Corella has made a strategic move into Western Australia’s emerging West Arunta province, signing a binding agreement to acquire a 75% interest in the Chobe Project from Caprice Resources. The project spans 8 granted tenements and 7 tenement applications, positioning Corella across a huge landholding in a region gaining attention for niobium, rare earths and IOCG mineral deposits.
The Tenements cover an area of prospective ground of over 2,000 km2 giving Corella the ability to strategically target exploration based on the success of the neighbouring projects.
The Company’s Chairman, Philip Re said…
The Chobe Project provides exposure to a commanding land position, representing the third largest ASX-listed holding in the region, as we progress exploration activities within the Gibson Desert, working closely with the Kiwirrkurra Traditional Owners. This is a large, underexplored land package and we will move quickly with a disciplined, targeted exploration program to generate high-quality drill targets and drive value.”
The region contains a series of listric, north dipping reverse faults (thrusts) which have brought the Aileron Province basement to the surface. Part of the area acquired covers the ‘Central Thrust’ (image above) area just south of the WA1 and ENR projects. The Tenements represent an area that remains underexplored, with limited historical exploration through copper and gold exploration targeting IOCG and sedimentary deposits of copper and gold.
