Just to add a little bit more, I re-read one of the papers on PH, the approximate age of the deposit is 1585 Million years.
The importance of this age is that it is thought that mineralisation occurred at the same time as the host rocks. So find more rocks that are that same age and you are in the right ballpark for another IOCG deposit.
OZ have one of the most prospective areas been the Mount Woods Inlier completely tied up. The Mount Woods Inlier is the right age, been Paleoproterozoic, so it was formed around the same time. There have been sniffs of Cu and Au from the exploration, so it shows there were mineralised fluids moving right around that area.
They just need to find potential zones where the metals could have accumulated in economic values. Like big fault zones or changed in rock type.
One of the first things that is done during these type of exploration programs is to start dating rocks in the region. This helps build a better picture of how the Gawler Craton formed and begins to narrow down the search for potential targets.
They would use a combination of rock dating, geochemistry and geophysics to help define potential targets.
BTW I found an article on Carrapateena, it covers the discovery history and some background geology of the area. If anyone wants a copy just post your email address for me.
OZL Price at posting:
$11.90 Sentiment: LT Buy Disclosure: Held
