Lockington Project (Central Victoria)

Location:

Lockington, Central Victoria, 70 kilometres north of Bendigo.

Owner:

Timpetra Resources Ltd (100% EL4742)

Pacrim Energy (23% of EL4552)

Regional Geological Setting:

Ordovician turbidite sequence tightly folded about doubly plunging north-south axial planes.

Overlain by 30 to 120 metres of unconsolidated, Tertiary age Murray Basin sediments.

Target Metals:

Gold

Mineralisation Setting:

Gold associated with disseminated fine grained arsenopyrite + pyrite hosted in preferred sandstone-shale package.  Proximal quartz-carbonate veins and late stage brittle faults.

Exploration History:

Essentially no gold exploration history prior to Gold Fields Australasia in 2004.

EMS designed the original soil, AirCore, and diamond drill programs leading to the discovery of gold mineralisation in June 2004.

Over 1,000 aircore holes and 31 DDH holes, with Ground gravity and CSAMT surveys completed by GFA by 2007.

Timpetra commenced diamond drilling in April 2011.

Exploration Results:

Lockington South Prospect now approximately 5.4 km long by 1 km wide containing 2 significant basement geochemical anomalies.  Diamond drilling to 500 metres depth with significant intersections including:
8.9m @ 3.71g/t from 166m, 6.8m @ 3.97g/t from 230m, 5.7m @ 3.15g/t from 303m, 2.2m @ 9.94g/t from 154m, and 4.4m @ 3.26g/t from 280m

Lockington East Prospect now over 10 km long by 2 km wide with 4 significant basement geochemical anomalies, the longest at 9 km.

The Lockington Gold Camp covers an area 10 km long by 5 km wide (at December 2007)

Exploration Tools & Methodology:

Regional borehole database – estimate depth to basement

Regional geophysical datasets – interpret significant regional and crustal structures

Soil sampling – rapidly cover large areas

Aircore drilling – traverse across significant structures and surface geochemical anomalies.

Diamond drilling – deep testing of basement geochemical anomalies.  Rigorous structural and stratigraphic analysis.

Ground gravity – interpret depth to basement, deep crustal structures.

Spectral analysis – clay and carbonate alteration mineralogy in aircore chips and DDH core.

Resource Potential:

Still in assessment stage.

Potential for significant gold deposit – mineralisation as indicated by aircore basement sampling can be continuous over large strike lengths.

Further Information: