This targets haematite hosted iron oxide copper gold deposits and will cover 4,300 meters of diamond core drilling and delineation of targets using detailed ground based gravity and other geophysical surveys.
Wild Acre Metals inked a drilling deal for its Chaparra iron oxide copper gold project in Peru, it will also aim several projects with deep reverse circulation drilling totaling about 1,200 meters, comprising, the northern boundary of the western anomaly, magnetic gravity highs in the western and south eastern part and the central low zone.
The Chaparra project is situated approx, 560 kilometers south east of Lima within the Peruvian iron oxide copper gold belt.
The Mt Woods tenements owned by OZL shown in Figure 1 (see link at the bottom of the release) are highly prospective for Iron Oxide Copper Gold and Uranium (IOCG) similar to the adjacent Prominent Hill and Olympic Dam mines.
Surface work and photo interpretation has indicated a number of areas with strong iron alteration / weathering (probably after sulphides) as well as "red rock" alteration (hematite and potash) which is considered a good indicator of possible Iron Oxide Copper Gold (IOCG) mineralisation.