Australian Gold and Copper Ltd. reported that an application has been lodged for a new exploration licence (ELA6549) called `Ootha'. This new licence application area replaces the Derriwong licence, as Derriwong did not cover the area of elevated copper. A review of historic data led AGC's geologists to the recognition of an extensive, multipoint, 10km+ long, copper anomaly in rock chip anomaly.

The original sampling was done between 1977-1979 by Mines Exploration Pty Ltd. The historic sampling returned 44 samples out of 481 exceeding 0.10% Cu with maximum of copper of 0.36%. The rock chip sampling is confined to low level hilly outcrops that trend northeast. The primary source of copper is currently.

The copper anomaly strikes northwest, the same direction as AGC's 15km Boxdale to Carlisle Reefs gold trend 20km to the north (ASX AGC Boxdale delivers further near surface gold, 5 July 2022). This may imply the mineralisation event is controlled by a similar structure pattern, which subsequently leads to increased mineral prospectivity of both prospects. The copper at Ootha is hosted within a Siluro-devonian aged volcano-sedimentary basin, with deformed mudstones and volcaniclastic rocks.

A series of northwest trending structures associated with anticline/synclines forms are believed to control the anomalous trend. The world class CSA Mine near Cobar is an example of a basin hosted, structurally controlled copper deposit. Copper is typically chemically scavenged by oxidised iron and manganese in the regolith which is also likely at the Ootha target and with such consistent high concentrations (>0.10%) and spread across great distances demonstrates strong potential for a substantial primary copper source waiting to be found.

Roadside sampling and confirmation by pXRF analysis has already been undertaken to confirm the presence of the copper anomaly and validate the historic sampling data.