The co-funded drilling programme aims to test three large-scale magnetic, gravity and geochemistry targets with up to 1500m of diamond drilling in the northern portion of the Onlsow Cu-Au Project. The EIS allows GCX Metals to apply for a total refund of A$204,050 from up to 50% of incurred direct drilling costs, including mobilisation charges.

The company proposes to drill test the anomalies Coral Bug, Hammerhead and CT3. Drilling will be undertaken in order of priority, starting with Coral Bug, and will test up to three targets, subject to end-of-year shutdown.

Copper, gold, and IOCG geochemical indicators are associated with the targets are distal to the drill targets and interpreted to represent potential drift from the source through the cover sequence.

Results of a gravity survey along with existing magnetic data were utilised by Caldera Analytics, a geoscience machine learning consultancy, to generate IOCG prospectivity maps for the project. The maps, generated from deep learning models trained to recognise hydrothermal magnetite and hematite footprints of potential IOCG deposits have assisted the GCX Metals in ranking the exploration targets.

Of particular interest is the Coral Bug anomaly which returned the highest-ranked hydrothermal magnetite response from the machine learning model which encouragingly corresponded well with a moderate-high density gravity response.