Cobar
EL 8709 Cobar
Cobar-type Au-Cu (Pb-Zn)
- 100% owned EL 8709 Central Cobar
- Prospective for high-grade gold and base metal deposits
- Operating mills nearby with potential capacity for high grade ore feed
- Excellent local infrastructure and skilled workforce
- Low sovereign risk jurisdiction
The Central Cobar licence is located within the central sub-province of the Lachlan Fold Belt. It covers 24km of prospective strike length immediately adjacent to the Cobar Gold Field (~>7Moz equivalent). The project area is considered highly prospective for structurally controlled massive sulphide deposits (Cobar Style), and quartz-sulphide vein deposits.
Cobar Style deposits are typically high-grade precious and base-metal deposits. They have a steeply plunging “pipe-like” geometry with short strike lengths and persistent depth extent. Most sit within smaller displacement faults in proximity to first order faults such as the Rookery, Myrt and Buckwaroon Faults. LGM believes there is strong supporting evidence for the interpreted prospectivity of the tenement based on the current understanding of mineralising fluid sources, structural architecture, fluid pathways and depositional characteristics.
The tenement contains numerous untested late time electromagnetic (AEM) conductors, coincident with faults, aeromagnetic and induced polarisation targets; anomalous pathfinders in soil and rock chip samples including significant gold in surface lag samples; and magnetics indicate encouraging structural complexity and antiforms.
Exploration Rationale
- Close proximity to, and containing favourable host rock sequences
- Favourable fault structures coincident with anomalous geochemistry
- Magnetic anomalies and discontinuities indicate structural complexity
- Close proximity to major Au/Cu (Pb/Zn) deposits including Great Cobar, New Occidental, Peak, Perseverance, New Cobar and Chesney mines
- Tenement hosts structures along strike of the Langtons Prospect (ASX:AMI) that has RAB drilling intersections up to 2m @ 12 g/t Au.
- Within 2.6km of the operating Peak Gold Mine mill
- Depth of cover is shallow and regolith amenable to low cost exploration
- Low sovereign risk jurisdiction with highly skilled mining workforce
- Clear exploration strategy given current lack of systematic exploration over the tenement
