World-Class IOCG Deposits and Potential Deposits in South Australia

The discovery of Olympic Dam in 1975 and, more recently, Prominent Hill in 2001 and Carrapateena in 2005 demonstrates the potential for world-class IOCG deposits in South Australia. Potential for further discovery of large IOCG mineral deposits in the Gawler Craton and the Curnamona Province is high because of continental-scale pervasive iron-rich alteration, crustal-scale structural preparation and unique magmatic-hydrothermal conditions. Recent exploration successes point to the effectiveness of new exploration tools and technologies to locate this style of mineralisation under cover. The gold endowment of these orebodies located in South Australia exceeds 75 Moz, with further discoveries to come. The lead time between discovery and development of the multi-million ounce Prominent Hill copper-gold mine in less than seven years demonstrates how quickly this style of deposit can be brought into production in South Australia. Clearly these long-life, multi- commodity IOCG deposits mines are an immediate exploration and future growth opportunity for the gold mining industry to replace ever depleting gold inventories.