Western Tanami Projects
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Western Tanami Landholding
The Tanami Project comprises a landholding of 7,857 square kilometres over the highly prospective Tanami gold field with exploration operations based out of the Coyote Gold Mine in Western Australia. The Company regards its Tanami Project landholding as having the potential to deliver a world class gold deposit.
Brownfields Exploration & Resource Development
The Company is targeting growth through exploration of advanced gold prospects and resource modelling of gold deposits located within trucking distance of the Coyote treatment plant
Three advanced prospects have been identified as having potential to contribute modest near surface oxide reserves as satellite open pits to the Coyote Gold Project.
- Pebbles - located 6 kilometres southwest of the Coyote mill. Previous drilling returned a best intercept of 2 metres at 77.7 g/t Au from 29 metres. High grade mineralised shoots are located within the axis of a plunging antiformal fold closure.
- Hawk - located 1 kilometre north of the planned Sandpiper open pit at Bald Hill. Previous drilling returned a best intercept of 15 metres at 4.3 g/t Au from 109 metres. Mineralised shoots are located wtihin the axis and limbs of a plunging antiformal fold closure on the contacts between interbedded sediments and mafic rocks.
- Road Runner - located 8 kilometres south of the Coyote mill. Previous drilling returned a best intercept of 4 metres at 28.5 g/t Au from 22 metres. Mineralisation comprises near surface flat lying placer lodes fed by primary high grade quartz vein lodes. The quartz veins form steeply plunging shoots with intercepts up to 3 metres at 55.9 g/t Au from 123 metres. The veins remain open down-plunge indicating a potential high grade deep exploration target.
Coyote Near Mine Exploration
The Coyote gold deposit is situated at the eastern end of a contiguous gold anomalous corridor with a strike length of over seven kilometres which is considered highly prospective for the discovery of additional gold mineralisation.
The Company has recently commenced drill testing of the strike extensions of the mine host stratigraphy west of Coyote and structural targets generated from geophysical interpretation to the southeast of Coyote.
Regional Tanami Project Programs
The Company regards the Western Tanami Project landholding as a major asset with the potential to deliver a world class gold deposit. Comparisons can be made between the Company’s Western Tanami gold prospects and the major gold deposits in the Northern Territory Tanami terrane. For example, the Coyote-style of mineralisation has been correlated with the Callie deposit (+5 million ounces) while the Bald Hill area has similarities with the Tanami Mine area (1.5 million ounces).
Within the Western Australian landholdings the Company's exploration activities are focused within this corridor, which locally is subdivided into the Selby Trend and the Bramall Trend.
The Selby Trend is ranked as the most prospective structural target zone in the Company's landholdings as it contains the Coyote gold deposit and the Yosemite and Afghan prospects which are located approximately 50 kilometres to the northwest of Coyote.
Yosemite, with a peak drilling assay to date of 1 metre at 7.0 g/t Au from 58 metres, contains bedrock lithologies similar to the Callie gold deposit including thick packages of siltstones, carbonaceous sediments, dolerite and minor chert horizons. Recent drilling at Yosemite has intersected zones of abundant quartz veining containing sulphide minerals such as pyrite and arsenopyrite which are commonly associated with gold mineralisation in the Tanami region.
At Afghan, geochemical sampling and drilling in late 2005 detected new zones of surface anomalism and extended the strike length of gold mineralisation eastwards to a newly defined anomaly named Kandahar. Previous drilling has returned a maximum assay of 3 metres at 5.2 g/t Au from 41 metres at Afghan, which is hosted within a dolerite unit that has been the sole target of previous deeper drilling.