Closing in On a New Gold Discovery.
Great Western Exploration Ltd (ASX Code: GTE) is an ASX listed company incorporated 2007 based in Western Australia.
The Company has identified a 9km gold trend at its Yandal West project that is located within the world class Yandal gold belt 55km along strike to the north of Bronzewing (3.5 Moz) and 60 km south of Jundee (5 Moz).
The Company is also focusing on copper, cobalt and gold mineralisation in the under explored Proterozoic Basins located in the norther Yilgarn. Proterozoic basins are the source of 80% of the worlds metals and host the some of the largest deposits on the planet.
The Yandal West project is located within the world class Yandal gold belt 55km along strike to the north of Bronzewing (3.5 Moz) and 60 km south of Jundee (5 Moz). The Company has delineated a robust, very well-defined gold trend at least 9 km in length and approximately 2 km in width with peak values of 473, 412 and 207 ppb Au.
The geophysical interpretation by Newexco Consultants, anomalous soil geochemistry and geological field observations provide compelling evidence of a significant structural setting with the potential to host a large gold system. The aeromagnetic interpretation indicates a major shear that has significant deviation in the central area. It is also interpreted that the deviation is caused by a possible deep-seated intrusion. The 9km long gold-in-soil trend occurs along the entire length of this major shear and there are geological observations of veining and shearing also along this trend.
The joint aeromagnetic and geochemical interpretation confirms the Project as being highly prospective for gold. This further illustrates why the Company believes the Yandal West is developing into one of the most exciting greenfield gold exploration projects in Australia.
The Company is one of the largest landholders in the Yerrida Basin with approximately 2,600 km2 of Proterozoic terrain it believes is prospective for copper, cobalt, lead, zinc, nickel, gold and vanadium.
Sandfire Resources NL, the Company that found the Degrussa and Monty copper deposits located 25km to the north, are exploring the Great Western’s northern Yerrida tenements while the company retains 100% ownership of its southern tenements comprising of approximately 965 km2 area.
The Sandfire Farm-In is a strong endorsement of the Project’s VMS potential and frees up Company’s resources to focus on its southern Yerrida area.
The Fairbairn project area is located approximately 170 kilometres north of Wiluna and is situated on the Jenkins-Goodin Fault Zone along strike from the Degrussa copper deposit. The Company believes this prospect is prospective for sedimentary hosted copper-cobalt, Proterozoic copper (porphyry and VMS) and Proterozoic gold.
The Company has greatly expanded the project to 1,377 km2 following a positive in-house review of the historical data that has identified a promising conceptual model for copper-cobalt mineralisation. The company thinks that Fairbairn has the potential to not only be a game changer for the company but also change the perception of the North Yilgarn district much the same way the Nova discovery changed the perception of the Fraser Range region.