Great Western is looking to follow up arguably Australia’s most exciting copper discovery this century, looking to do something even its founder couldn’t do.
A high grade volcanogenic massive sulphide discovery, Sandfire Resources (ASX:SFR)produced in excess of 60,000tpa at DeGrussa’s peak.
Opened just three years after its discovery in 2009, DeGrussa was one of the lowest cost copper projects on the ASX for over a decade, helping Sandfire go from minnow to the bourse’s flagship pure play copper exposure and funding its acquisitions of the Motheo and MATSA mines overseas.
But the only satellite discovery ever mined was the Monty deposit, discovered by Kerry Harmanis’ Talisman Mining (ASX:TLM).
Great Western’s Fairbairn, located 120km from DeGrussa, boasts geophysical targets sitting between 80-190m below surface beneath surface samples grading up to 0.19% Cu and 0.15g/t gold.
Drilling is expected to commence by the end of this month.
“These targets have been identified and refined using cutting-edge geophysics and assessed by leading people in this field,” GTE MD Shane Pike said on announcing the drill program.
“Geological mapping completed by our team found the targets are located in a geological setting expected for a DeGrussa style copper-gold deposit and share many other key geological characteristics.”
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