Underexplored Greenstone Belt
Cosmo Newbery is one of the few remaining underexplored greenstone belts in Western Australia. 3D Resources Limited holds the major part of this greenstone belt under granted exploration licenses, and exploration applications covering an area in excess of 470km2. The significance of the Cosmo Newbery project is that it lies in a region that has generated major gold deposits. To the east is the major Yarmarna Greenstone belt has generated the Gruyere discovery with 6.2Million ounces in resources announced to date, and to the west the Laverton greenstone belt that has had a history of production of around 12 million ounces of gold.
Historic High Grade Gold Production
Much of the greenstone belt is hidden under aeolian sand cover but can be seen from airborne geophysical surveys to be over 45km long and 3-11km wide. Some areas of the greenstone belt in the immediate vicinity of the Cosmo Newbery settlement are exposed and generated some historic high grade gold production with ore transported 95km to the Laverton Battery. So this enhances the prospectivity as it is showing that the greenstone belt is mineralised.
Part of the reason why this area remains largely unexplored is that it lies on an Aboriginal Reserve where access requires special permitting. In 2017 3D Resources Limited acquired access to do some preliminary reconnaissance work but later that year the Federal Courts ordered two native title groups claiming this area to merge under a single Prescribed Body Corporate. A new body was formed in September 2019 and official drafts of an Exploration Access agreement as a basis for initiating negotiation was received in May 2020. This creates the opportunity to explore this very exciting area and this warrants a major new initiative for the company.
Detailed Airborne Magnetics
In 2019 the company undertook a very detailed analysis of newly acquired airborne magnetic data in order to prepare for exploration to restart at Cosmo Newbery. The analysis pointed out that there were strong similarities between the geological characteristics of the Gruyere deposit and their interpreted geology of Cosmo Newbery. The analysis also highlighted a series of structural targets and areas of geological interest based on their interpretation of the geology. These are outlined by the adjacent map.