Gourlays Creek Project

Latest development news for the Gourlays Creek Project.

At Gourlays Creek – in the June quarter the Company completed a program of 7 reverse circulation percussion drill holes along strike to the NW of the three 1984 Geopeko diamond drill holes which were intended to test the prospect for its tin skarn potential.

The Stellar drilling essentially reproduced the Geopeko results and where the 10 drill holes to date and Geopeko surface mapping have allowed a reasonable understanding of the main controls on mineralisation. The western zone sources a strong magnetic high where to date most exploration has focussed. The eastern zone is non magnetic but tends to source more EM and IP conductive anomalies that the magnetic rocks. Both the Geopeko and Stellar drilling intersected significant but intermittent copper mineralisation and minor tin, gold and lead-zinc mineralisation.

The best copper intercepts are contained within the magnetic rocks but copper also occurs within the calc silicate (non-magnetic) zone. To date the best results are the copper and gold intersections from SRG3. This is the most easterly of the Stellar drill holes and is drilled within the non magnetic zone. The hole was abandoned (due to drilling difficulties) in gold mineralisation at only 57m, still within the gold intersection.

The stratiform and discontinuous style of copper mineralisation at Gourlays Creek, and its general but not exclusive association with magnetite, is similar to the known mineralisation at Alpine. Both Alpine and Gourlays Creek have copper-gold anomalism associated with non-magnetic carbonate bearing stratigraphy and conductive anomalies from ground electrical geophysics. At both prospects this target type is peripheral to the prominent magnetic anomalies (which have driven drill targeting to date), and consequently the non-magnetic copper-gold style targets are under explored.

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¹ GC1-GC3 drilled by Geopeko

Table - Gourlays Creek drilling, best intersections