Great Western Exploration Limited: Drilling to Resume Testing a Large, Strong Conductor at Oval

Perth, Australia - Great Western Exploration Ltd. (ASX:GTE) is pleased to announce that drilling to test a highly promising off-hole conductor is set to start this week at its Oval copper-gold project in WA.

The target is one of two conductors defined by down-hole EM and interpreted to be highly prospective for massive sulphides

Key Points

- Drilling at the Oval copper-gold project in WA is planned to resume this week to test one of two large, strong down-hole electromagnetic (DHEM) conductors recently defined just 50m below the previously completed drill-hole

- Based on their geophysical signatures, both conductors are interpreted to be highly prospective for massive sulphide accumulation

- Previously reported pathfinder assay results identified multiple prospective horizons that are interpreted to be close to a potential major mineralisation system/s

- Great Western interprets the conductors' stratigraphic position within the Yerrida Basin Sequence represents a Volcanic Hosted Massive Sulphide (VHMS) copper-gold mineralisation system, similar to the DeGrussa Copper-Gold Deposit in the adjacent Bryah Basin

- The conductors are believed to be in a prime position for development of a major mineralisation system due to their location on the fertile, crustal- scale Ida Fault which is cross-cut at this location by a basindefining "growth fault"

- The Company plans to resume drilling by either extending or wedging from drill-hole 24GOVDD001 to test the interpreted off hole VHMS style conductor target

- Great Western has a strong cash position of $4.7 million (31 December 2024) and is well-funded for its forthcoming exploration programmes.

The target is a large, strong down-hole electromagnetic off-hole conductor defined just 50 metres below one of the drill-holes at Oval. The modelled conductor is interpreted to have high prospectivity for massive sulphide accumulation.

The Oval Copper-Gold Target is located within the Company's Yerrida North Project, located on the northern and western portions of the Yerrida Basin. The target is approximately 800km north-east of Perth and adjacent to the DeGrussa and Monty Copper-Gold Volcanic Hosted Massive Sulphide deposits (VHMS), shown in Figure 1*.

Assay and geophysics results returned for the first phase of drilling at the Oval Copper-Gold Target (GTE ASX Announcement 17 February 2025), have allowed Great Western to further define a large and prospective interpreted copper-gold mineralisation system. One of the potential zones of copper-gold metal accumulation is interpreted to be just 50 metres from the bottom of drill-hole 24GOVDD001 (see Figure 2*).

Interpretation of the data by the Company has concluded the potential mineralisation system identified is large and complex, with geophysical modelling of the DHEM survey data defining two large, strong conductors. The Company's geophysical consultants advised that both interpreted conductors' geophysical signature has high prospectivity for massive sulphide accumulation.

Interpretation of pathfinder elements suggested a position close to a copper-gold mineralisation system, with a similar signature to the nearby DeGrussa Copper- Gold Deposit. The Company interprets that the assay results support the high prospectivity of the modelled conductor and plans to recommence drilling to test the modelled off-hole conductor below 24GOVDD001 this week.

Multiple geological attributes support Great Western's view that the modelled conductor could represent a DeGrussaStyle VHMS mineralisation system. This view is summarised below:

- Both modelled DHEM conductors are highly conductive, and is interpreted to be highly prospective for massive sulphide accumulation;

- The drilled geological units and associated textures and alteration (the latter supported by geochemical analysis) supports a VHMS mineralisation environment;

- Mafic volcanic trace element data indicates a subduction-related formation setting prospective for VHMS mineralisation;

- VHMS pathfinder co-enrichment (Cu-Au-Bi-S-Zn-As-Pb-Ag-Te-Sb-In) on discrete sedimentary horizons in both drill-holes indicates multiple possible fallout zones from adjacent VHMS "black smokers";

- The volcanic and sedimentary rocks intersected are interpreted to be part of the Killara Formation, where previous work indicating this package is the stratigraphic equivalent of the DeGrussa Formation (Hawke, 2016), host to the DeGrussa Copper-Gold VHMS Deposit;

- Airborne gradiometry gravity highs (Figure 4*) are coincident with the DHEM modelled conductors;

- Position of the Oval target on the crustal scale fertile Ida Fault, that is intersected by a basin defining "growth fault" (Figure 1*), is regarded as a favourable position to produce a VHMS mineralisation system; and

- Position of Oval within an east-west intrusive corridor, a potential zone of weakened crust for focused metal accumulation within the Killara Formation.
Forward Programme

Drilling to test the off-hole conductor below 24GOVDD001 is anticipated to recommence this week, by either extending or wedging from this drill-hole. The Company anticipates drilling of Oval South, Sumo Niobium, and the Juggernaut Copper-Gold Targets will commence as soon as possible after completion of this second phase of drilling at Oval.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/N9G0M996

About Great Western Exploration Limited:

Great Western Exploration (ASX:GTE) is an explorer with a world class, large land position in prolific regions of Western Australia. Great Western's tenements have been under or virtually unexplored. Numerous work programmes across multiple projects are underway and the Company is well-funded with a tight capital structure, providing leverage to exploration success.

Source:
Great Western Exploration Limited

Contact:

Shane Pike Managing Director Great Western Exploration Limited Tel: 08 6311 2852 Email: enquiries@greatwestex.com.au Paul Armstrong Investor and Media Relations Read Corporate Email: paul@readcorporate.com.au