SUMMARY
Steam Engine Gold Project
• A Scoping Study on the viability of a toll treatment as well as a standalone processing operation was completed and reported during the previous Quarter. The study indicated robust economics and identified significant scalability upsides in the event that modest additional tonnages of open-pittable Resources are identified by further drilling.
• A Feasibility Study based on a toll treatment operation progressed during the reporting period.
• Results from the first batch of samples from Phase 2 of the 2024 Resource expansion and exploration drilling program were reported during the period.
• New zones of gold mineralisation were identified at the northern ends of the Steam Engine and Eastern Ridge lodes.
• Advanced 3D modelling of SAM geophysical data indicated that highly anomalous features resembling previously unknown gold lodes, including a potential extension of the main Steam Engine Lode, are real features and are likely to be at shallow depth.
Bottletree Copper Prospect
• The Company was awarded a $300,000 Collaborative Exploration Initiative (CEI) critical minerals grant for the drilling of two deep holes targeting a modelled porphyry core during the 2024 field season. The government has extended the timeframes for completion of the CEI drilling.
• Drilling of the CEI holes is planned for commencement within the following two months, subject to weather conditions.
Cockie Creek Porphyry Cu-Au-Mo Prospect
• Modelling of a maiden JORC (2012) Mineral Resource Estimate is nearing completion and on track for release to the market during the first quarter of 2025.
Hall’s Reward High Grade Cu-Au-Ag Prospect
• New (to the market) high grade copper-gold-silver project located within the Greenvale Project.
• Historical small-scale mining between 1933-1957 over a strike length of 50m and to a maximum depth of 45m produced 12,800t @ 5 g/t Au, 17% Cu and 23 g/t Ag.
• Drill program being planned to test for mineralisation around the old workings and also a second lode that extends up to 2kms strike length.
Read the announcement via this link