Bogong Project

The Opportunity

 

The Bogong Copper-Gold Project is located within the highly-endowed Lachlan Fold Belt of New South Wales. The project is located 60km south east of DevEx’s nearby Junee Project, further strengthening the Company’s newly diversified focus and regional holding.

DevEx has identified significant near surface, broad copper intercepts following a technical review of historical drilling data at the Bogong Project. These drilling results have not been followed up with further drilling or modern-day geophysics.

Please refer to ASX Announcement – ‘Copper-Gold Targets Identified at Bogong Project, NSW – 22 May 2018’ for full details.

For the latest project overview, view our latest Investor Presentation.

Location

 

The Bogong project covers an area of 53 km2, and is located close to modern infrastructure only ~18km from the township of Tumut. The project lies within the Lachlan Fold Belt, a major geological province which also hosts the world-class copper deposits Cadia-Ridgeway (owned by Newcrest Mining) and Northparkes (owned by China Molybdenum Co Ltd).

Figure 1: Location of the Bogong Copper-Gold Project, New South Wales.

Geology

 

The geology comprises typical volcanic rocks, sediments and intrusions of the Lachlan Fold Belt. Of most interest to the Company is the potential for a significant copper-gold system between the historical Bogong and Goobarrandra Mines (see Figure 2).

Historical percussion drilling by A.O.G. Minerals Pty Ltd (‘AOG Minerals’) in 1974 identified copper mineralisation in drilling including:

  • 54.9 metres @ 1.06% copper from 6.1 metres in hole 16;
  • 9.2 metres @ 2.02% copper from 39.6 metres in hole 17; and
  • 18.3 metres @ 0.91% copper from 15.2 metres in hole 6.

This drilling has not been followed up.

Figure 2A and B: The Bogong Project is strategically located within the Lachlan Fold Belt of New South Wales and south-east of the Company’s Junee Project. Both the historical Bogong and Goobarrandra copper mines form part of a corridor of rocks prospective for copper-gold mineralisation.

The Company considers that the Bogong Project is largely untested for economic deposits of copper and gold mineralisation. The broad widths of mineralisation intersected historically, and the association with a felsic host rock, are all seen as positive indicators of a significant copper system.