The Junee Project is located within the highly-endowed Lachlan Fold Belt of New South Wales and covers an area of 281.3km2. DevEx has identified the potential for buried porphyry-style copper-gold style mineralisation of similar style to other major deposits in this region including the world-class deposits Cadia-Ridgeway (owned by Newcrest Mining Ltd) and Northparkes (owned by China Molybdenum Co Ltd).
Figure 1: Location of the Junee Copper-Gold Project, New South Wales.
DevEx significantly upgraded the exploration potential of the Junee Project following the recent assessment by the Geological Survey of New South Wales1 (‘GSNSW’) that rocks within the Junee Project, the Junawara Volcanics, are now considered to be the southern extension of the Junee-Narromine Volcanic Belt and prospective for Cadia-Ridgway and Northparkes type deposits.
Age dating and chemistry by the GSNSW found that these volcanics are contemporaneous with the mineralised intrusions at Cadia and Goonumbla (Northparkes).
Please refer to ASX Announcement – ‘Porphyry Copper-Gold Targets Identified at Junee Project, Lachlan Fold Belt, NSW – 24 January 2018’ for full details.
Figure 2: The Junee Copper-Gold Project is located within the Lachlan Fold Belt, NSW, and is on strike with several significant copper-gold deposits.
The Company has completed programs of mapping and rock chip sampling at the Billabong Creek Prospect – one of several prospects identified within the Company’s granted Exploration Licence as being prospective for porphyry copper-gold deposits. See ASX Announcement – ‘Quarterly Activities and Cashflow – 30 January 2019 for more details.
In addition to Billabong Creek Prospect, several other porphyry copper-gold targets have been recognised within the Junee Project. DevEx is currently compiling the technical information of these targets as well as entering into discussions with additional Landowners for the purpose of securing Land Access Agreements for the exploration of these new targets.
DevEx is currently progressing towards a drilling program in 2019.
For the latest project overview, view our Investor Presentation.
The Junee Project area covers a sequence of Ordovician and Silurian volcanics, the Junawarra Volcanics, adjacent to a major crustal structure, the Gilmore Suture Zone, within a province with a high copper-gold endowment, the Macquarie Arc. The rocks of the Macquarie Arc host many large porphyry copper-gold deposits, including the world class Cadia-Ridgeway and Northparkes deposits This is the style of mineralisation targeted on the Company’s tenure.
The Project also contains the Billabong Creek gold prospect and the Riverdale monzonite porphyry associated copper-gold occurrences. The area has been subjected to previous exploration by other companies and a number of zones of altered rocks with anomalous geochemistry indicative of porphyry associated copper-gold mineralisation have been defined.
There is clear potential for discovery of a major porphyry-related copper-gold system.
1East Riverina Mapping Project - Some Highlights and Implications, Eastlake and Trigg