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). DevEx has identified significant near surface, broad copper intercepts supporting the potential for a substantial copper-gold discovery.
The project covers an area of 53 km2, and is located close to modern infrastructure only ~18km from the township of Tumut, New South Wales. Bogong is located 60km south east of DevEx’s nearby Junee Project, further strengthening the Company’s newly diversified focus and regional holding.
Figure 1: The Bogong Project is strategically located within the Lachlan Fold Belt of New South Wales and south-east of the Company’s Junee Project.
DevEx has recently made a strong start to its maiden exploration campaign after identifying porphyry-hosted copper-gold targets at the 100%-owned Bogong Project.
These results further validate previously identified copper intercepts from historical data and support the potential for a substantial copper-gold discovery.
DevEx’s field mapping and rock chip sampling in the area surrounding the historical Bogong Copper Mine has returned individual values of up to 10% copper and 0.47g/t gold with mineralisation extending over 500 metres of strike (Figure 2).
Figure 2: June 2019 outcrop mapping and rock chip sampling from Bogong Prospect underlain by historical copper in soil.
Please refer to ASX Announcement – ‘Porphyry-hosted copper-gold targets identified in maiden exploration program at Bogong Project, Lachlan Fold Belt, NSW – 1 August 2019’ for full details.
These new results support the previously reported significant near-surface copper mineralisation, identified following a review of historical percussion drilling by A.O.G. Minerals Pty Ltd (‘AOG Minerals’) in 1974 (see Figure 3 and 4). Better intercepts include:
Figure 3: Summary of significant copper drill-hole intercepts and copper in soil anomalies as previously reported by AOG Minerals. Copper intercepts are reported as down hole lengths as true widths are not known.
Figure 4: 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 associated with a feldspar porphyry. See Figure 1 for location.
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 porphyry host rock, are all seen as positive indicators for the potential for a significant copper system.
Other holes within the prospective corridor are viewed as only a partial test of the prospective system, some of which contain anomalous copper (>0.1% Cu) at the bottom of the hole. Several of the southern holes targeting historical workings have not drilled over peak copper in soil anomalies.
No modern day geophysics or further drilling have been conducted.
Please refer to ASX Announcement – ‘Copper-Gold Targets Identified at Bogong Project, NSW – 22 May 2018’ for full details.
Figure 5: Photo of copper sulphides (chalcopyrite and bornite) within feldspar porphyry outcrop near the historical Bogong copper workings – Chalcopyrite (yellow sulphide) and bornite (brassy colour) are disseminated throughout the rock.
As a result of these positive findings, the Company is now planning an extended geological mapping and surface geochemistry campaign surrounding the Bogong copper workings.
This fieldwork will form part of a larger project-scale campaign, with additional sampling and a maiden ground IP geophysics designed to assist with the definition of drill targets in late 2019.
For the further project information, please view our latest Investor Presentation.