Bogong Project

Highly prospective opportunity to explore beneath historic copper (gold) drill intercepts

The Opportunity

 

The Bogong 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). The project covers an area of 53 km2, and is located close to modern infrastructure only ~18km from the township of Tumut.

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.

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

Discovery

 

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 2: Summary cross-section of drilling by AOG Minerals. Copper intercepts are reported as down-hole lengths as true widths are not known. Copper mineralisation comprising chalcopyrite and bornite is reported to be hosted by a felsic rhyodacite.

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. 

The application of modern geophysics such as ground-based Induced Polarisation surveys would map the potential of the sub-surface copper system around the historical drill-hole intercepts.

Figure 3: Summary of significant copper drill-hole intercepts and soil anomalies as previously reported by AOG Minerals. Copper intercepts are reported as down hole lengths as true widths are not known. Later rock-chip sampling by a previous explorer demonstrates a relationship between gold and copper.

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