Project 3: Cobalt Cave

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

Project NameLake Gairdner
Ownership100% Cartwheel Resources Pty.
LocationLake Gardner, South Australia
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 140km from Port Augusta
AccessibilityYear-round access enables cost-effective and continuous exploration.
ESG commitment??
Highlights
Zoned for restaurants and retail
Ample customer parking
Traffic-heavy location

Type: Commercial

Project Summary

Lake Gairdner is a 5,534 km² IOCG exploration project in South Australia’s Gawler Craton, identified using the same systematic lineament analysis that discovered Carrapateena.
The target is defined by multi-kilometer magnetic-gravity anomalies with geophysical characteristics consistent with Olympic Dam-style mineralization.
Systematic drilling is underway to test depth extensions and strike continuity across this significant undeveloped opportunity in a proven copper-gold district. Recent drilling has returned significant copper-gold intercepts including

Geology & Targets

Geological Setting

The Lake Gairdner project is located in South Australia’s Gawler Craton, approximately 150 kilometers west of the Olympic Dam mine and 250 kilometers northwest of Port Augusta. Spanning 5,534 km², the project sits within one of the world’s most significant mineral provinces—formed by the planet’s largest known felsic volcanic eruption 1.6 billion years ago, the same geological event that created the Olympic Dam and Carrapateena deposits.

Mineralized Corridor

The Gawler Craton hosts some of Australia’s most valuable mineral discoveries, with the region producing copper, gold, uranium, and rare earth elements from world-class deposits. Lake Gairdner represents a large polymetallic IOCG system with confirmed mineralization and multiple high-priority exploration targets identified through systematic lineament analysis—the same methodology that discovered Carrapateena. The project benefits from proximity to established mining infrastructure, including the sealed Eyre Highway providing year-round access, and Port Augusta serving as a regional logistics hub with rail connections to Adelaide and deep-water port facilities.

Target Model

The project’s location within a proven mining district provides access to experienced mining professionals, established supply chains, and supportive regulatory frameworks. Regional infrastructure includes reliable power transmission networks, water resources, and accommodation facilities in nearby towns including Woomera and Roxby Downs.

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

Initial Discovery (Complete)

Previous drilling completed in EL6548
Exceptional high-grade intercepts confirmed:
KD003: 4.82m @ 12.6 g/t Au (plus 4.2m @ 3.5 g/t Au, 2.3m @ 2.2 g/t Au)
KD005: 6.85m @ 10.2 g/t Au
Geological modeling developed for depth targeting

Phase 02

Geological Modeling (In Progress)

3D geological modeling to locate primary gold source
Target depth: 2,000-3,000m beneath basalt dome structures
Integration of structural analysis and geophysical data
Identification of deep drilling targets

Phase 03

Deep Target Drilling (Planned)

Strategic deep drilling program to test mother lode source
Advanced geophysical surveys to refine drill targets
Systematic testing of basalt dome-hosted gold systems
Multiple drill holes to define extent of primary mineralization

Phase 04

Resource Development (Future)

Resource estimation from deep drilling results
Preliminary economic assessment
Metallurgical test work for gold recovery optimization
Infrastructure and development planning

Exploration

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