Cauldron Energy (ASX: CXU) has received results of an independent geophysical report on the gravity survey conducted over the Ooloo Mine and Bluff Prospects at Cauldron’s Marree base metals project in South Australia.
The Ooloo gravity anomaly is a semi-vertical feature contrasting with surrounding shallow-dipping geology; an anomalous density zone with an extensive shell extending over 1 kilometre deep.
It is situated on a major trending fault that may link several prospects in the Marree region and is coincident with IP anomalies and high grade massive sulphide mineralisation in outcropping and historical workings.
Follow-up drilling is advised on the grounds that it shares many characteristics of a mineralised breccia system such as the copper-lead-zinc deposits found in the Zambian and Congolese copper belts, such as the Kipushi and Kabwe projects.
The results of the report confirms the gravity and IP anomalies at Marree have potential. Drill testing of the gravity and IP anomalies with one deep exploration hole is scheduled late this year or early 2104.
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