Exploration Licence EL6335 “Billa Kalina” lies approximately 60km northeast of the Prominent Hill copper-gold mine within the Olympic Copper-Gold Province.  EL6335 covers coincident and offset gravity and magnetic anomalies with a major NW/SE trending crustal structure running adjacent to the gravity anomaly.

SER won EL6335 in a competitive process following BHP’s announcement of a significant IOCG discovery at Oak Dam West. EL6335 lies to the east of the “Explorer Challenge” competition under which OZ Minerals awarded AUD$1m in prize money for innovative ideas to discover copper-gold deposits in this part of the Olympic Copper-Gold Province.

Location of EL6335 within the Olympic Cu-Au Province

The gravity and magnetic anomalies at EL6335 are not new. In fact, the anomalies were drill tested with two holes in 1977-78 by Newmont. The historic holes, SR11 (maximum depth 103.9m) and SR12 (399m), targeted the anomalies but failed to reach basement and explain the anomalous responses. The source of the geophysical anomalies remains unknown and there has been no further drilling within EL6335.

The key geophysical anomalies in this region of the northeastern Gawler Craton are mostly held by major companies such as BHP, OZ Minerals and FMG.

RTP Magnetics image of northeastern Gawler Craton showing major land holdings and key anomalies

SER has designed and commissioned an infill gravity survey to define the highest priority drill target which we intend to test with a single deep drill hole. The gravity survey will be conducted during 2019.

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