Orange East JV

The Orange East tenement, EL6181, near Orange NSW, spans the margin of the Ordovician Macquarie Arc and the Silurian-Devonian Hill End Trough.

The western part of the tenement contains one A-class Ordovician porphyry target with altered outcropping monzodiorites to monzonites with several historic gold workings.

The eastern portion of the tenement contains the Godolphin Fault with numerous historic copper-gold workings. Clancy is the first explorer to drill deeper than 50m in the area and to test under the old copper workings at the old Carangera copper mines. Significant alteration and sulphide minerals have been located in a system that is greater than 4 km long.

Identification of alteration minerals at microscopic scale suggests there are two alteration systems at Orange East. The first is thought to be related to a hitherto unidentified potassic intrusive which may be the source of a high-grade copper mineralization mined in the mid to late 1800’s.

The second style is thought to be gold related and hosted by the Godolphin Fault system. The project upside lies in the potential to host deposits such as the McPhillamys Project 18 km south southeast of the lease, which has a reported indicated and inferred resource of 91.94 million tonnes grading 1.00g/t Au and 0.07% Cu (2.96 Moz) at 0.3g/t gold cut-off.

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