The Leo and Astra tenements are adjacent and lie on the western Cobar Basin margin approximately 45km south of Cobar. The inferred trace of the Thule fault runs through Astra with a NNW trend, and hosts historic mineral occurrences, Osterley Downs, HiCu, and the historic Owl prospect. EL8724 – Leo hosts the recently discovered JT Gossan Au-Pb-Zn prospect as well as several historic mineral occurrences.

JT Gossan Au-Pb-Zn prospect

 JT Gossan was discovered by PBIX in 2022 via surface geochemical sampling, RAB drilling and follow up RC drilling.

The RC drilling successfully identified Au-As-Pb-Zn mineralisation occurring in narrow disseminated and semi massive lenses associated with quartz veining that correlate with a series of parallel, northwest trending geochemical anomalies that are open for over 800m strike. The lenses occur as steeply-dipping, continuous zones of Au-As-Pb-Zn mineralisation with the highest-grade gold associated with sulphide veins or breccia-fill. Assay results from RC drilling returned multiple >1g/t gold results with a maxima of 6.53g/t Au.

The discovery open along strike and at depth and PBIX is continuing to assess the greater JT Gossan area which contains numerous historic prospects to delineate and prioritise future drill targets across the prospect.