PROJECTS
East Kimberly
Mt Angelo Porphyry
Mt Angelo North
Bent Ridge - Pyrophyllite
Granite - Lady Helen
McIntosh - Melon Patch
Tiger
Koongie Park VMS
Milba

Eastern Goldfields
Cosmo Newbery
Wild Night Hill

Glengarry Proterozoic Basin
Mt Padbury

Ashburton Proterozoic Basin
Mt Agnes

West Pilbara
Pilgangoora

Mt Agnes

Mt Agnes copper – gold project is located approximately 20 km north of Glen Florrie Homestead and 80 km east of the West Coastal Highway in the Ashburton Mineral Field. One granted exploration licence covers the historic Mt Agnes copper – gold prospect that essentially comprises hydrothermal quartz veining and gossanous lenses within metamorphic rocks of the Mesoproterozoic Ashburton Formation.

The region has been subject to renewed exploration activity by Jackson Gold Limited, including the discovery of significant copper mineralisation at the adjacent Minga Bore and K15/K16 prospects, located approximately 25km southeast of the Mt Agnes Project. The proximity to a granodiorite source may have implications for a larger copper – gold mineralised system at depth within the Mt Agnes Project.

A review of the previous rock chip geochemical data from the Mt Agnes area has confirmed the presence of average Cu values of 0.33% and gold values of 0.78 g/t Au in a series of historic costeans and adits within a 200 m long north-northwesterly trending zone. The mineralisation is associated with deformed quartz veins and stockworks in a metamorphosed altered, fine grained sedimentary host intruded by a granodiorite pluton.

The presence of ubiquitous magnetite and localised hematite alteration can be compared with Iron Oxide Copper Gold (IOCG) mineralisation that includes world class deposits such as Cadia in NSW and Ernest Henry in NW Queensland. The Company is planning a detailed MAGLAG geochemical program before the end of the quarter that, along with the aeromagnetic and radiometric results, should lead to targets for RC drilling planned for the next quarter.

Detailed aeromagnetic and radiometric data has been collected by UTS Geophysics over the Mt Agnes tenement. Initial interpretation of the data confirms that a weakly magnetic granite, immediately east of the tenement, has intruded metasediments of the Ashburton Group. The metasediments include several magnetic (iron rich) units that have been folded into a broad fold (anticlinorium?) overprinted by small M folds and a series of NW – SE trending structures.

The Meilga Cu-Au Prospect would appear to occur within a structurally thickened magnetic unit within the metasediments and occurs adjacent to a significant aeromagnetic anomaly (refer Figure). The NW – SE trending structures are consistent with previously observed mineralised trends and are also related to anomalous gold and arsenic values in the historic stream sediment geochemical data.