Great Western leaps nearly 40% intraday after setting up new Yerrida North targets

Great Western Exploration’s (ASX:GTE) share price jumped by nearly +40% in Monday trading after the explorer identified two new drill-ready copper-gold targets at its Yerrida North project in Western Australia.

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The news comes close on the heels of the company last week revealing it was set to drill six copper-gold targets at Juggernaut at Yerrida North. The Diorama and Baroo copper targets have both been advanced to drill-ready status, with drill permitting now approved on the back of positive field work.

Diorama was assessed as a DeGrussa-style copper-gold target located immediately north of Great Western’s Juggernaut copper-gold targets. The target was initially defined as a lag copper anomaly, with field mapping defining gossanous quartz from the limited surface outcrop, which was mapped in some areas.

It is also suggested that shallow cover defined throughout the area may be potentially obscuring copper mineralisation just below the surface.

The Australian company is now planning to undertake an air core drilling programme to test below the shallow cover at Diorama, to confirm it as a target for future targeted drilling. Drilling is anticipated to commence in the June quarter, after activities at the Oval and Juggernaut targets are complete.

Baroo, meanwhile, is a previously unmapped quartz vein that has returned elevated copper results up to 1,150 parts per million (ppm). No mapping or sampling of the vein has been previously undertaken; it was delineated by Great Western during its regional geological field mapping programs.

A maiden reverse circulation drilling programme has been designed to test for vein and is scheduled to be undertaken at the same time as Great Western’s drilling of the six nearby Juggernaut copper-gold targets.

Through Monday, GTE shares have been 1.9c/ea.

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