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Black Mountain, M2 Exploration Target

The M2 Exploration Target is an Iron Oxide Copper Gold (IOCG) deposit with inherently favorable metallurgical characteristics. The target, located on the eastern flank of the Huntoon Valley consists of Mesozoic sediments and volcanics, where the mineralisation is associated with the contact with intermediate intrusives. The target was defined using ASTER spectral analysis, airborne and ground magnetics, induced polarisation (IP), soil and rock geochemistry and geological mapping.

In 2013 the company completed a 790 metre discovery level drill programme on M2. A total of nine reverse circulation holes were drilled, and some 1500 sample points were examined for copper, silver and gold. In 2014 a further 23 Reverse Circulation holes were drilled for a total of 4,252 metres. Drill angles ranged from -45° to vertical, and drill depths from 51.8 metres to 420.6 metres. The final quarter of 2014 saw the successful establishment at M2 of a maiden independent JORC compliant, Inferred Resource, containing 23,636 metric tonnes of Copper, and 16,000 ounces of Gold.

M2 is a potential planar structure, extending 2,134 metres south-southeast beneath the crest of Bass Mountain to the vicinity of the historic Smith Copper Mine. The Company considers that the source of the M2 and Smith Mine copper mineralistion is an epithermal plume located beneath the “Sharktooth” peak of Bass Mountain. Low grade, open-pittable copper-gold values at M2 are indicators of much higher grade and more consistent copper-gold oxide mineralisation at the intersection the vertical north-easterly Sharktooth structure and the Diorite-Dunlap hanging wall caprock. Great Western is in the process of devising a Phase 3 drilling programme to identify the core of the epithermal plume, and to extend the strike length of the 2014 Inferred Resource to the Sharktooth peak.