WESTERN AUSTRALIA
E09/1088, E 09/1750, E 09/1751 Gascoyne Resources Limited 100%
Located approximately 120km North of Glenburgh and straddling the Dairy Creek to Cobra Road, the central tenement of the Bassit Bore Project, E09/1088 hosts anomalous gold and copper geochemistry in stream sediments and in soils along a 15km long East-West trend across the tenement.
Surrounding this central tenement are two exploration licences, E 09/1750 & E 09/1751, that are held by Gascoyne to cover land with enhanced and anomalous gold in stream sediments.
The central tenement covers an almost East West striking linear belt of Proterozoic Metamorphic rocks, locally comprising Metasediments and Metavolcanics, bounded to the North and South by Granitic rocks of the Southern Gascoyne region.
Exploration Drilling
A drilling program completed in June 2010 returned a number of low grade gold intersections associated with gold in soil anomalies that were identified from historical soil sampling.
Stream Sediment and Soil Sampling
A regional stream sediment sampling program undertaken during the 2010 field season identified a number of highly anomalous drainages, with 27 drainages returning over 5ppb Au including 4 which returned results above 20ppb with the greatest being 830ppb Au. Subsequent soil sampling to cover these anomalous drainages identified 4 zones of anomalous gold East of the Beagle Prospect. The maximum gold value returned was 400ppb, while six other values were greater than 100ppb Au. In total 50 of the 308 samples collected returned values greater than 20ppb Au. Additional soil sampling and geological and regolith mapping is required prior to drilling these anomalous zones.
Geological Observations
Two areas of mineraliZed quartz veins were identified during 2010. In the Eastern sector, a quartz vein system has returned values up to 7.8g/t Au along a strike length of 350m and is located adjacent to the Western boundary of E 09/1751, while gold nuggets and gold mineralized quartz veins occur at the Western end of E 08/1088.
WESTERN AUSTRALIA
E52/2348 Gascoyne Resources Limited 100%
Background
The Bustler Well project is located approximately 110 kilometres North East of Glenburgh on the Landor-Mt Augustus Road, and 15 km North East of the Mt James project in the Southern Gascoyne region.
Minor historical gold workings based on quartz veined Schistose Arkose that were drilled in 1988 and 1989 with narrow width, high grade gold values returned from surface sampling and drillling provide the main exploration focus for the project. This is referred to as the “Old Pit Area”.
The main exploration focus is the "Old Pit Area" where historical gold workings occur associated with quartz veined Schistose sediments.
High grade gold values have been returned from limited drilling and surface sampling in the late 1980's.
Historic Exploration Details
Previous sampling of the gold workings at the Old Pit Area returned assay results up to 81.1g/t Au along with channel samples from pits returning numerous significant results including a channel sample result of 10m @ 2.6 g/t Au within a quartz veined shear zone.
In 1988 12 RC holes were drilled at four locations in the project area. The 3 holes drilled at the Old Pit Area, BR01, BR02, & BR03 returned narrow, high grade gold intersections (tabulated below).
Follow up drilling of a further 14 RC holes in 1989 in the Old Pit Area returned further encouragement with 3m @ 7.2 g/t Au from 47 metres, and 2m @ 4.3 g/t Au from 72 metres intersected in BR15. The gold mineralization appears to dip steeply and plunge to the South East.
- 1m @ 37.4 g/t Au from 20 metres (BR1)
- 2m @ 9.1 g/t Au from 10 metres (BR2)
- 3m @ 7.6 g/t Au from 17 metres (BR3)
- 3m @ 7.2 g/t Au from 47 metres (BR15)
- 2m @ 4.3 g/t Au from 72 metres (BR15)
The mineralised system is open to the south east.
WESTERN AUSTRALIA
E 52/2343 Gascoyne Resources Limited 100%
Background
The Mt James Project is located approximately 90 km from Glenburgh and is accessed from the Landor-Mt Augustus road by limited station and mineral exploration tracks.
Gold mineralization occurs over a total strike length in excess of 8km from the West Point Prospect in the West through the Pigtails Prospect to the Clever Mary Prospect in the East of the licence. The gold mineralization is situated within a shear zone close to the contact between Altered Mafic (Chlorite-Biotite-Carbonate-Pyrite) Schist and Felsic Schists. The Mafic Schist has been intruded by numerous small Pegmatite Dykes, and also contains minor Ferruginous Chert and BIF horizons.
The Chert and BIF horizons contain low grade Pyrite-Magnetite-gold mineralization zones at the West Point prospect.
Exploration Details
At the West Point prospect, RAB drilling identified a broad zone of low grade gold mineralization within which individual intercepts such as of 14m @ 1.57g/t Au and 4m @ 8g/t Au were returned over a strike extent of 3.6km that remains open to the West and at depth. Channel sampling of a Costean in the area returned 18m @ 2.49g/t Au. A small RC drill program in 1992 returned similar results from wide spaced drilling testing below the shallower RAB drill holes.
The Clever Mary prospect approximately 5 kilometres to the East of West Point comprises similar geology and style of mineralization to West Point. RAB drilling outlined low-grade gold mineralization over a 2.4km strike extent of the mineralized Mafic Schist with more significant intercepts being 5m @ 2.33g/t Au and 1m @ 6.15g/t Au. Soil sampling and mapping indicates that the gold mineralization is closed off to the West and open to the East.
A tenement wide soil sampling program undertaken several years ago has been re-evaluated taking into account the Regolith and previous drilling results. Enhanced gold in soil values in excess of 20ppb gold in a background of 1 to 2ppb gold have been recorded over a strike length of 1200m approximately 1.3km to the South of the West Point prospect. Field checking at this location confirm that the soils are most likely derived from transported overburden and that drilling will be required to test the bedrock below these values. The anomalous gold in soil results may be where bedrock gold has “shown through” the transported overburden.
Assessment of the regional Aeromagnetic data covering the Mt James area shows that the dominant structural trends of the area to be North West. This is at odds with the East-West alignment of the gold mineralization at the West Point and Clever Mary Prospects.
