Providence Gold & Minerals Pty Ltd
Under Joint Venture with Kite Gold Pty Ltd (a subsidiary of Catalyst Metals Ltd – ASX code: CYL):
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Location: |
Mitiamo, 70 km north of Bendigoin central Victoria |
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Regional Geological Setting: |
Ordovician turbidite sediments underlying 10 to 120 metres ofTertiaryMurrayBasinsediments. Upright tight folds developed in turbidites due to east-west compression, with later reverse faulting leading to the development of massive quartz structures hosting free gold. |
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Target Metals: |
Gold |
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Mineralisation setting: |
Gold is found in massive quartz veins and sediments with thin quartz veining, associated with a proximal arsenopyrite halo mineralisation |
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Target size: |
2 million ounces contained gold |
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Exploration History: |
No drilling prior to PGM involvement |
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Exploration Tools: |
Structural interpretation from gravity imagery, soil sampling, AirCore drilling, diamond drilling |
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Significant Outcomes: |
AirCore drilling in March 2010 intersected: 6 m @ 83 g/t gold from 123m in hole FE328 (including 3m @ 106 g/t gold) 3 m @ 3.0 g/t gold from 135m in hole FE328 3 m @ 9.7 g/t gold from 120m in hole FE380 AirCore drilling in April 2011 intersected: 3m @ 14.7g/t gold from 57m in hole FE415 3m @ 15.3 g/t gold from 81m in FE471 and 3m @ 5.5 g/t gold from 75m in hole FE471 At least three trends of anomalous gold and arsenic mineralisation and quartz veining in basement rocks, 3 to 4 km long A possible parallel 10 km trend of anomalous gold and arsenic mineralisation in basement rocks Diamond drilling shows strong gold mineralisation to occur in anticlinal structures, similar to those at Bendigo |
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Potential: |
Potential to host a number of parallel mineralised structures up to 10 km long, thus approaching dimensions similar to the mineralised footprint at Bendigo |
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Status: |
Continuing exploration. |
