The Company has entered into a binding Memorandum of Understanding to acquire an initial 50% of the project and has the right to earn up to 90% of the project.
Regional scale interpretation and some limited ground mapping and sampling undertaken. Initial field inspection has located a porphyry outcrop, which, at nearby projects has been a key factor in ore body formation.
Exploration model is for potential mineralisation to be hosted by porphyry, breccias, skarns and sandstone rock units. The project potentially contains a major regional scale structural feature, which has been associated with other significant (>1Moz Au) deposits in the region.
Initial exploration works indicates the project has the potential to host IRGS style mineralisation, comparable to mineralization found at the Mount Leyshon, Kidston, Red Dome/Mungana and Mt Rawdon deposits (all Australian IRGS Deposits).
Sealed roads and regional population centres in close proximity.