Southeastern Australia Rich in Copper and Gold Deposits
A significant discovery has been made in southeastern Australia, revealing rich deposits of copper and gold. The finding comes from a 'deep dive' project that examined over 300,000 square kilometers across South Australia, New South Wales, Victoria, and Tasmania.
The Delamerian Project, led by Geoscience Australia's Chris Lewis, crunched data from millions of geochemical points, aerial and ground surveys, and five kilometers of drilling. The results show that the Delamarian region is not a single mineral province but a series of distinct metallogenic belts formed during episodes of tectonic evolution.
Copper prices have surged to all-time highs due to global supply constraints and demand for the energy transition, electrification, and grid upgrades. Gold prices have also been strong due to safe-haven demand and central bank buying.
The project's findings are expected to give exploration companies confidence to narrow down potential deposits and identify opportunities in a net-zero future.