OD6 acquires one of Australia’s highest-grade, historical copper mines

OD6 Metals (ASX: OD6) has announced the proposed acquisition of the Historic Gulf Creek copper project — a high grade volcanogenic massive sulphide (VMS) deposit in New South Wales.

Historic underground mining, over 100 years ago, for the high-grade copper-zinc VMS style deposit averaged 2-6.5% copper with +100m vertical and +300m strike open in multiple directions.

There is significant greenfield and brownfield exploration potential with over 3km of untested strike in the immediate mine-stratigraphy, and over 10km across the tenement, according to OD6.

OD6 managing director Brett Hazelden says OD6 reviewed over 40 potential new projects before entering into binding documentation to acquire the license over the historic Gulf Creek Copper mine and its surrounding area.

“The project was mined at the turn of the last century, between 1896 and 1912, with very high grades averaging between 2-6.5% copper within the three main lodes,” he said.

“Exploration prospectivity is immense as there has been no modern exploration of substance since the mine closed, with only two drill holes completed more than 60 years ago.

“We intend to apply modern exploration technologies and have identified the linkage between copper and magnetite in the shallow historic workings.

“Based on a review of a recent 2021 drone magnetic survey there is potential of over 10km of untested magnetic VMS target horizon.

“Copper is rapidly becoming a critical mineral in Australia, with NSW recently announcing a royalty deferral program for developing critical minerals projects.

“OD6 is committed to rapidly advancing this early-stage prospect and the opportunity to build a larger copper focused portfolio.”

A phase 1 program has been designed to test the area in and around the historical workings and is fully permitted to commence during early 2025.