The two deposits comprise a total of 128km2, with EL 5302 spans 85km2 covering Eastern section of the Proterozoic Peake and Denison Inliers and adjacent Mesozoic and younger sediments which overlie the Proterozoic basement.
EL 5303 ranges over an area of 43km2 within the Olympic Dam District and is located about 35km south of Roxby Downs.
GB Energy is intending to explore Iron Oxide Copper Gold (Uranium) (IOCG(U)) mineralization related to coincident gravity-magnetic anomalies in the crystalline basement returning complementary properties as that in nearby Olympic Dam and Prominent Hill deposits.
Following the developments, the company owns a total of 2,000km2 of prospective ground targeting IOCG(U) mineralization and sedimentary uranium within South Australia.
Currently, the miner is planning to conduct field geochemical – geophysical surveys to identify and refine targets in the project areas with follow-up drill testing of high priority targets.
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