The Silver Swan South Project is a gold and nickel project located approximately 20km northeast of Kalgoorlie that is comprised of 7 granted exploration tenements covering a total area of 45.2km². 

In early 2024, Codrus executed a binding sale agreement with FMR Investments Pty Ltd (FMR) for the gold rights in respect to tenements P27/2191, P27/2192, P27/2193, P27/2194, P27/2195, P27/2196 and E27/545.

Codrus maintains the nickel and base metal rights on the project as well as a royalty on gold production (after 5,000oz’s of production, capped at $2.7m) (refer ASX announcement 1 February 2024).

The Silver Swan South Project is located ~2km to the east of FMR’s Gordon Sirdar Gold Mine, which hauls gold ore for processing to their Greenfields Mill in Coolgardie. It is also ~10km northeast of the Kanowna Belle Gold Mine operated by Northern Star Resource Limited and lies along the structural trend of the Fitzroy Fault (the primary control on mineralisation at Kanowna Belle).

The project has had historic exploration by Blackstone Minerals and previous tenement holders. Historic work that supports gold and nickel exploration targeting at the project includes rotary air blast (RAB), aircore (AC) and reverse circulation (RC) drilling and a number of airborne and ground geophysical surveys.

A significant portion of the historical work is interpreted to have not effectively tested the geological opportunity due to not penetrating into bedrock due to the presence of thick surficial cover.

Codrus retains the ability to explore on the tenements for base metal rights including nickel.

Silver Swan South Project Location.