BILLA KALINA COPPER-GOLD PROJECT (SER 100%, SOUTH AUSTRALIA)

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.

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 completed a detailed ground gravity survey of over 1000 new ground gravity stations revealing a classic “bullseye” density anomaly of 3km x 2km. The density anomaly identified at Billa Kalina compares favourably with the gravity responses of known IOCG deposits on the Gawler Craton.

Bouguer Gravity Anomaly (2.67gm/cc), 0.2mGal contours

Gravity responses of known Gawler Craton IOCG deposits (after OZL)

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