The Roxby Downs (EL 4906) and Horse Well (EL 4816) tenement applications cover approximately 522km² of the Olympic Dam Copper-Gold-Uranium Province of the Gawler Craton. The tenements are located approximately 30km southwest of the world class Olympic Dam Cu – Au - U mine and within kilometres, and adjacent to, known IOCG(U) mineralisation at the Acropolis, Acropolis West and Aphrodite prospects.
The projects are located on the eastern margin of the Gawler Craton within the Olympic Iron-Oxide-Copper-Gold (IOCG) Province. The Olympic IOCG Province is host to the world class Olympic Dam deposit, Prominent Hill, and recently discovered Carrapateena Prospect.
A number of detailed gravity surveys were undertaken by previous explorers to determine potential targets for IOCGU mineralisation. Initial wide-spaced gravity surveys were completed across most of the tenements. Regions of interest were then covered with detailed gravity surveys to accurately define target for drill testing.
The tenements have a number of anomalies which have yet to be adequately drill tested.
The Acropolis West prospect defined by gravity extends into EL 4906, although at depths in excess of 800m and with little apparent associated magnetic anomalism. If economic mineralisation is located at the Aphrodite or Horse Well prospects it may extend into EL 4816, while more subtle anomalies, which may prove to be due to mineralisation, may merit drill testing in their own right.