The Mt Jack Project consists of one granted exploration licence and is located approximately 70km north-east of Wilcannia.
Mt Jack shows an isolated strong bulls-eye magnetic signature, typical of classic ‘Cobar style’ mineralisation, in a complex structural setting with evidence of Cu/Au leakage from a previous drill hole into overlying barren rocks. This previous historic drill hole did not penetrate the barren cover rocks and failed to reach the modelled magnetic target.
Strong geochemical traces of Au and Cu [1m(0.29g/t Au,386ppm Cu)] – possibly leakage from a mineralised system in Winduck Group, beneath Mulga Downs unconformity.
Drilling is targeted at the modelled source of the magnetic anomaly, beneath the barren cover rocks.
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.