SPENCER METALS PTY LTD
Australian unlisted company whose aim is to discover a Tier One copper gold deposit. It has assembled a unique tenement coverage in the highly prospective Olympic Domain Copper Gold belt in South Australia. The Company’s plan is to explore high priority targets on land first using conventional methods, to provide proof-of-concept and hence de-risk other high priority targets identified. The company is an emerging player in a proven copper-gold belt.
New frontier domains for metals. Global mining companies are accelerating the search for new domains hosting iron oxide-copper-gold deposits with exploration now being directed to extensions of major land-based mineral domains beneath shallow to deep cover. They are also reassessing previously explored areas. Target areas identified by Spencer Metals are located on land north of the Moonta-Wallaroo region and in the Spencer Gulf. These areas are an under-explored and poorly understood part of a premier copper-gold belt and offer excellent opportunity for major discovery. Compared with other copper belts in the world, an unusually big gap exists between the largest and second largest copper deposit in South Australia. Our aim is to discover a Tier One copper-gold deposit to fill this gap.
Iron-oxide-copper-gold deposits (“IOCG”) are a well-recognized class of mineral deposit. Much of the exploration for this class is focused in South Australia’s Gawler Craton, the planet’s premier and most fertile IOCG belt – a belt that includes the giant Olympic Dam copper-gold-uranium deposit, the major Prominent Hill copper-gold deposit, the Carrapateena copper-gold mine and other discoveries at Hillside, Khamsin, Oak Dam West (180m x 6% copper) and Emmie Bluff. Exploration for IOCG deposits in South Australia has focused exclusively on land, save for two exceptions, by Phelps Dodge in the 1990s, and BHP in 2001. Spencer Metals has assembled a strategic and contiguous package of five granted tenements (includes one Exploration Licence in which Spencer is earning 80%) on Yorke Peninsula and 14 applications covering 10,300 square kilometres.
New Developments. At Wokurna, our high priority on-land target area 40km NNE of Wallaroo, archival drilling on the western periphery intersected 5.3m x 1.67% copper and 3.5m x 1.79% copper and anomalous light rare earth metals (0.2-0.3% lanthanum and cerium over 20-30m) in highly prospective hydrothermally altered hematite-sulfide-breccia associated with the 1590 Ma Hiltaba thermal event and ancestral rift faulting. Of note, the main target area of 10km x 4km has no previous drilling. The Company’s strategy is to test Wokurna (airborne gravity gradiometry and drilling) first, to provide proof-of-concept and de-risk other high priority targets.
Strategic technical links, concept mining and infrastructure. Following the initial concept identified by Spencer Metals, a world-leading expert and proven ‘Tier One’ IOCG ore finder was commissioned to assess mineral prospectivity in the Spencer Gulf region. This expert subsequently identified 12 high priority target areas, including the Wokurna play. Spencer Metals also has links to the world’s best research institutions, and a Technical Advisory Panel of world-leading geoscientists which complements our careful and methodical approach to exploration. The project area is near good infrastructure, thus offering significant commercial advantage.
Copper belts and size of deposits.
Note THE GAP in South Australia between largest and next biggest copper deposit. Larger deposits remain to be found in South Australia
(Source: SA Department of State Development).
Dr Timothy F. McConachy
Tim is a geologist with over 30 years in the mineral and mining industry with an enviable track record of discovery in Australia, SE Asia and SW Pacific. Formerly Chief Geologist with Rio Tinto and Head of Seabed Ore Systems at CSIRO, Australia’s leading research agency. Co-founder of multinational deep sea exploration companies.
Mr Harvey J. Cook
Harvey is an accountant with over 30 years in a Melbourne-based chartered accounting business (as founding partner), broad-based accounting and taxation skills, specialized financial strategy advice to individuals and corporations within finance, resource and service industries. Co-founder of multinational deep sea exploration companies.
Acknowledgment of Country
Spencer Metals Pty Ltd acknowledges Aboriginal people as the First Nations Peoples of Australia. We recognise and respect the cultural connections as the Traditional Owners and occupants of the land and waters of Australia, and that they continue to make a unique and irreplaceable contribution to Australia.
Spencer Metals Pty Limited
Collins Place, Tower Four,
Level 18, 727 Collins Street,
Docklands, Victoria, 3008,
Place of Incorporation:
ACN 125 369 646