Victorian Gold Projects

Location of the Wedderburn and South Arnaud projects in western Victoria. Yellow dots represent gold deposits and prospects, and their distribution highlights the rich gold belts of Victoria.

Metals holds two low impact exploration licences in Western Victoria. The St Arnaud South (EL5242) and Wedderburn (EL5243) projects contain significant historic workings that have received little modern and systematic exploration.

The Victorian Goldfields were discovered in the gold rushes of the mid-1800s, with all significant gold mining activity ceasing by 1930. Government records show that numerous gold prospects, mines and occurrences are documented within the licence areas.

EL5242 St Arnaud South – Percydale Fault Zone

Previous work on EL 5242 is focused on workings hosted by the Percydale Fault Zone, which is a sheared, altered zone of strong deformation that is up to 500 metres wide. The fault zone within the licence contains regular northwest striking, west-dipping zones that show a strong association with gold mineralisation. The Company has focused on the Sailor-Greenock-Federal trend of mineralisation as a potential significant exploration target.

Discrete veins within this zone have exhibited high grade gold mineralisation over short strike lengths of 50 to 100 metres. Grades have typically been in the range of 10 to 30 g/t Au, and high values of lead, zinc, copper, and silver have been associated with the gold mineralisation at various locations throughout the area.

Large tonnage, moderate grade gold potential

Historical exploration in the region was for low tonnage, high grade gold deposits. A review of that work shows that a series of small high-grade bodies were identified (3,000-10,000t range), but the potential for larger, lower grade disseminated gold mineralisation in the area was not considered.

Reappraisal of the historical work indicates there is potential for a 10 to 20 metre wide, moderate grade shear zone to exist between hanging wall and footwall fault structures in the EL area (North Percydale Block).

Work by Metals has shown rock chip samples from the Greenock mine area returned in excess of 3 g/t Au. The length and orientation of these zones is presently unknown but will be subject to further work.