Mt McKellar is situated on the highly prospective Eastern Cobar Basin margin and shares  the same geological position that hosts Aurelia Metals’ (ASX:AMI) high grade Federation deposit. Mt McKellar shows many similar characteristics to this, and other Cobar deposits such as the Peak and nearby Mallee Bull.

Work by PBIX has included extensive surface geochemistry, RC and core drilling, IP, gravity and down hole EM surveys. The prospect displays strong IP chargeability anomalism coincident with a 1.8km long lead geochemical footprint and at least five distinct zones of drilled base-metal and/or gold mineralisation.

Prior to 2024, drilling had revealed very broad low-grade Pb-Zn mineralisation containing numerous narrower, high-grade zones that remain open in all directions.

RC drilling to the south of the Mt McKellar base metals mineralisation in 2024 discovered significant grades and extensive widths of Au-Cu mineralisation with assay results up to 38.1g/t Au and 1.49% Cu  that will be the focus of future work at the prospect.