The Project comprises two exploration licences, Harrier (EL9194) and Falcon (EL9190). Eastern Metals’ targets within the Thomson Project are copper-gold and lead-zinc-silver deposits similar to the Great Cobar and CSA Copper-Gold Mine and the Endeavor Lead-Zinc Mine.
These types of deposits are generally steeply dipping, or pipe-like, with little surface geological or geochemical expression. However, the ore systems typically contain magnetic material, mainly the iron-sulphide mineral pyrrhotite, and can be identified using ground or airborne magnetic surveys. The magnetic anomalies associated with the Cobar deposits are generally very localised, discrete “bull’s eye” type anomalies.
Based on very high-quality aeromagnetic data, Eastern Metals has defined at least nine walk-up drill targets within the Thomson Project with potential for large base and precious metals deposits. Some of these targets are defined by discrete “bull’s eye” magnetic anomalies, similar to Cobar Basin deposits such as Endeavor (Elura), Great Cobar, Great Chesney and The Peak, while other targets are defined by more complex magnetic anomalies considered to have potential for Intrusive Related Gold (IRG) style mineralisation.
Eastern Metals is now finalising prospect ranking and drill-hole design to target the highest priority geophysical anomalies.
In addition, the Company has commenced a marketing program to a select group of mining companies known to be interested in the discovery of large-scale but blind copper or other base metal deposits with a view to potentially establishing a Joint Venture partnership.