Project 4: Carrapateena

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

Project Name	Carrapateena
Ownership	BHP
Explorer	100% Cartwheel Resources Pty.
Location	Carrapateena, Victoria
Size	X KM2
Mineralization	Iron oxide copper-gold (IOCG) Uranium, Rare Earths
Mineralized Corridor	X km x Y km
Total Drilling	X km (Y holes)
Infrastructure	All-season road access, power
Accessibility	Year-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

Carrapateena is a world-class IOCG deposit discovered by Cartwheel in June 2005 in South Australia’s Gawler Craton, located on the west coast of Lake Torrens.
Following discovery, Teck Cominco conducted the drilling program. The property was sold to OZ Minerals Limited, who developed it into an operating mine. In April 2023, BHP acquired Carrapateena, validating its Tier 1 status.

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Geology & Discovery

Deposit Characteristics

Iron oxide copper-gold (IOCG) deposit with uranium and rare earth elements hosted in hematite ore at approximately 450 meters below surface.
The deposit exhibits hallmark features of Olympic Dam-style systems: strong magnetic anomalies, extensive hydrothermal alteration, and association with regional-scale structural corridors formed 1.6 billion years ago.

Discovery Results

2 drill holes to 650m depth

189 meters of high-grade mineralization intersected

14.5% ore intercept in discovery holes

Resource: 470Mt @ 1.0% Cu, 0.3 g/t Au, 350ppm U₃O₈

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.

Discovery Impact & Legacy

Exploration Efficiency

Discovery achieved through systematic geological analysis and strategic targeting of IOCG systems, demonstrating exceptional drill hole efficiency and validated methodology.

Development Pathway

Teck Cominco: Initial drilling program

OZ Minerals: Mine development and operations

BHP (2023): Acquisition confirming Tier 1 status

Significance

The discovery established the team’s credibility in identifying major deposits that attract investment from leading mining companies, proving the IOCG targeting approach in the Gawler Craton.

Exploration

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