The Project is located 30 to 55 kilometres north of Kalgoorlie in Western Australia and covers 109 square kilometres of granted mining leases and prospecting licences over 25 kilometres of strike of the Bardoc Tectonic Zone greenstone belt.
Historic gold production of 56,700 ounces is recorded from the Bardoc Mining Centre located in the central part of the tenements. This production occurred largely from the underground Zoroastrian Mine in the late 1890s to early 1900s. Recent production from the Zoroastrian and Excelsior open pits mined by Aberfoyle Gold Pty Limited from 1987 to 1991 totalled 2,220,000 tonnes at 1.6g/t Au for 113,000 ounces of gold.
The Project tenements host widespread gold mineralisation related to the convergence of two major gold mineralising structural systems, the Bardoc Tectonic Zone and the Black Flag Fault.
Over 90 gold occurrences have been recorded in the tenement area. The gold mineralisation is localised in favourable rock units by the interaction of the north-north-west trending Bardoc Tectonic Zone and the north-east trending Black Flag Fault structures.
Exploration to date has delineated 22 resource areas with total current Measured, Indicated and Inferred Mineral Resources of 24.52 million tonnes @ 1.76g/t Au for 1,385,100 ounces of gold.
The initial Base Case Ore Reserves of 3.38 million tonnes @ 2.72g/t Au for 296,400 ounces of gold and derived from Indicated Mineral Resources of 6.22 million tonnes @ 2.59g/t Au for 519,000 ounces on only 5 of the current 22 resource areas within the Project.
The Base Case open pit Ore Reserve of 1.94 million tonnes grading 2.04g/t Au for 127,100 ounces provides an initial four year mine life under the minimum treatment provisions (500,000tpa) of the agreement with Norton and provides time and cash flow to finesse the underground mine studies at Zoroastrian and bring additional open pit ore reserves into the mining sequence.
Underground mining is not scheduled to commence until 2020 and the current underground Probable Ore Reserves at Zoroastrian total 1.44 million tonnes grading 3.65g/t Au for 169,300 ounces of gold.