OD6 Metals Limited (ASX: OD6) has announced a proposed acquisition of the Historic Gulf Creek Copper Project—a high-grade volcanogenic massive sulphide (VMS) deposit located near the town of Barraba in New South Wales.
The Gulf Creek Project is a historic high-grade Copper–Zinc, volcanogenic massive sulphide (VMS) style deposit that was mined from underground over 100 years ago (1896-1912) to +100m vertical depth and +300m of strike. Historic records describe the mineralization as occurring within three parallel sulphide zones:
• Cornish Lode averaged 6% to 6.5% Cu
• Middle Lode averaged 3% to 3.5% Cu
• Big Lode averaged 2% to 2.5% Cu
Brett Hazelden, managing director, commented, “OD6 has reviewed over 40 potential new projects and is pleased to announce that we have entered into binding documentation to acquire the licence over the historic Gulf Creek Copper mine and its surrounding area, in NSW. The project was mined at the turn of the last century, between 1896 and 1912, with very high grades averaging between 2 to 6.5% Copper within the three main lodes. Exploration prospectivity is immense as there has been no modern exploration of substance since the mine closed, with only two drill holes completed more than 60 years ago.”
Historic workings at the Gulf Creek Project will form the basis of initial exploration, the last drilling being two holes, which were drilled in the 1960s. The project has seen very little modern exploration and there are numerous untested targets as well as potential for a larger and more expansive high-grade Cu–Zn system with multiple repeat structures.
The exploration licence, EL8492, covers an area of 2,375ha and is located near the town of Barraba, approximately 400km by road to the port of Newcastle and 550km north of Sydney. The project geology sits along the Peel Fault and encompasses the historic Gulf Creek and Murchison copper mines.
Strong near-term catalysts with exploration to commence imminently – fully permitted to drill Phase 1 programme around the historical workings.
To find out more, please visit www.od6metals.com.au
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