Mount Magnet and Yalgoo mineral fields, Western Australia
- Extensive Gold and Copper Portfolio Secured with the acquisition of Warrigal Mining Pty Ltd
- 510km2 secured at the highly prospective Yalgoo & Mount Magnet mining districts
- High Grade and shallow targets being prioritised for follow up including:
- 8g/t gold surface quartz vein chips reported at Warriedar (Yalgoo)
- 15m @ 2.33 g/t (including 7m @ 3.4g/t) historical drill results at Euro
- Most permits located within 20km of established processing facilities with capacity
- High-quality projects being prioritised for 2020 programs
- Company assets review completed
Mt Magnet and Yalgoo tenement location map
Warriedar schematic geology
The Warriedar Project is based on 333km2 of granted tenure located in the Warriedar Fold Belt of the Yalgoo-Singleton greenstone belt and sits within 20km of two milling and processing facilities – namely the Minjar Golden Dragon Mine and the EMR Capital Golden Grove polymetallic mine. The Warriedar Project is flanked by greenstones and volcanics and a significant intrusive related gold system (IRGS) at the Western prospect area has been surface sampled with grades up to 8g/t.
The Eastern side has more than 25km of previously unrecognized (and unexplored) greenstone and felsic volcanics – considered highly prospective for volcanogenic massive sulphides (VMS) and gold.
Historical gold production at the Warriedar Mining Centre and State Battery occurred between 1913-1935 reported an average grade of 10.7g/t Au. The Warriedar Mine produced copper between 1958-1969 at a grade of 9.83% Cu.
Messenger Project with magnetics and nearby mineral occurrences
The Messenger project covers an area of 93m2 along the eastern margin of the Warriedar fold belt and is adjacent to the EMR Golden Grove base and precious metal deposit.
The Messenger Project geology is primarily sedimentary and felsic volcanics including outcrops of the highly desirable Golden Grove and Scuddles Units which host the major VMS mineralization in the district. Large outcrops of underexplored greenstone hosted quartz lodes are also present on the eastern portion of Messenger.
With the original discovery of gold in 1907, Messenger has had an extensive history of artisanal gold production with minimal modern systematic exploration despite being proximal to a world-class VMS camp. Messenger offers outstanding potential for the discovery of greenstone hosted gold, shear hosted gold and VMS.
Euro Project with magnetics, structure and nearby operations
The Euro Project is a single 63km2 tenement nestled in the hinge of a tightly folded greenstone sequence of the south Yalgoo Greenstone belt. The project is centred upon a number of cross-cutting shear zones known to host significant mineralisation including one major operation and two high profile development projects.
The Karara Iron Ore Mine, Silver Lake Resources’ Rothsay Mine; and the Mt Mulgine tungsten/molybdenum deposit are all located within 10km of the Euro Project. Historical drill intercepts of near-surface gold (tabled below) combined with the recent discovery of outcrops of large ultramafic units with spinifex textures (indicative of nickel mineralisation) show the project has significant exploration potential in its own right.
Table 1: Historic drilling highlights
|NR017||20m||15m @ 1.15g/t|
|NR020||20m||8m @ 0.87g/t (including 5m @ 1.3g/t)|
|NR018||15m||15m @ 2.33 g/t (including 7m @ 3.4g/t)|
Range Project with neighbouring exploration success
Located 5km from the town of Mt Magnet which boasts a prolific >6Moz historical production history, the Range Project consists of 20km2 of granted tenure covering a continuous 7km long strike length of prime geological real estate.
The project hosts numerous shear hosted and orogenic quartz lodes (which make up the bulk of historic production in the region). More recently the regional exploration focus has been towards larger intrusive and porphyry-style mineralisation. The North East trending Boogardie intrusive gold trend being exploited by Ramelius Resource Ltd (ASX:RMS) and the east-west trending Barimaia porphyry discovery by Genesis Minerals Ltd (ASX:GMD) intersect in the Range Project.
Mapping has outlined the presence of the same intrusives along with high-grade alteration (indicators of high-grade mineralisation in porphyry systems) extending from the neighbouring Britannia open pit and through historic shafts.