The Gawler Craton is a world-class mining district in South Australia and is endowed with over 100 million tonnes of copper and 110 million ounces of gold.
Copper Search’s Peake Project is made up of three areas and covers over 5,500 sq km giving the company a strong ground position in the district.
The Peake & Denison geological domain was recently recognised as equivalent to the copper-rich Cloncurry District in Queensland.
In 2022 Copper Search’s exploration team conducted a general review of all it’s projects, including The Peake Project. This review was done using a revised exploration strategy completed by the newly formed exploration team, that used a mineral systems approach and incorporated multiple big data sets, innovative peer-reviewed emerging techniques, and well- established conventional exploration methods. The team re-ranked all exploration targets across all of Copper Search’s tenements using the geological information from drilling results to date and the new geophysics survey data acquired in 2022.
The review concluded that the company should focus on the flagship Peake Project in the NE Gawler Craton which is prospective for large-scale copper (IOCG) deposits. The team identified over 20 shallow potential IOCG targets less than 500m deep and a further six deeper targets at the project. Further infill geophysics (IP, gravity, AMT and MT) surveys will be conducted to inform the final target ranking and refine drill collar locations. As a result of this review an extensive 6-month drilling program to commence in Q1, 2023
Copper Search is fully funded 2-year exploration plan with a cash position of $8.9 million at the quarter ended 30 June 2022.
Copper Search has commenced phase one of drilling with a four-hole diamond core program at the Company’s Peake Project in the Gawler Craton of South Australia. Drilling aims to identify large scale IOCG targets (Iron-Ore-Copper-Gold) deposit, with targets of similar scale potential to Prominent Hill and Carrapateena.
The AC23 drill target is along structure from recently identified IOCG style mineralisation at the Wills Prospect on neighbouring AIC Mines Limited tenements. Both the Wills prospect and AC23 target are positioned on the regional scale Karari shear zone. Importantly AC23 is positioned where the NE trending Karari shear intersects a NW trending structure. The intersection of large regional scale structures is a prime location for emplacement of an IOCG deposit. The 3.8 mGal gravity anomaly identified by Copper Search through detailed research and significant gravity station data acquisition at AC23 occupies the most likely place for emplacement of an IOCG deposit.
A six-hole reverse circulation (RC) drilling program at the Peake Project
testing the Paradise Dam Prospect (formerly Target AC23 & AC24) has been completed.