified and remain untested

  • Neighbouring tenements owned by Greatland Gold (AIM:GGP), FMG (ASX:FMG) and Ausquest (ASX:AQD)

Location

Renewed exploration of the Paterson Province has resulted in significant discoveries, including Greatland Gold’s (AIM:GGP) Havieron Discovery (with results including 275m @ 4.8g/t Au and 0.6% Cu) and Rio Tinto’s (ASX:RIO) Winu Discovery (with results including 681m @ 0.49% Cu and 0.33g/t Au).

 

Recent exploration successes are the result of both a renewed focus by major mining companies undertaking large scale work programs and academic studies developing a holistic mineral systems model for the broader region.  With an enhanced understanding of geophysical signatures based on discoveries such as Havieron and Winu, modern exploration techniques are resulting in increased exploration success at depth and beneath cover.

 

The new tenements applied for by the Company target exciting geophysical targets under 400-500m of cover thought to be prospective for Telfer, Winu and Havieron style mineralisation.  These new applications are located in the underexplored southern portion of the Paterson Province, with the same host formations and structures common to the major mineral deposits in the region further to the north. Despite the known geological affinities, the area has seen very limited historic exploration.

Geophysical Map of Paterson South tenement applications with regional magnetic overlay

Identification and pegging of early stage project areas is part of an ongoing initiative to develop the Company’s portfolio of exciting gold and copper prospects.  The new tenements complement the Company’s existing Pascalle Project while introducing new targets in a similar geological setting.

 

Reconnaissance and early stage exploration activities are being planned to identify priority areas for drilling commencing once tenements are granted. 

Recent activity in the South Paterson region has seen Greatland Gold (AIM:GGP) staking their Canning exploration licence in early 2021, details below;

 

 "the Canning exploration licence application (E45/5862) comprises an area of 114km2and is located approximately 175km south east of Havieron. The new licence application contains the bulk of a large magnetic “bullseye” anomaly, similar to the magnetic “bullseye” located over the Havieron deposit. No previous drill testing of this anomaly has been reported in historical records."¹

Greatland Gold (AIM:GGP) New Canning licence location within Paterson Orogen on regional gravity image.¹

 

¹ Microsoft Word - 20210218 GGP Announcement - Canning Licence Application (v.6) (greatlandgold.com)

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