Project 1: Lake Gairdner

IOCG Copper-Gold-Uranium Target | Gawler Craton, South Australia

Project NameCarrapateena
OwnershipBHP
Explorer100% Cartwheel Resources Pty.
LocationCarrapateena, Victoria
SizeX KM2
MineralizationIron oxide copper-gold (IOCG) Uranium, Rare Earths
Mineralized CorridorX km x Y km
Total DrillingX km (Y holes)
InfrastructureAll-season road access, power
AccessibilityYear-round access enables cost-effective and
continuous exploration.
ESG commitment??
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Highlights
Zoned for restaurants and retail
Ample customer parking
Traffic-heavy location

Type: Commercial

Project Summary

Lake Gairdner is a 5,052 km² IOCG exploration project in South Australia’s Gawler Craton, identified using the same lineament analysis methodology that discovered Carrapateena.
Located approximately 140km northwest of Port Augusta, the project benefits from established regional infrastructure including year-round access via a 7km all-weather roadway across the lake and power line connectivity extending from Port Augusta.
Cartwheel Minerals holds 100% ownership and operates under an exploration agreement with the Gawler Range Aboriginal Corporation (GRAC) signed in July 2016, providing social license within this proven mining district.
The project sits within the same metallogenic province as Olympic Dam and Carrapateena—formed by the world’s largest felsic volcanic eruption 1.6 billion years ago. Sustainable processing technologies are planned, including hydrogen-based reduction and microwave processing methods.

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Geology & Targets

Geological Setting

The project exhibits multi-kilometer magnetic-gravity anomalies with geophysical characteristics consistent with Olympic Dam-style mineralization.

Mineralized Corridor

15 km x 27 km caldera with 16+ magnetic-gravity anomalies identified across the system. Each anomaly shows similar signatures to pre-discovery Carrapateena, representing district-scale exploration potential.

Target Model

The system targets IOCG copper-gold-uranium mineralization along with rare earths and critical metals (Potassium, Rubidium, Scandium) hosted within the caldera structure.

1.6 Billion Years Ago

GAWLER CRATON FORMATION
South Australia, part of Gondwanaland, experiences the world’s largest acid rock eruption—25,000 cubic kilometers creating the Gawler Craton with Lake Gairdner at its center

June 1997

LICENSE APPLICATION
Rudy Gomez applies for exploration licence on Lake Gairdner after CRA Exploration abandons their licence, recognizing the area’s potential

June 2005

CARRAPATEENA DISCOVERY
Rudy Gomez discovers Carrapateena copper-gold-uranium-REE deposit, subsequently acquired by BHP and developed into a major operating mine employing hundreds

2023

BREAKTHROUGH AT ANOMALY 1
After 26 years of seeking access, 2 drill holes at Anomaly 1 produce potassium, rare earth elements, and critical metals potentially

2024-2025

EXPLORATION PROGRAM
Exploration program planned to explore 16 anomalies.

Drilling Results & Exploration Potential

Phase 01

Target Definition (Complete)

Geophysical surveys completed across 5,052 km²
16+ magnetic-gravity anomalies identified
Targets prioritized based on Olympic Dam-style IOCG signatures

Phase 02

Discovery Drilling (In Progress)

CM002: 780m intercept of REE-critical metals from 200m depth
CM004: 879m intercept from 28m depth
Total 3,517 meters drilled to date
High-grade potassium, scandium, rubidium, neodymium confirmed

Phase 03

Phase 3: Systematic Testing (2025-2026)

Resource definition drilling on CM002 discovery
Step-out drilling to test depth extensions
Systematic testing of high-priority anomalies
Metallurgical test work for rare earth recovery optimization

Phase 04

Phase 4: Resource Development (Future)

Maiden resource estimate
Preliminary economic assessment
Processing technology development
Infrastructure and feasibility studies

Exploration

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