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Colin Hay

Golden Deeps Ltd (ASX: GED) has identified a series of priority copper-gold porphyry sulphide drilling targets from an extensive IP survey conducted at its 100% owned Havilah Project in the highly-prospective Lachlan Fold Belt copper-gold province in central NSW.

The strong, sub-surface IP geophysical anomalies were detected on multiple lines during the two-staged IP survey completed at Havilah, which comprised approximately 25 line-km of IP surveying across the Hazelbrook prospect target area.

The new IP anomalies are associated with an interpreted north-south contact zone where detailed gravity imagery from a recent survey indicates that the targeted Ordovician (Sofala) Volcanics thicken across the granite/porphyry contact zone.

CEO, Jon Dugdale, said this faulted contact zone is a favourable location for the discovery of porphyry copper-gold mineralisation within the volcanics.

“The detection of these strong, sub-surface IP anomalies at the Havilah project is a significant and exciting breakthrough for Golden Deeps,” Mr Dugdale said.

“We have previously identified large copper anomalies at surface with rockchip values over 1% copper, which could represent ‘leakage’ of mineralisation in vertical structures that link to these strong sub-surface IP targets.

“We look forward to drilling these strong IP anomalies and testing the potential of this highly-prospective zone for the discovery of significant porphyry copper-gold deposits.”

The strongest sub-surface IP chargeability-sulphide target occurs at the northern end of the survey where values in excess of 55 millivolts per volt (mV/V) were detected against background of less than 10 mV/V.”

Northeast trending

This very strong anomaly occurs where a previously detected northeast trending copper anomalous zone at Hazelbrook3 projects to intersect the north-south corridor. The Hazelbrook anomaly and the nearby Hazelbrook North anomaly include copper with gold and zinc values associated with strongly altered and mineralised Sofala Volcanics, which may represent ‘leakage’ from a copper +/- gold, molybdenum (Mo), zinc sulphide deposit below and/or down plunge along the structural fluid pathway.

Another two strong anomalies occur to the south within the same trend, including an anomaly that corresponds with a resistive gravity low – which could be a porphyry intrusion. This strong sub- surface IP anomaly represents a priority target for drill testing – targeting a high-grade copper-gold discovery similar to the Ridgeway deposit at the Cadia-Ridgeway Project (original Mineral Resource: 155Mt @ 0.73g/t Au, 0.38% Cu).

A drilling programme is planned to test the strongest IP anomalies located within the Hazelbrook prospect area, as well as to test the geochemical targets at Hazelbrook, Hazelbrook North and the Milfor Prospect.

Once the specific hole sites are selected and access and site preparation is cleared with the landholder, application will be made to the NSW Resources Regulator of the NSW Government for drilling Activity Approval. Subject to approvals, the drilling is expected to commence during the second Quarter.




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