The Bulla Park Project is located approximately 110km west of Cobar. It consists of two granted exploration licences and two exploration licence applications. The drill intersections to date indicate a substantial copper (silver) mineralised system hosted by Palaeozoic age sediments of the West Cobar Basin, demonstrating major previously unrecognised potential.
The best drill intersection from limited drilling to date, is 135m of 0.24% Cu, including 33m of 0.45% Cu, 4g/t Ag in drill hole 19CA002. Copper grades and thickness appear to be consistently increasing westwards.
Detailed gravity surveys over the central part of EL8642 were integrated with wide spaced public domain gravity data. The best drill intersections in the copper zone relate to a large area of 1.5km x 1.5km gravity high which probably reflects strong siderite and hematite alteration (high Fe) associated with the underlying copper mineralisation.
Drilling is proposed down dip and along strike to test the extension of the mineralised horizon.
A further diamond drill target is established at Mountain, 8km north of Bulla Park, where a similar gravity high occurs with some geochemical support.
Capital Raising Offer - Now Closed
West Cobar Metals Board is pleased to report that the “Capital Raising Offer” as defined in the “Prospectus” has been oversubscribed and therefore has raised the $5,500,000 sought by the “Offer”, and accordingly the “Offer” is now closed.
The company thanks the investors who have taken part in the offer and looks forward to approval by the ASX to commence trading on the ASX.