What's Happening?
Great Western Exploration has identified a potential large volcanic-hosted massive sulphide (VHMS) copper-gold system at its Yerrida North project in Western Australia. The discovery was made following a close-spaced ground gravity survey, which revealed a gravitational anomaly at the Oval and Oval South targets. The company plans to further investigate the anomaly with a diamond drill hole, aiming to reach a depth of 750 meters. Great Western is seeking co-funding from the WA Government under the Exploration Initiative Scheme, with results expected in October.
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Why It's Important?
The identification of a potential VHMS copper-gold system could have significant implications for the mining industry, particularly in terms of resource development and economic growth. If successful, this exploration could lead to increased copper and gold production, contributing to the local economy and potentially creating job opportunities. The project also highlights the importance of government support in advancing exploration initiatives, which can drive innovation and investment in the mining sector.
What's Next?
Great Western Exploration will proceed with the diamond drilling to test the gravitational anomaly, with the results of the WA Government co-funding application expected in October. The outcome of this exploration could influence future investment and development strategies within the region, potentially attracting further interest from stakeholders in the mining industry.
