Stelar Metals Ltd (ASX:SLB) has been granted exploration licences 6812 and 6824 from the South Australian Government to form the Gunson Copper Project, just two kilometres from the historical open-pit Mount Gunson Copper Mines.
The company believes Gunson is prospective for Zambian-style sediment-hosted copper deposits and Olympic Dam-style iron oxide copper-gold (IOCG) mineralisation.
This newest project is one of five prospective copper and zinc projects held by Stelar, having recently obtained the Baratta Copper Project in the Adelaide Fold Belt of South Australia.
Bolstered exploration portfolio
“The location of the Gunson Project within a couple of kilometres of the successful shallow open-cut copper mines such as Mount Gunson and Cattlegrid combined with its proximity to Coda Minerals’ copper exploration drilling programs at Elaine reinforce the potential of Stelar’s new Gunson Project,” Stelar Metals CEO Colin Skidmore said.
“Stelar looks forward to starting fieldwork on this tenement and will use modern high-resolution geophysics to define targets for future drill programs.
“Granting of Gunson follows our recent receipt of the Baratta Copper Project licence, and these projects have significantly bolstered our exploration portfolio.”
Stelar intends to explore for Zambian-style copper mineralisation within the Adelaidean sequences on the Pernatty Culmination of the project, and Olympic Dam-style IOCG mineralisation in the underlying Mesoproterozoic basement.
Initial work programs will include surface sampling and the collection of high-resolution geophysical datasets which will be used to generate drill targets.