Gascoyne Resources

Mt James

The Mt James Project is located approximately 90 km to the north east of Glenburgh within the southern part of the Gascoyne Complex, a series of high-grade metamorphic rocks in the western part of the Palaeoproterozoic Capricorn Orogen.

Gold mineralisation occurs intermittently over a total, east west strike length in excess of 8km within a shear zone close to the contact between mafic and felsic schists from the West Point prospect in the west through the Pigtails prospect to the Clever Mary prospect in the east of the tenement. The gold mineralisation is situated within a shear zone close to the contact between mafic (chlorite-biotite-carbonate-pyrite) schist and largely unaltered felsic schists. The mafic schist has been intruded by numerous small pegmatite dykes and also contains minor ferruginous chert and BIF horizons.

Exploration Details

At the West Point prospect historical RAB drilling, to a maximum depth of 40m on 100m to 250m grid spacings, identified a broad zone of low grade gold mineralisation within which individual intercepts such as of 14m @ 1.57g/t gold and 4m @ 8g/t gold were returned over a strike extent of 3.6km that is open to the west and at depth. Channel sampling of a costean returned 18m @ 2.49g/t gold.

Gascoyne Resources

West Point Prospect

The Clever Mary prospect approximately 5 kilometres to the east of West Point comprises similar geology and style of mineralisation to West Point. RAB drilling outlined gold mineralisation over a 2.4km strike extent of the mineralised mafic schist with more significant intercepts being 5m @ 2.33g/t gold and 1m @6.15g/t gold.

Gascoyne Resources has recently completed a high resolution aeromagnetic survey covering the Mt James tenement. A total of 3012 line km of survey has been flown at a line spacing of 50m. The aeromagnetics indicate that the West Point, Pigtails North and clever Mary prospects all lie in a linear trend parallel to the southern margin of a small oval shaped granitoid intrusive.

Gascoyne propose to undertake RC drilling to target shallow high grade oxide gold zones at West Point. Extend geochemical sampling in the wider project area.