SOUTH AUSTRALIA

Yongala Project

The Yongala Project spans 1,676 km² across five licences in the Peterborough region, approximately 190 km north-northeast of Adelaide. The project area is considered highly prospective for sedimentary copper-silver and alkaline intrusion-related rare earth element (REE) mineralisation.

Geology

Situated within the Adelaide Geosyncline, the project covers Neoproterozoic sedimentary sequences deformed during the Delamerian Orogeny. The area features large-scale breccias, diapiric evaporite intrusions (e.g., the Yongala Diapir), and lamprophyre and kimberlite dykes — indicators of deep-seated mineralising systems.

Historical Work

Previous exploration focused on diamonds, gold, and base metals, with rock chip assays up to 6.2% Cu, 0.33% Co, and 0.35% TREO. Drilling by CSR Limited in 1977 intersected 32 m @ 0.15% Cu and 0.25% Pb within oxidised zones showing malachite and azurite. More recent sampling by Rox 1 Pty Ltd confirmed copper grades up to 10.8% Cu and 57.1 g/t Ag, and REE anomalism up to 0.35% TREO, suggesting potential carbonatite-related mineralisation analogous to Olympio Metals’ nearby Eurelia Project.

Exploration Potential

Despite encouraging early results, historical work did not target sedimentary copper or REE systems.

The Company plans to undertake targeted drilling and geophysical surveys to test the continuity of mineralisation and define priority drill targets across under-explored areas.

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