Ann: 3D seismic points to large copper target under Hillside, page-19

Looks like they bagged an elephant.

Well you can never be too sure about geophysics until you put a hole down. However if one looks further north up the Gawler Craton, Coda took the old geophysics and drilling that was done by MIM looking for a deep IOCG deposit and re-interpreted the data and managed to hit the actual target at around 800m. Then my mind harks back to the day when the Rio Tinto geologists drilled deep under the Superior Mine and hit the Resolution orebody ~ inferred resource of 1.624 billion tonnes containing 1.47 percent copper and 0.037 percent molybdenum.

Looking at Hillside, before Rex was involved there was the old Hillside Shaft which was the only surface expression down a 100ft or so. With a bit of work they have found about 2 million tonnes of copper and that's down to ~ 600m. New geophysics and interpretation, who knows how deep the copper source sits but Resolution starts at 1400m and goes down to 2000m.

On the scant information at Olympic Dam, their resource drilling shows mineralization down to 2km. Maybe its not economic but shows that IOCG systems in the Gawler Craton don't stop at 500m, and infact some only start at that depth so plenty of future scope for discovery.