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Great Western Exploration (ASX:GTE) is officially on the cusp of drilltesting its ‘Giant Oval’ WA-based copper-gold target with a rig now on-site.
Located near Meekatharra, company geotechs have their hopes raised on the back of “strong geophysical attributes” at Giant Oval. An 800m campaign will be spread across 4 drillholes.
The target was originally spotted by Rio Tinto in the late 1990’s. Adding to the company’s hopes is that the target is located near a geological fault, typically, a feature conducive to ‘trapping’ mineralisation over geological time as fluids penetrate deep rock.
“Great Western interprets … location on a major crustal mantle tapping fault intersected with a basin defining growth fault, and within favourable stratigraphy creates the potential for a large discovery to be made,” the company wrote on Tuesday.
Drilling will be carried across two stages with a rig most recently on-site Kalgoorlie. Stage one will see two holes sunk at Oval, with geodata thereafter to guide what happens with stage two.
Assays are expected to be returned in the next 6-8 weeks. The Giant Oval target is part of GTE’s larger Yerrida North Project.
GTE last traded at 3.5cps.
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