Junee Copper-Gold Project, NSW 

EXPLORING FOR A CADIA RIDGEWAY STYLE COPPER-GOLD DISCOVERY IN THE LACHLAN FOLD BELT 

The Opportunity

 

The Junee Project lies on the southern extension of the Macquarie Arc of NSW – Australia’s largest porphyry copper-gold terrane. Age dating and chemistry from the area undertaken by the Geological Survey of New South Wales (GSNSW) identified monzonitic intrusions, such as the copper-gold bearing Cooba monzonite (Figure 1), which are high-potassium in nature and the same age as the copper-gold mineralised intrusions at the major Cadia-Ridgeway and Northparkes mining operations to the north (Figure 2).

At the Nangus Road Prospect early drilling defined a monzonite immediately south of the current drill programme. Geochemistry of the monzonite at Nangus Road indicated it is a porphyry-fertile, high-potassium intrusion similar to other large porphyry copper-gold deposits in the region, such as those seen at Cadia-Ridgway and Northparkes.

The extensive Au-Cu bedrock anomaly on the northern margin of the Nangus Road monzonite and the large alteration zone seen in the current drill programme are pointing to an exciting and rapidly developing exploration property.

Figure 1: Junee Project, NSW, location of Nangus Road Prospect within EL8622, showing RTP magnetics, where recent AC and RC drilling has identified an extensive Au-Cu anomaly on the northern margin of an altered monzonite associated with a magnetic anomaly similar in size and amplitude to the copper-gold bearing monzonite at Cooba (north of the project).

 

Figure 2: Location of the Junee Project, NSW, within the Lachlan Fold Belt of New South Wales.

 

Exploration

 

The company executed a maiden air-core drilling program designed to test a +1km long coincident copper-gold soil anomaly, returning higher gold grades of up to 3.5g/t Au.

A 16,000m combination of diamond, RC and AC drilling is underway to test the large 2km long, Cu-Au bedrock anomaly identified by the previous air-core drilling.

The drilling will also be testing several induced polarisation (IP) anomalies identified beneath this extensive bedrock anomaly to evaluate the potential for underlying porphyry copper-gold mineralisation.

Diamond drilling commenced to target the Nangus Road copper-gold prospect, with the first diamond hole intersecting several broad zones of intense hydrothermal alteration with associated pyrite mineralisation and quartz veins between 153m to the bottom of hole at 453m (Figure 3). Assays are pending.

The second diamond hole (Hole 2) has commenced and will test the same IP chargeability anomaly and overlying Au-Cu mineralisation 400m further to the north (Figure 4).

 

Figure 3: Cross section, including modelled 3D IP chargeability anomaly, showing recently completed diamond hole 21JNDD001.

 

Figure 4: Nangus Road Prospect showing location of current diamond drilling 21JNDD001 and 22JNDD002 (Hole 2 - in progress) testing the 2km long bedrock Au-Cu anomaly on 400mN spacing. RC and AC drilling has also commenced and will infill the previous AC intercepts.

 

For the latest project overview, view our ASX Announcements and Investor Presentation.

 

Geology

 

The Junee Project area covers a sequence of Ordovician and Silurian volcanics adjacent to a major crustal structure, the Gilmore Suture Zone. The package sits within the Macquarie Arc,  a province highly endowed with copper-gold. The rocks of the Macquarie Arc host many large porphyry copper-gold deposits. This is the style of mineralisation targeted on the Company’s tenure.

The Project also contains the Billabong Creek gold prospect and the Riversdale 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.