The Vulcan Project is centred on a polymetallic system with confirmed sulphide mineralisation defined by historical drilling, including intercepts of 27.2 m at 0.7% Cu, with higher-grade zones of 12.3 m at 1.2% Cu. These results demonstrate the presence of a coherent and continuous sulphide system rather than isolated occurrences.
Despite this, historical exploration did not include systematic gold assays. This creates a clear contrast within the dataset: a well-defined base metal system with an untested gold component. Given the geological setting and similarity to Mt Morgan–style systems, this represents a material gap in understanding the full mineral potential.
The current exploration approach is designed to address this directly by testing both sulphide continuity and the potential for gold-bearing mineralisation within the same structural and stratigraphic framework.
Tenure: 279 km² across EPM 26994 and EPM 27724
Commodity: Au–Cu–Zn–Pb–Ag
Setting: Volcanic–carbonate polymetallic system
Key Area: Silverwood district (Grieves Quarry focus)
Analogue: Mt Morgan–style VMS system with untested gold potential
Vulcan represents a preserved polymetallic system with geological characteristics consistent with major volcanic–carbonate deposits.
The presence of multiple targets across a continuous structural and stratigraphic framework suggests potential for a district-scale system rather than a single isolated deposit.
Importantly, while base metal sulphides are well defined, gold has not been systematically tested, introducing a new and unassessed value component.
Mineralisation is interpreted within a hybrid system combining VHMS-style sulphides and carbonate replacement processes, with evidence of an intrusion-related gold overprint.
The system is controlled by:
Reactive carbonate horizons
Structural corridors
Intrusive influence
The working thesis is:
Base metal sulphides define the primary system architecture
Gold mineralisation may be associated with a later intrusive overprint
Multiple mineralisation styles coexist within the same system
The district has not been systematically explored for gold
Drilling and Geological Data
GSQ diamond drilling defines sulphide geometry, thickness, and continuity at Grieves Quarry
Intercepts include 27.2 m at 0.7% Cu, including 12.3 m at 1.2% Cu
Thick, near-surface Zn–Cu–Pb–Ag sulphides confirmed
Mineralisation is suitable for modern EM and IP targeting
Stratigraphy and System Analogy
Geological architecture consistent with Mt Morgan–style volcanic–carbonate systems
Shared Silurian–Devonian stratigraphy and Triassic intrusions
Supports metallogenic continuity and system-scale interpretation
Targeting Framework
Mineralisation focused along carbonate units and structural corridors
EM and IP responses align with sulphide zones
Down-dip and along-strike extensions already defined
Critical Gap
Gold was not assayed historically
First-pass inclusion of Au introduces a new discovery vector across all drilling
Continuity and thickness of sulphide bodies at depth
Presence and distribution of gold within carbonate replacement zones
Relationship between base metal sulphides and intrusive gold overprint
Scale and repeatability across the broader system
Phase 1 Objective
Validate sulphide geometry and test for gold within the system.
Drill Strategy
Focus on Grieves Quarry down-dip and along-strike extensions
Test conductor-aligned sulphide zones
Target carbonate-hosted gold positions
Program Scale
4,000–6,000 m initial drilling
Designed to validate the model rather than maximise metres
EPMA 26994 granted with immediate drill access
EPM 27724 expands system-scale coverage
Excellent access via sealed roads and regional infrastructure
Existing mining and quarry footprint reduces mobilisation risk
Success is defined as:
Confirmation of sulphide continuity along conductors
Identification of meaningful thickness extensions
Detection of gold within carbonate-hosted zones
If achieved:
Follow-up drilling targets repeat structures across the tenure
Expansion of geophysical targeting across the broader system
Transition to district-scale exploration
Conceptual target: 0.8–1.0 Mt at 3–4% Zn with Cu, Ag and potential Au credits
Multiple targets distributed across the same structural and stratigraphic framework
System supports repeatable mineralisation rather than a single deposit
Drill confirmation of conductor-aligned sulphide continuity
Identification of gold-bearing carbonate replacement mineralisation
Demonstration of a repeatable system beyond a single occurrence
Exploration is at an early stage
No mineral resources have been defined
Conceptual targets are not JORC-compliant estimates
The key risk remains whether mineralisation achieves sufficient scale and continuity