Eastern Metals Ltd

Cobar

Newsletters

Announcements

Presentations

Market Data

Home

Latest News

Project Portfolio

Arunta

Corporate Governance

Board & Management

About

Lato

Surface geochemical sampling in May 2024 defined two new targets (refer to figure below), 

, along strike from the more advanced Evergreen zone on the highly prospective Woorara Fault.

In Q3 2024, Eastern Metals completed a reconnaissance drilling program to test these new targets. Further details can be found in ASX announcements dated 23 and 29 October 2024.

One hole at Kelpie Hill (KHRC001), directly targeting a strong, lead-arsenic-antimony soil geochemical anomaly, returned a shallow, high-grade gold intercept of 

 (WDRCDD001) intersected two broad low grade copper zones of 

Alteration assemblages intersected downhole within WDRCDD001 include chlorite-carbonate and phyllic (quartz-sericite-pyrite) alteration with significant breccia associations, and stringer style vein fill and fracture-controlled chalcopyrite and Pb-Zn mineralisation.

intrusion-related heat, fluid and metal source

a mineralisation style not previously described at Browns Reef

. This is further supported by re-logging historical diamond core and petrological studies, which found rhyolites that were previously logged as dolerite.

The Cobar Project is located 470km west of Sydney, near the town of Lake Cargelligo in New South Wales. It includes the Company’s Browns Reef tenement (EL6321), as well as the Tara, Bothrooney and Black Range Exploration Licences (EL9180, EL9136 and EL9565). All four tenements lie in the southern Cobar Basin, a Tier-1 base metals exploration and production province.

rapidly emerging as a new exploration hotspot

, and reconnaissance drilling undertaken by the Company in Q3 2024 at two new targets,

Browns Reef also hosts a JORC 2012 Exploration Target of 27-36Mt grading between 1.3-1.4% zinc, 0.6-0.7% lead, 9-10g/t silver and 0.2-0.3% copper prepared in 2015 by the previous owner, Kidman Resources.

Tara (EL9180), Bothrooney (EL9136) and Black Range (EL9565) represent exciting secondary targets within the Cobar Project along the highly prospective Woorara Fault.

Eastern Metals has identified prospective geology within each of these licence areas, with exploration programs to be undertaken in parallel with the Company’s primary work program focussed on Browns Reef.

Browns Reef (EL6321) is an ‘advanced exploration project’ located 5km west of Lake Cargelligo in the southern Cobar Basin, NSW. Past drilling and mapping along the Browns Reef trend has established a consistent geological framework, with the Ordovician Clements Formation turbidites to the east, and the Early Devonian Preston Formation to the west.

Contact between the two units is generally considered to be faulted; however, in some drillhole intersections, no faulting or shearing is observed in diamond core and the contact appears to be a simple unconformity.

Historical and current data shows that the main mineralised trend has good continuity from south of Browns Reef through Evergreen, Kelpie Hill and historical prospects to the north for ~6km and is open to both the north and south. This trend has been ascribed to the 

Woorara Fault, a crustal scale structure with several spatially related mineral occurrences

within coarse, gold-bearing quartz veins hosted in Ordovician sediments 

in the middle of Lake Cargelligo in the 1870s

. These Ordovician sediments are interpreted as the same Clements Formation that lies adjacent to the Woorara Fault-Preston Formation unconformity within EL6321.

These gold veins and recent drilling results (

 underneath the Browns Reef mineralised trend.