The Laverton Gold Project is 10 km southeast of Laverton in the highly-endowed Mount Margaret district of Western Australia. The tenements are 2.3km east of the world class Granny Smith gold mine (plant capacity 3.5 Mtpa).
The project was pegged by the Company at minimal cost and has no private royalty obligations. The Laverton Project consists of one tenement with a combined area of 19.7 km2.
Concurrent with the Phase 1 aircore drilling program in 2015 (see below), two grab samples were taken from the historic Mount Lucky gold mine (Figure 1), also on tenement E38/3038. Sample GER 01 (rock chip) returned grades of 7.27ppm Au and GER 02 (rock float) returned 0.89ppm Au.
Mount Lucky gold mine showing approximate location of rock chip sample GER 01
Rock chip sample GER 01 taken from roof of the Mount Lucky workings. Quartz veining in sheared sericite-limonite-argillic alteration.
A follow up mapping, rock sampling and geochemical sampling program is planned in the vicinity of the numerous gold workings that make up the Mount Lucky Prospect. This mapping will aim to generate drill targets for the 2016 field season.
Phase 1 aircore drilling program 2015
The Company conducted the an aircore drilling program on E38/3038 eastern targets from 28 November to 2 December 2015. A total of 40 holes (GEAC001 – GEAC040) were drilled for 1,619 metres (Figure 1).
This program examined a previously un-tested and prospective greenstone target in the vicinity of the world class Granny Smith gold mine. No economic mineralisation was encountered. The Company subsequently relinquished the ground it considered adequately tested by this drilling and by in-house POZ studies.
Phase 1 Drill Program
The Laverton Gold Project lies within a north-south trending structural corridor in the Kurnalpi terrane, part of the Eastern Goldfields Superterrane of the Yilgarn Craton. Fluid movement along the regional scale faults in the project area is proposed as the conduit for gold mineralisation.
The Mount Lucky Prospect is centered upon the historic Mount Lucky group of mines. The Prospect target sits adjacent to a major fault contact between felsic and mafic metavolcanics.
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