Stelar has a right to acquire an ELA covering two areas, one neighbouring the historic Mount Gunson copper mine which has historical copper production prior to closure in 2006, and the other north of Island Lagoon.

The section of the ELA beside Mount Gunson may be prospective for extensions of the Mount Gunson mineralisation as well as mineralisation hosted in the Tapley Hill Formation.  Coda Minerals has published an JORC Resource for its copper-cobalt MG14 and Winabout deposits on the adjacent EL. DGO Gold has recently announced the discovery of significant copper mineralisation hosted in the Tapley Hill Formation on adjacent tenements.

Stelar believes there is significant potential for IOCG (Olympic Dam type) mineralisation hosted in the Mesoproterozoic basement under the Adelaidean within the Gunson ELA. This area is within the Olympic Metallogenic Domain, supporting the prospectivity of Stelar’s geophysical targets. This concept is also supported by the nearby Emmie Bluff prospect operated by Coda Minerals where IOCG alteration and minor mineralisation have been discovered.

This project is at an early stage and Stelar plans to advance exploration when the licence is granted to define targets for drilling.