West Cobar Metals Targets District-Scale Copper at Blind Freddie

West Cobar Metals Secures District-Scale Copper Position with High-Priority Blind Freddie Target

West Cobar Metals Limited (ASX: WC1) has announced a significant expansion of its Cobar Basin copper exploration footprint, following the granting of Exploration Licence EL9915. The West Cobar Metals Blind Freddie copper target in the Cobar Basin is now a central pillar of the company's strategy, consolidating WC1's position into a district-scale copper explorer. The company now holds approximately 1,090km² of tenure covering approximately 120km of strike along highly prospective Cobar stratigraphy.

The newly secured ground hosts the Blind Freddie prospect — a priority target featuring a greater than 2.5km copper-gold anomaly associated with a major structural corridor and a pronounced gravity high. Combined with the already-granted Lilyvale prospect (EL9912) and the existing Bulla Park deposit, WC1 now controls a suite of compelling, drill-ready targets across one of Australia's premier base metals provinces.

"The new licences, including EL9915, transform WC1 into a district-scale copper explorer in the Cobar Basin. Blind Freddie and Lilyvale both display the geological and geophysical characteristics associated with major Cobar-style mineral systems. With multiple priority targets now defined and exploration programs planned, we believe the Cobar West Project has the potential to evolve into a significant new copper exploration district." — Managing Director Matt Szwedzicki

A District Coming Into Focus: The Cobar West Project

The Cobar Basin is a well-established copper and polymetallic province in New South Wales, hosting significant producing and historical mines. WC1 is pursuing what it describes as a district-scale opportunity, anchored by the proven Bulla Park deposit and increasingly validated by newly defined targets across the broader tenement package.

The key elements of WC1's consolidated position are summarised below:

The Cobar West district is described as substantially underexplored, with historical exploration having limited effectiveness beneath shallow transported cover. The Bulla Park deposit itself lies beneath 60–120 metres of barren cover with only subtle surface expression — a characteristic WC1 views as demonstrating the potential for significant concealed mineralisation elsewhere across the project.

Blind Freddie: The New Priority Target

The West Cobar Metals Blind Freddie copper target in the Cobar Basin represents the most immediately compelling new addition to WC1's portfolio. Defined across EL9915, the prospect is characterised by:

• A coherent copper-gold anomaly extending more than 2.5km along a major interpreted structural corridor
• Association with a pronounced gravity gradient adjacent to a gravity high — a geophysical signature considered highly prospective for Cobar-style base metal mineralisation
• Widespread ferruginous alteration of siltstone-derived float, interpreted to reflect iron-rich chlorite alteration commonly associated with sulphide mineralisation in Cobar-style systems
• Partial concealment beneath younger Mulga Downs sediments, consistent with the concealed nature of mineralisation elsewhere in the district
• An interpreted geological host of steeply dipping and folded Winduck Group siltstones

Recent sampling by WC1, including field portable XRF (pXRF) confirmed by laboratory assay at ALS, has expanded the geochemical dataset. Copper anomalism is well-defined, and the results have been used to propose RAB drill collars targeting zones of strongest surface anomalism and the interpreted western fault margin.

In addition to copper, historical and recent sampling has identified anomalous gold values up to 0.27 g/t Au extending for 5km south-southwest of the main copper anomaly — representing a separate and additional exploration target to be followed up with systematic grid-based sampling.

Lilyvale: A Potentially Larger Analogue to Bulla Park

The Lilyvale prospect (EL9912) is generating considerable interest based on its geophysical profile. The gravity anomaly at Lilyvale is interpreted to be larger and more intense than the signature associated with the Bulla Park deposit — yet no drilling has yet tested it.

Key observations at Lilyvale include:

• A broad lead anomaly from rock chip and float sampling comparable to that observed at Bulla Park — a feature that at Bulla Park is spatially associated with copper-antimony-silver mineralisation
• Anomalous copper values from surface rock chip sampling, supporting prospectivity for concealed copper mineralisation
• Geological and geophysical characteristics interpreted as analogous to Bulla Park, with potential for a larger or higher-intensity mineralised source

Furthermore, WC1 is planning detailed ground gravity surveys over selected zones at Lilyvale to refine the geometry and intensity of the gravity highs ahead of drill testing — a logical step that mirrors the exploration methodology that led to the identification of Bulla Park mineralisation.

Understanding "Cobar-Style" Mineralisation: What Does It Mean for Investors?

What Is Cobar-Style Mineralisation?

Cobar-style mineral systems are stratabound and fault-controlled base metal and precious metal deposits that form within specific sedimentary and structural settings. They are typically hosted in folded, steeply dipping sedimentary sequences and are associated with dense alteration mineral assemblages — including siderite and barite — that generate distinctive geophysical signatures, particularly elevated gravity readings.

Why Does This Matter?

Cobar-style deposits can be large, high-grade, and polymetallic — carrying copper, antimony, silver, gold, lead, and zinc in varying combinations. Known examples in the region include the CSA Mine (copper-silver) and the Hera deposit (gold, silver, lead, zinc, copper).

Critically, these systems are often concealed beneath shallow cover, meaning surface exploration alone is insufficient. However, systematic geophysics and geochemistry can still effectively identify them, as demonstrated by Bulla Park's discovery beneath 60–120m of barren cover.

Glossary of Key Terms

• CuEq (Copper Equivalent): A method of expressing the combined value of multiple metals as a single copper percentage, based on prevailing metal prices and metallurgical recovery rates.
• Gravity high / gravity anomaly: Areas where rock density is higher than the surrounding geology — in the Cobar context, often associated with dense siderite-barite alteration linked to base metal mineralisation.
• RAB drilling: Rotary Air Blast drilling — a rapid and cost-effective method used to test near-surface geochemical anomalies.
• RC drilling: Reverse Circulation drilling — used to test mineralisation at greater depths with good sample quality.
• pXRF: Portable X-ray fluorescence — a field instrument used for rapid geochemical screening of rocks and soils.
• Stratigraphy: The sequence of rock layers — "Cobar stratigraphy" refers to the specific rock package in the Cobar Basin considered prospective for base metal mineralisation.

The Bulla Park Anchor: A Proven Blueprint

The Bulla Park deposit provides both a financial asset and an exploration template for the broader project. Its key characteristics are outlined below:

The high metallurgical recoveries for both copper and antimony are particularly notable. Antimony is increasingly in demand for energy storage and defence applications, adding a polymetallic dimension to the project's commodity exposure.

The deposit's association with a prominent gravity high — interpreted to reflect dense siderite-barite alteration — provides the direct geophysical template that WC1 is now applying across the West Cobar Metals Blind Freddie copper target in the Cobar Basin and Lilyvale. Both new targets display comparable or stronger gravity signatures, lending direct analogical support to their prospectivity.

Exploration Roadmap: Catalysts on the Horizon

WC1 has outlined a clear and sequenced exploration program for FY2026, with multiple drill-ready targets and defined work programs across the project:

The program is systematic and risk-managed: gravity surveys refine targets before drill testing, RAB drilling provides near-surface geochemical confirmation, and RC drilling then tests depth extensions of confirmed anomalies. This sequencing mirrors proven Cobar exploration methodology.

Planned activities in summary:

1. Lilyvale gravity survey to define drill targets based on refined anomaly geometry
2. RAB / aircore drilling at Blind Freddie targeting zones of strongest copper anomalism and the interpreted western fault margin
3. Follow-up geochemical sampling over the 5km gold anomaly south-southwest of Blind Freddie
4. RC drilling on priority targets including Blind Freddie, Lilyvale, and Bulla Park depth extensions

Investment Thesis: Why WC1 Warrants Attention

The announcement represents a meaningful step-change in the scale and quality of WC1's copper exploration portfolio. Several factors underpin the investment case.

1. District-Scale Land Position in a Proven Copper Province

Controlling ~1,090km² across ~120km of strike positions WC1 as one of the larger tenement holders in the Cobar Basin — a region with a long history of significant copper and polymetallic discoveries. The sheer scale of the position provides multiple shots at discovery.

2. Multiple High-Quality, Drill-Ready Targets

Blind Freddie and Lilyvale are not speculative anomalies — both display multi-layered geophysical and geochemical signatures (coincident gravity highs and copper anomalism) that are directly analogous to the Bulla Park deposit. Lilyvale's gravity signature is interpreted as larger and stronger than Bulla Park's, making it a particularly high-priority target.

3. A De-Risked Exploration Model

Bulla Park demonstrates that large, economic mineral systems can exist beneath shallow cover in this district. Its discovery and subsequent resource definition provide a proven blueprint — both technically and in terms of exploration approach — that directly informs how WC1 is targeting Blind Freddie and Lilyvale.

4. Polymetallic Exposure with Strong Recoveries

The Bulla Park resource carries copper, antimony, and silver — three commodities with distinct demand profiles. Metallurgical recoveries exceeding 82% across all three metals, confirmed through testwork, demonstrate the project's potential economic viability once it reaches a more advanced stage.

5. Immediate Near-Term Catalysts

With RAB drilling at Blind Freddie and a ground gravity survey at Lilyvale both scheduled to commence in mid-2026, investors can anticipate a steady flow of exploration results over the coming months. Each result is capable of materially upgrading the market's understanding of the project's scale and potential.

Why Investors Should Keep a Close Eye on WC1

West Cobar Metals has transitioned from a single-deposit copper story into a genuine district-scale explorer with multiple high-priority targets, a proven resource analogue, and a clear near-term drilling schedule. The Cobar Basin's track record of hosting significant concealed copper and polymetallic deposits — combined with WC1's systematic, geophysics-led exploration approach — creates a compelling setup heading into the second half of 2026.

The company's stated objective is to identify multiple Bulla Park-style systems across its newly consolidated land position. Consequently, with the West Cobar Metals Blind Freddie copper target in the Cobar Basin boasting a >2.5km anomaly, Lilyvale's compelling gravity profile, and Bulla Park itself remaining open for expansion, the pipeline of potential discoveries is real and actively being advanced.

Key Takeaway:

"West Cobar Metals has established itself as a district-scale copper explorer in the Cobar Basin, with a growing suite of high-quality targets validated by proven geology and geophysics. With RAB and RC drilling programs planned across Blind Freddie and Lilyvale in the second half of 2026, the coming months represent a significant exploration catalyst period for investors to monitor."

Ready to Explore West Cobar Metals' District-Scale Copper Opportunity?

West Cobar Metals (ASX: WC1) has rapidly evolved into one of the Cobar Basin's most compelling district-scale copper explorers, with the high-priority Blind Freddie target, the potentially Bulla Park-analogous Lilyvale prospect, and a proven resource all advancing toward a significant drilling campaign in the second half of 2026. For investors seeking exposure to a systematic, geophysics-led copper exploration story with multiple near-term catalysts, WC1 warrants a closer look. Visit www.westcobarmetals.com.au to learn more about the company, its projects, and the upcoming exploration programmes.