ASX announcements
03rd Dec 2020
Letter to Shareholders - Notice of Access to General Meeting
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Mt Stirling Gold Camp
The Mt Stirling Gold Project is located 40km northwest of Leonora in Western Australia (Figure 3). The Project lies 8km NW of Red5’s 4Moz King of the Hills mine.
Mt Monger
The Mt Monger tenements are located approximately 50 km SE of Kalgoorlie and overlie part of the highly mineralised Norseman-Wiluna Greenstone Belt. The project area is underlain by the Bulong Anticline that is part of the Gindalbie Terrane bounded by the Mt Monger Fault to the west, the Emu Fault and Penny Dam Conglomerate to the east and the Randall Fault to the SE which is locally called the Bare Hill Shear.
Zuleika
The Zuleika Project is located in the central part of the Archaean Norseman-Wiluna greenstone belt in Western Australia. The greenstone belt is approximately 600 kilometres in length and is characterised by thick sequences of ultramafic, mafic, and felsic volcanics, as well as various intrusives and sedimentary rocks. Generally the mafic and ultramafic occur at the base of the sequence, with the felsic volcanic to volcaniclastic rocks overlying.
Credo Well
The Credo Well Project is located ~35km north‐west of Kalgoorlie, within the Kalgoorlie Terrane of the Norseman‐Wiluna greenstone belt, forming the southern portion of the Ora Banda domain.
Gibraltar
The project area is situated south-west of Coolgardie on the eastern edge of a 3 to 4 km wide Archaean greenstone belt in contact with the Bali Monzogranite. The greenstone sequence wraps around the monzogranite and hosts gold mineralisation at numerous locations stretching back to Coolgardie, including Norma May, Grosmont, Burbanks and MacPherson’s Reward. The major structural feature in the area is the Bullabulling Shear which is interpreted as passing to the west of the tenements. Some large gold resources have developed on the Bullabulling Shear at the Gibraltar and Bullabulling mine sites.
Bonnie Vale
The BonnieVale project consists of a single granted Prospecting Licence 15/5305 with an application to transition to Mining Lease 15/1839 pending. The project is located within the Coolgardie Domain of the Kalgoorlie Terrane in the Eastern Goldfields Province of the Yilgarn Craton. This domain consists of an arcuate belt of complexly deformed mafic and ultramafic rocks with minor black shales, volcanoclastics and sediments.
Malcolm - Calypso
The Calypso Project is located approximately 20km south east of Leonora and is completely covered with transported sediments including aeolian sands, laucastrine clays and hardpan.
Drilling to begin at Mt Stirling Gold Project in Q3 2020
Highlights:
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Programme to be kicked off in Q3 2020, with an initial 5,000m RC drilling campaign to continue to test the depth and strike of the current 1.45 g/t Au 33,900oz JORC inferred resource at Mt Stirling
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Phase 1 drilling has proven that the Mt Stirling Project is emerging as a potentially large gold system with ore grade Au now intercepted over 100m below prior drilling and extends over 1,000m strike
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Mt Stirling drilling to be followed by a drilling campaign to test the extent of the 2.01 g/t Au 16,000oz Stirling Well JORC inferred resource
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8,000 – 10,000m drilling campaign at the Diorite Block to commence in Q4 2020, where recent sampling returned grades of up to 21 g/t gold and 9.59 g/t silver in and around the historic 73 g/t Diorite King mine