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.
EXPLORATIONGreen-fields status.
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. GEOLOGYExploration 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.
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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).
TRANSPORTATION
Sealed roads and regional population centres in close proximity.