The Bogong Project lies within the Lachlan Fold Belt, a proven geological province hosting several of Australia’s largest copper deposits including the world-class Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co Ltd).
DevEx has identified significant near surface, broad copper intercepts supporting the potential for a substantial copper-gold discovery.
The 100%-owned project is located close to modern infrastructure only ~18km from the township of Tumut, New South Wales. Bogong is located in close proximity to DevEx’s nearby Junee Copper-Gold Project and Basin Creek Gold Project, further strengthening the Company’s copper-gold exploration strategy in NSW.
The Bogong Project represents a fresh opportunity, with no prior systematic exploration conducted within the globally-recognised copper-gold region for decades.
Figure 1: The Bogong Copper-Gold Project is strategically located within the Lachlan Fold Belt of New South Wales and in close proximity to the Company’s Junee and Basin Creek Projects.
DevEx commenced a maiden exploration program at the Bogong Copper-Gold Project in mid-2019, identifying significant copper sulphides (chalcopyrite and bornite) associated with a porphyry (diorite) intrusion. New rock chip results from both outcrop and historical shafts returned individual values of up to 10% copper and 0.47g/t gold.
A dipole-dipole Induced Polarisation (IP) survey was completed in the same area, showing a significant chargeability IP anomaly beneath previously reported historical near-surface intercepts, providing the Company with further drill targets.
DevEx recently completed a maiden diamond drilling program in late 2019, designed to test significant, shallow historical copper intercepts and newly identified IP anomalies. A total of seven diamond drill holes for 1,548m was completed.
Figure 2: Plan View of the Company’s drilling programme at the main Bogong Copper-Gold Prospect and better intersections.
The wide-spaced drilling program confirmed the continuation of a zone of structurally controlled copper sulphide mineralisation (chalcopyrite and bornite) within and adjacent to a brecciated felsic porphyry (diorite), now extending over a strike length of over 400 metres.
Of most significance, assay results show that the zone dips to the west and remains open to the south and at depth beneath Hole 3, indicating that there is potential for structural repetition of the mineralised breccia. Significant down-hole intercepts include:
See ASX Announcement – 30th January 2020 for full results.
Following these results, further mapping and soil geochemistry is planned to determine the southern continuation of the copper mineralisation where small diorites have been observed.
To the west of the historical Bogong copper working, mapping of a large magnetic anomaly underlying historical copper-in-soil geochemistry is progressing (see ASX Announcement – 27th November 2019). The Company is planning several multi-element soil traverses over this area.
For the further project information, please view our latest Investor Presentation.