Geology

CEN Central Resource Area Nov 2013 SmallFigure 1. Kalgoorlie North Gold Project Prospect Location Plan Tenements, Resource Targets and Neighbouring Significant Gold Deposits Showing previously announced resource ounces at 0.6 and 3.0g/t Au lower cut-offs

 

The Kalgoorlie North Gold Project covers 25 kilometres of strike over the Bardoc Tectonic Zone (BTZ) which consists of a variably deformed Archaean succession of mafic-ultramafic volcanic rocks, felsic volcano-sedimentary rocks, felsic-intermediate porphyry intrusions and differentiated mafic-ultramafic intrusions.

The sequence is strongly attenuated as a result of being “squeezed” between two large granitoids during regional ENE-WSW shortening and as a result it forms a narrow synclinorium bound by granitic rocks of the Goongarrie – Mt Pleasant Anticline to the west and the Scotia – Kanowna Anticline to the east.

There is interpreted to be five (5) major NNW trending shear zones hosting mineralisation over the length of the Kalgoorlie North tenements and multiple mineralised cross structures influence the concentration of mineralisation in the major shears and provide further poorly drill tested targets in their own right.

The Kalgoorlie North Gold Project is structurally related to the neighbouring multi-million ounce deposits of Paddington, Mount Pleasant and Aphrodite. Conceptually, the Project sits over the intersection of the BTZ, and the Black Flag Fault; two structural features which influence the distribution of major gold deposits in the area. The Black Flag Fault is a major structure controlling gold mineralisation at Mount Pleasant (~3Mozs) and in the Kundana (~5Mozs) area to the south west extends into the Kalgoorlie North tenements and is regarded as an important channel way for mineralising fluids and a significant exploration target.

The project covers the old Bardoc Mining Centre and Broad Arrow Goldfield. Historic gold production from the Bardoc Mining Centre occurred in the late 1890s to early 1900s primarily from the underground Zoroastrian Mine which produced over 56,690ozs from high grade quartz veins and was mined to a depth of about 120 meters.

The Bardoc area was explored by Aberfoyle Gold Pty Ltd in the 1890s resulting in the mining of the Excelsior and Zoroastrian open pits between 1987 and 1991, Mine production totalled 200,000 tonnes grading 2.47g/t from the Zoroastrian Pit and 2,020,000 tonnes grading 1.5g/t from the Excelsior Pit for a total of 2,220,000 tonnes at 1.6g/t for 113,000ozs of gold.

Approximately 89% of the currently defined 1,367,500ozs of gold resources (1,153,000ozs) are located in the vicinity of the previously mined Zoroastrian and Excelsior open pits in the central part of the tenements. The Zoroastrian (581,200ozs Au) and Excelsior (456,100ozs Au) resources and a further ten smaller gold resources within a four kilometre radius of Excelsior provide priority targets for the Company. This area potentially offers both open pit and underground mine development opportunities and the Zoroastrian deposit in particular has potential to expand into a very significant gold resource and major open pit and underground mine.

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