Exploration

Prime Mining Location:The tenement of 402 sq.km is located in the central part of the Lachlan Fold Belt. The Yeoval District, with about 60 known copper-gold mineral workings (old mines), is well known and the tenement has anomalies similar to the Northparkes Mine area.

Strong Gold Indicators:The most common type of known mineralisation is copper sulphide associated with magnetite skarns; gold is commonly reported with copper and in most cases is contained in copper sulphide, indicating that a low cost gold extraction method such as used at Cadia-Ridgeway and Northparkes is likely to be effective. Gold has undergone enrichment in the upper portions of the lode during weathering, which accounts for the high grade gold content (1-2 oz) reported in the quartz veins and up to 7 oz/t Gunners Mine.

Numerous Historic Workings on Tenement:Some sixty workings are known in the district, and a number of these occur within the tenement. These include: Dilga Creek (Gowulma) Prospect – an area where copper (Ag/Au) and quartz veining has been worked by seven shallow shafts and an open cut; Gunners Dam (Southern Cross and Corkers) Prospect – opened in 1890; Doonkuma North (copper vein); and Doonkuma Prospect (copper-gold).

High grade gold structures

Porphyry copper-gold mineralisation, in particular where coincident circular magnetic and gravity anomalies exist at major structural intersections.

High grade resources under and along strike of gold mines, eg. Gunners Mine 7 oz/t gold in mullock.

Locate Northparkes or Ridgeway type deposits. Gunners, Dookuna and/or Gowulma workings will be drilled underneath and along strike to delineate open cuttable lode gold deposits potential for porphyry Cu-Au mineralisation related to a large coincident/circular magnetic and gravity anomaly.

Complete planned high resolution geophysics and drill defined anomalies.