Of significance is that it is an iron-oxide-copper-gold system, which is the same as Olympic Dam and Carapateena. Thats not to say it will be that big - the geophysical signature indicates it is much smaller than Olympic Dam.
However, as Carapateena shows these IOCG systems can be narrow pipe like structures that go down into the bowels of the earth. Carapateena returned a 905m intersection at 2.1% copper and 1g/t gold.
Interesting to see that it is in fact an old discovery that has been locked away for over 20 years due to native title. A lot has changed in that time - particularly our knowledge of IOCG systems.
Expect some interest over the next few days from people in industry. Just had one geo ring me up excitedly.
WGR hold a lot of ground around this region.
WGR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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