Yerrida North – Oval and Oval South

The Yerrida North Project was previously a joint venture (JV) between Great Western Exploration and Sandfire Resources (GTE ASX Announcement 17 August 2023). Sandfire spent $4.5M on exploration within the Yerrida North Project since the commencement of the joint venture in 2017, acquiring and compiling a comprehensive geological data package for future exploration, which will now revert to Great Western. This data includes a stratigraphical and fault model for exploration targeting, that was interpreted from legacy surface and drilling data, plus geological mapping, surface geochemical sampling, and magnetic and airborne gravity gradiometry geophysical programmes, completed by Sandfire Resources (GTE ASX Announcement 21 July 2023) since 2017.

This work resulted in several targets generated including Oval, a Rio Tinto VTEM target defined in the 1990s, and is interpreted to have not been effectively drill tested, and Oval South, a co-incident gravity- magnetic feature (Figure 1). Oval South is located on an east-west extensional structure, with potassic-magnetic alteration mapped at surface, and is interpreted as a potential mineralised intrusion warranting further exploration.

Yerrida North Targets

The Yerrida North Project is located on the northern and western portions of the Yerrida Basin, approximately 800km north-east of Perth and adjacent to the DeGrussa and Monty Cu-Au Volcanic Hosted Massive Sulphide deposits (VHMS) (GTE Announcement 5 October 2023).

The Company’s analysis of the geophysical data, the position adjacent to the crustal scale mantle tapping Ida Fault, and the favourable sedimentary units of the Yerrida basin makes these targets highly prospective for colossal scale deposits such is:

• Intrusive related copper-gold - Winu (2.88Mt Cu – 7.88Moz Au, Rio Tinto 2023) and Greatland Gold-Newcrest’s Haverion (2.9Moz Au – 140Kt Cu, Newcrest 2023) deposits, or

• DeGrussa-Monty style VHMS deposits (combined metal endowment 766Kt Cu, 588Kt Oz Au).