Geophysical and Geochemical Surveys Commenced at Gulf Creek
Released
Released
Announcement PDF
ASX Announcement
8 January 2025
ASX: OD6
Geophysical and Geochemical Surveys
Commenced at Gulf Creek Copper
OD6 Metals Limited (OD6 or the Company) is pleased to advise that a ground-based
electromagnetic geophysics and a surface geochemistry survey has commenced at the Gulf
Creek Copper VMS Project in New South Wales.
Highlights:
• Gulf Creek geophysical survey commenced to identify accumulations of conductive massive
sulphide material
• The electromagnetic (conductivity) survey is designed to complement and expand on existing magnetic
geophysical modelling that has identified multiple, high priority extensional and repeat targets across
the tenure.
• Geochemical Soil sampling has also commenced - with the aim to identify anomalous elements and
pathway finder elements that can be indicative of deeper mineralisation concentrations
• Both Geophysical and geochemical programs will target the old workings at Gulf Creek - plus the
extended Phase 2 target areas of Big Bend, Western, Eastern and North Western
• Phase 1 drilling scheduled this quarter
Brett Hazelden, Managing Director, commented:
“OD6 has hit the ground running in 2025 at Gulf Creek.
This new geophysical survey is being undertaken to identify volumes of potentially conductive massive sulphides to
complement the areas of already identified strong magnetics that potentially contain high-grade copper associated
with massive magnetite-sulphide mineralisation. The work is aimed at identifying high priority drill targets with
Phase 1 drilling set to commence this quarter.
We are also completing a surface geochemical soil sampling campaign across the same area to further identify
anomalous element assays that can help identify and point to further mineralisation concentrations. “
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GULF CREEK COPPER PROJECT MINERALISATION
Two mineralisation styles associated with high-grade copper have been identified to date at Gulf Creek. It is
notable that both units returned high-grade copper mineralisation -refer ASX release 6 November 2024
•
Massive Sulphide – which is likely conductive (refer Figure 1)
•
Massive Magnetite Sulphide – which is magnetic (refer Figure 2)
In fresh rock samples from the massive units, the base metal minerals observed included chalcopyrite (CuFeS2)
and sphalerite (ZnS) along with gangue minerals of magnetite (Fe 3O4) and pyrite (FeS2) with minor amounts of
quartz and barite.
Each mineralisation style generally has its own discrete geophysical and geochemical characteristics that can be
exploited by modern day exploration techniques to identify and target priority areas for drilling.
Figure 1: GC240907 massive sulphide with pyrite-chalcopyrite-sphalerite grading 0.85% Cu, 1.2% Zn.
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Figure 2: GC240905 - massive magnetite and chalcopyrite grading 6.49% Cu, 2.1% Zn, 28.9% Fe,
441ppm Co, 1.66g/t Ag
NEW GEOPHYSICS SURVEY
The Company has already identified multiple potential massive magnetic sulphide mineralisation targets
utilising geophysical inversion modelling of drone magnetic data at Gulf Creek – refer ASX release 14 November
2024.
To complement this data and the associated targets OD6 is now undertaking an electromagnetic geophysical
survey to identify conductors, which are potential accumulations of massive sulphide mineralisation. This is
targeting around the old workings at Gulf Creek plus the extended Phase 2 target areas of Big Bend, Western,
Eastern and North Western extensions.
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GAP Geophysics has been engaged to complete a Fluxgate Fixed Loop Electromagnetics (FLEM) survey as
outlined in Figure 3 below. Four transmission loops are to be located to the northeast and southwest of the main
target zones, with receiver stations located 50m apart along NE-SW 200m spaced lines. Results are expected to
be available in late January or early February.
Figure 3: Plan view showing the location of the multiple target areas overlain by the planed
geophysical, geochemical and proposed drilling locations
GEOCHEMICAL SURVEY
Geochemical Soil sampling is also being undertaken with the aim to identify anomalous copper-zinc and
pathfinder elements that can be indicative of mineralisation concentrations at depth. The soil sampling has been
planned on NE-SW lines 100 metres apart with samples collected every 50m along the lines.
Soil sampling locations are shown in Figure 3.
Results are expected to be available in February.
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LOOKING FORWARD
The Company is currently preparing forward work programmes including:
•
Tenure Transfer process expected to be complete this quarter.
•
FLEM Geophysical results.
•
Surface geochemistry results.
•
Field reconnaissance and further sampling planned this quarter.
•
Integration of historic data and information into the geological database
•
Phase 1 Drilling to commence this quarter.
•
First drill assay results from Phase 1 drilling program at Gulf Creek.
Forward Looking Statements
Certain information in this document refers to the intentions of OD6 Metals, however these are not intended to
be forecasts, forward looking statements, or statements about the future matters for the purposes of the
Corporations Act or any other applicable law. Statements regarding plans with respect to OD6 Metals projects
are forward looking statements and can generally be identified by the use of words such as ‘project’, ‘foresee’,
‘plan’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’ or similar expressions. There
can be no assurance that the OD6 Metals plans for its projects will proceed as expected and there can be no
assurance of future events which are subject to risk, uncertainties and other actions that may cause OD6 Metals
actual results, performance, or achievements to differ from those referred to in this document. While the
information contained in this document has been prepared in good faith, there can be given no assurance or
guarantee that the occurrence of these events referred to in the document will occur as contemplated.
Accordingly, to the maximum extent permitted by law, OD6 Metals and any of its affiliates and their directors,
officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited,
contractual, tortuous, statutory or otherwise, in respect of, the accuracy, reliability or completeness of the
information in this document, or likelihood of fulfilment of any forward-looking statement or any event or
results expressed or implied in any forward-looking statement; and do not make any representation or warranty,
express or implied, as to the accuracy, reliability or completeness of the information in this document, or
likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any
forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements
(including, without limitation, liability for negligence).
No new information
The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted
from the Company’s ASX announcements dated 18 July 2024. OD6 confirms that it is not aware of any new
information or data that materially affects the information included in the original announcement and that all
material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply.
Information that relates to historic mining at Gulf Creek, and the mineralised sample assay results is extracted
from the Company’s ASX announcements dated 30 October 2024 and 6 November 2024 respectively. OD6
confirms that it is not aware of any new information or data that materially affects the information included in
the original announcement and that all material assumptions and technical parameters underpinning the
exploration potential continue to apply.
This announcement has been authorised for release by the Board of OD6 Metals Limited
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About OD6 Metals
OD6 Metals is an Australian public company pursuing exploration and development opportunities within the critical minerals
sector, namely rare earths and copper. and favourable power and reagent costs.
Copper
The Company is also looking to advance the proposed acquisition of the Gulf Creek Copper-Zinc VMS Project located near
the town of Barraba in NSW, Australia.
Gulf Creek was mined at around the turn of the 20th century and was once regarded as the highest grade copper mine (2%
to 6.5% Cu) in NSW until its closure due to weak copper prices in 1912. Very little exploration has occurred at the project in
over 100 years, with OD6 aiming to apply modern day exploration technologies.
Mineralisation is associated with magnetite, with geophysics showing significant greenfields and brownfields exploration potential
exists with over >3km of untested strike in the immediate mine-stratigraphy, and over >10km across the tenement.
Rare Earth
OD6 Metals has successfully identified clay hosted rare earths at its 100% owned Splinter Rock and Grass Patch Projects
which are located in the Esperance-Goldfields region of Western Australia.
The Company released a Mineral Resource Estimate (MRE) for Splinter Rock in May 2024, confirming that the project hosts
the largest and highest-grade clay-hosted rare earths deposit in Australia with a Indicated Resource of 119Mt @ 1,632ppm
TREO and a Inferred Resource of 563Mt @ 1,275ppm TREO with an overall ratio of ~23% high-value Magnetic Rare Earths
(MagREE).
OD6 Metals believes that Splinter Rock has all the hallmarks of a world class rare earths project with a conceptual
development which utilises the large and high-grade Splinter Rock resource to support a long-life REE operation
supported by a low strip ratio
Corporate Directory
Managing Director
Mr Brett Hazelden
Non-Executive Chairman
Wayne Bramwell
Non-Executive Director
Dr Darren Holden
Non-Executive Director
Mr Piers Lewis
Non-Executive Director
Dr Mitch Loan
Financial Controller/ Joint Company Secretary
Mr Troy Cavanagh
Joint Company Secretary
Mr Joel Ives
Contact
Investor Relations
OD6 Metals Ltd
Lucas Robinson
ACN 654 839 602
Corporate Storytime
www.od6metals.com.au
lucas@corporatestorytime.com
Mail to: info@od6metals.com.au
Phone: +61 408 228 889
Phone: +61 8 6189 8515
Level 1, 50 Kings Park Road, West Perth, WA 6005
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