Is the undrilled Great Western gold target a company maker? Strickland is about to find out
The Great Western gold prospect – a priority target in Strickland’s upcoming exploration blitz – is looking even more attractive following completion of a key survey.
The completely undrilled Great Western prospect – 5km west of the Horse Well gold resource – was interpreted to be in the flexure of a regional granite body, which Strickland says is a good structural setting for large, high-grade orogenic gold deposits.
It is also defined by a magnetic high measuring 1.5km in diameter, a gravity low, and significant surface geochemical anomalism with a length of 2.4km, including gold-cobalt-molybdenum anomalism at surface.
Having a mag high, gravity low and low grade mineralisation at surface coincide over the same large scale target — in the right rocks — makes Great Western tremendously compelling.
Great Western was masked from previous explorers by transported cover, so no drilling has occurred within proximity of the magnetic feature.
Its attractiveness has now received further support from the 2D induced polarisation survey, which highlighted a 500m wide positive chargeability feature that coincides with the peak magnetic anomaly.
Chief executive officer Andrew Bray said this was a “highly encouraging result given the type of mineralisation being targeted”.
“The addition of this chargeable feature makes Great Western a very compelling exploration drill target potentially representing a large-scale mineral system,” he added.
The increase in Great Western’s prospectivity is well timed, coming before the company seeks heritage clearance for its big drill campaign.
But it certainly isn’t the only target. Strickland is also looking to the drill the Cowza prospect, which is a lookalike of the Millrose project that it sold to Northern Star Resources (ASX:NST) for $61m.
Cowza appears to be in a very similar setting to Millrose with the same footwall gold mineralisation.
An extensive 40,000m early stage aircore drilling program is already underway with an initial focus on the Horse Well prospect, where the company is looking to define new shear zones and extend known shear zones further to the north.
This will move on to the Rabbit Well and Cowza prospects once heritage clearance is received.
Strickland expects to start the key heritage survey in early October to seek clearance for drilling over several prospects including Great Western, Rabbit Well and Cowza.
Besides the aircore drilling at Rabbit Well and Cowza, this will also pave the way for follow-up diamond drilling.
This article was developed in collaboration with Strickland Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.