THE PILBARA GOLD PROJECT
The Company holds a 100% interest in the Pilbara Gold Project consisting of eight granted exploration licences (and six applications) covering a total of 1,547km² located on the Sylvania Inlier in the south west of the prolific Pilbara region situated approximately 30km south of Newman and approximately 1,000km north-north east of Perth at the southern edge of the Hammersley area of Western Australia (Figure 1). The tenements are neighbouring Capricorn Metal Limited’s Karlawinda Gold Project (“Karlawinda”) and are along trend of gold bearing anomalies consistent with those at Karlawinda.
The tenement package comprises a number of early-stage tenements prospective for gold that historically have been underexplored and/or have had a focus on other metals such as iron ore. The Company considers that the tenements contain a number of anomalies that have been largely overlooked or unexplored and warrant further investigation.
THE MALLINA GOLD PROJECT
The Mallina Gold Project (“Mallina”) comprises four tenements (three granted, one application) covering approximately 1,728km2 of the Mallina Basin in the Northern Pilbara of Western Australia. De Grey Mining Limited’s Hemi deposit is located approximately 120km to the southwest of Mallina with historical geophysical data suggesting that the majority of the tenement package is underlain by the Mallina Formation. Mallina comprises one of the largest tenement holdings assembled within the Mallina Basin, of which three of four tenements were applied for prior to the discovery of Hemi. Hemi is identified as an intrusion hosted gold deposit which is a new style of gold mineralisation in the Pilbara region. These intrusions are hosted in the Mallina Formation within the Mallina Basin, part of the De Grey Superbasin.
There has been limited drilling and historical gold exploration conducted over the Mallina Gold Project. The limited geological understanding of Mallina has been derived through geophysical data with some previous interpretation utilised to obtain an overall understanding of the geology of the area.