Evelyn Dam is 100% owned by Stelar Metals and is a large Olympic Dam style target that provides immediate drill-ready targets.
Until 2018, Evelyn Dam was the largest un-drilled gravity anomaly (+8mGal) on the Stuart Shelf. In joint-venture with Rio Tinto, one vertical hole was completed to 735m which intersected Meso-Proterozoic Gawler Range Volcanic (GRV) basement at 430m. Various intensities of alteration with haematite, chlorite, sericite and/or carbonate were noted in the drill logs within the GRV intersected below a breccia unconformity with the overlying Pandurra Sandstone. CSA Global and Rio Tinto consider these observations as consistent with distal-facies of IOCG alteration. The reddening of the rocks with haematite is a classic alteration-facies often dubbed “Red Rock Alteration”. Within the Pandurra Sandstone, visible native copper was reported in reduced zone.
Interrogation of the 3D gravity modelling by Stelar demonstrates the single vertical drill hole did not adequately test the gravity anomaly and it is encouraged by the haematite-sericite-chlorite alteration and the presence of phengite, traces of native-copper and flourite veining which are considered indicative of a distal IOCG system. Deeper, angled holes from previously cleared drill sites are planned.