Golden Deeps (ASX:GED) expands NSW territory on copper-gold trail

Golden Deeps has expanded its presence in the Lachlan Ford Belt with a binding agreement to earn an 80 per cent interest over four granted exploration licenses in the world class New South Wales copper-gold province.

The heads of agreement deal with privately held Acros Minerals and Crown Gold Resources will see Golden Deeps pay a little under $180,000 for previous exploration costs and earn the interest by spending $300k in three years.

The tenements lie across the boundary between the Siluro-Devonian Hill End Trough and its two million ounces of historic production and highly prospective porphyry copper-gold territory in the Rockley-Gulgong Volcanic Belt.

They add to Golden Deeps’ regional territory at Tuckers Hill, lying on the northern end of Vertex Minerals‘ 4.21Mt at 3.6 g/t Au Hill End gold resource, and at Havilah where drilling is underway to test a series of porphyry/volcanics hosted copper-gold targets.

Targets in the newly acquired tenements include extensions from those assets, with work so far indicating extensions of highly prospective rocks and high-grade gold trends.

Golden Deeps Chief Executive Jon Dugdale said the pact gave it access to extensions of mineralised volcanics and intrusives within the volcanic Belt

“This belt is highly prospective for major porphyry/volcanic hosted copper gold discoveries and is a similar setting to major deposits such as the world-class Cadia-Ridgeway mine,” he said.

“The Acros and Crown tenements also include extensions to the Hill End gold corridor which has produced over two million ounces of gold.

“We now look forward to immediately advancing geophysical programs to define drilling targets south and northwest of the Company’s Havilah Project, where drilling is currently testing copper-gold targets which continue under cover into the Acros and Crown ground.”

Next stage geophysics will include more detailed gravity, magnetic, and induced polarisation surveys focused on extensions of the Rockley-Gulgong belt to the north and south, targeting major copper-gold deposits under the shallow cover which has limited historic exploration.

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