Myall Creek Copper Gold Joint Venture (FMG earning-in)
The Myall Creek Copper Project is located at the southern end of the Gawler Craton in the Olympic Copper-Gold Province, home to the Olympic Dam, Prominent Hill, Carrapateena mines and the recent Oak Dam discovery (Fig. 1). The exploration licence captures a 15km strike length prospective for sediment hosted copper sulphides hosted in the basal units of the Tapley Hill Formation.
In 2019 Fortescue entered into a Farm-in and Joint Venture (FJV) covering Myall Creek which requires Fortescue to fund $1.5m in exploration including 1,500m of drilling over a five-year period. To date, FMG have entered into a Native Titel Agreement, completed a detailed airborne magnetic survey and a ground gravity survey.
Current activities are focused on the newly identified “Lincoln Gap” anomaly which straddles the tenement boundary of EL6140 (SER FJVA) and EL6043 (Fortescue) (approximately 50:50 split). Lincoln Gap is a ~1 mGal discrete, circular residual gravity anomaly with a ~1.4 x 1.4km footprint that is spatially adjacent (but not coincident) to a deep NW-trending long wavelength magnetic response to the SE. Further exploration by FMG may include further geophysics or drilling.
