OD6 Metals (ASX: OD6) has received promising results from preliminary geophysical inversion modelling of drone magnetic data at its recently acquired Gulf Creek VMS Deposit in NSW.
Highlights:
- Geophysical modelling has identified multiple, high priority, walk up targets - and highlights the potential for extensional and repeat high-grade VMS structures at Gulf Creek
- Historic Gulf Creek mine workings are coincident with a highly-magnetic core >100m long from surface to depths >250m
- Big Bend Target – very high magnetism & coincident IP chargeability from near surface to depths >550m
- NW Target – intense magnetism over 400m x 80m modelled from near-surface to depths >400m
- Deep Magnetic Target – a large body magnetic body >650 x 350m footprint at depth
- Further field work, sampling and planning is underway with Phase 1 drilling planned next quarter
“Today’s geophysical results underline the significant, underexplored potential at scale, which exists across the historic Gulf Creek mine area,” Managing Director, Brett Hazelden, said.
“Gulf Creek has a strong magnetic association with high-grade copper in the massive magnetite-sulphide unit. Airborne magnetic surveys can reliably detect significant accumulations of magnetic material sub-surface and indicates compelling targets exist. As such OD6 is finalising the Phase 1 drill program scheduled to commence early next quarter.
“The modelling is an example of the new technologies that OD6 is bringing to bear on the historic Gulf Creek Mine and we look forward to the deploying similar geophysical modelling across the regional land package to drive high priority target generation."
Two mineralisation styles associated with high-grade copper have been identified to date at Gulf Creek. One of these is a massive magnetite-sulphide unit with samples assaying up to 6.5% copper.
As such, magnetic modelling can assist with locating sub-surface potential accumulations of one of the two mineralisation styles noted to date. A massive sulphide unit (with low-magnetism) is also represented in the Gulf Creek system, but cannot be directly detected with magnetic surveys. The magnetic modelling presented is geophysical technique used to infer the shape, size and position of sub-surface magnetic mineral bearing rocks based on an above-ground survey.
