Mt Wellington Project (Victoria)

Under Mt Wellington Gold Ltd:

Location:

80 km north-east of Melbourne, Victoria
Between the Ski Fields of Mt Baw Baw and Mt Buller

Regional Geological setting:

Intermediate Cambrian volcanics and associated sediments (Licola Volcanics) beneath overthrust Silurian quartzites and meta-siltstones.

Target Metals:

Gold, Copper and Zinc

Mineralisation setting:

Initially considered to be VHMS setting, but mineralogical and isotope studies led to conclusion of a high level, magmatic related epithermal Cu-Au (± pyrrhotite) style.

Target size:

Medium to significant tonnage of low grade copper and gold deposits

Exploration History:

Rhyolite Creek (epithermal gold) discovered by BHP minerals in 1986

Exploration Tools:

Geological mapping
Airborne radar imagery (AIRSAR) data collection & interpretation
Induced Polarisation
Fixed & moving loop EM
Ground magnetic surveys
CSAMT
Soil geochemistry (4000 samples) and alteration mineralogy (soil PIMA)
Block modelling of soil & drill PIMA data
Rock geochemistry (3700 samples)
MMI and Deep Leach soil geochemistry
RC (10,200 metres in 98 holes)
Diamond drilling (2,300 metres in 9 holes)

Significant Outcomes:

Hill 800                   1994 (epithermal Cu-Au)
Long Ridge              1994 (epithermal Cu-Au)
N16                         1995 (carbonate zinc + copper)
Violet Hill                 1995 (lead-zinc in VHMS setting)

Potential:

Significant potential to develop known geochemical anomalies, and for further discoveries in these prospective volcanics.

Under Goldsearch Ltd:

Location:

80 km east of Melbourne in the Alpine region of Victoria

Regional Geological setting:

Intermediate to felsic Cambrian volcanics and associated sediments (Jamieson and Licola Volcanics) beneath overthrust Silurian quartzites and meta-siltstones.
 

Target Metals:

Gold, Copper and Zinc

Mineralisation setting:

Magmatic related, low sulphidation epithermal Zn-Cu-Au style. Permeable-impermeable lithological boundaries act as structural traps to rising hydrothermal fluids

Target size:

Medium to significant tonnage of low grade copper and gold deposits, and high grade zinc-gold deposits

Exploration History:

Rhyolite Creek (epithermal gold) discovered by BHP minerals in 1986, Hill 800, Mikes Bluff, Log Ridge Prospects discovered by Mt Wellington Gold in 1994 – 1995

Exploration Tools:

Geological mapping with 3D modelling
Diamond drilling at Rhyolite Creek, Long Ridge and Mikes Bluff

Significant Outcomes:

Rhyolite Creek – 5.6metre intersection from 220 metres returned an average gold grade of 2.19 g/t with a peak one metre interval of 8.95 g/t gold. This interval also returned individual sample intervals of up to 127 g/t silver, 17.9% zinc, 1.5% lead and 0.8% copper. A 60 metre zone from 220 to 280 metres averages 1.1% zinc – See GSE report to ASX 19th June 2008.

Potential:

Drilling at Rhyolite Creek proved the association between magnetic anomalies and mineralisation. At least five significant aeromagnetic features remain to be tested in these prospective volcanics.

Status:

Available for Joint Venture as at July 2011.  Contact EMS or Goldsearch Ltd for information.