MURCHISON GOLD PROJECT
Western Australia
Large high grade gold resource with clear pathway to growth through exploration
Project Highlights
- High confidence, high grade 1.1Moz gold Mineral Resource with 65% in Measured and Indicated classification and clear pathway to growth through drilling of high priority near-mine exploration targets
- Strategic land holding in Murchison Gold Field central to 3x large gold processing plants (343km² Mining Leases and Exploration Licenses)
- Past production by Doray Minerals Limited of over 330,000 ounces at 8g/t gold when gold price was A$1,600/oz
- Extensive infrastructure remains in place at Andy Well
- Comprehensive exploration dataset ($30m replacement value) acquired with the project including sub-audio magnetic, aeromagnetic and gravity data, and a drill hole database containing 786,500m of geological information
Exploration Potential
The Andy Well and Gnaweeda Gold Projects cover the northern extent of the Mount Magnet Shear Zone (Andy Well Mine) and the Youanmi Shear Zone (Gnaweeda Project). The project tenure includes 46km² of granted Mining Leases and 297km² of Exploration Licenses. The projects are located adjacent to several multi-million ounce gold mines and large gold processing facilities which provide processing options without the need for capital intensive infrastructure (Figure 1).
At Andy Well the exploration target is shear hosted, high grade quartz vein style mineralisation where gold grades within the veining are in general above 30g/t (Figure 2).
At Gnaweeda the exploration target is a 7km gold anomalism where mineralisation is widespread and occurs within multiple mineralised envelopes, but predominantly concentrated in interpreted fold closures (Figure 3).
Meeka Gold sees a clear pathway to rapidly expand the known Mineral Resources through drilling near mine targets identified in historical drilling but until now have not received sufficient follow up drilling.
Figure 1: Andy Well and Gnaweeda Gold
Project Location
Figure 2: Andy Well existing mineral resources and exploration targets
Figure 3: Gnaweeda existing mineral resources and exploration targets
History of the Andy Well Mine
Limited exploration completed prior to 2009 when Doray Minerals purchased in interest in the project and commenced drilling in early 2010. Doray had immediate exploration success following up the down plunge extension of high grade but shallow drilling previously completed by WMC and various other companies. Doray rapidly defined a large mineral resource and transitioned from explorer to developer. Doray’s focus shifted from exploration to resource development within the immediate mine footprint leaving many high grade near mine targets untested as they lay outside of the immediate mine footprint. Andy Well produced over 300,000 ounces at 8g/t for Doray between 2013 and 2017. Mining stopped in September 2017 due to the low gold price, Doray’s large debt burden ($48m) and competing capital requirements at the company’s newly established Deflector Mine. The FY17 AISC were $1,517/oz with reported production of 53,000 ounces. Extensive infrastructure remains in place at Andy Well including underground mine development, surface haul roads, partial processing infrastructure and a tailings storage facility (Figure 4).
Figure 4: Andy Well infrastructure
Geology Summary – Andy Well
Andy Well is located at the northernmost end of the north-northeast trending Archaean Meekatharra-Wydgee Greenstone Belt which comprises a succession of metamorphosed mafic to ultramafics, felsic and sedimentary rocks. Gold mineralisation at Andy well is orogenic shear hosted, high grade quartz vein style. Gold is frequently visible and finely dispersed throughout laminated, breccia and massive quartz types as well as with a lesser pyrite and other sulfides. Gold grades within veining are in general above 30g/t and there is no dissemination of mineralisation outside of the quartz vein. Mineralisation forms an extensive and largely continuous sheet of mineralisation. The largest lode defined to date strikes over 600m and extends 700m down dip, remaining open at depth. It is interpreted that shearing that hosts the mineralisation has developed adjacent to, and in response to, movement along the Mount Magnet Shear zone which is located less than 1km to the east of Andy Well. Shearing along the northeast-southwest trend is likely to have exploited lithological contacts due to rheological contrast between differing basalt flow compositions. Strain appears to have been preferentially accommodated in fractionated magnesium rich basalt flow bases which contain a higher proportion of ductile alteration minerals such as chlorite and talc compared to more robust flow tops. Regionally the Mt Magnet Shear Zone is associated with several other large gold occurrences in the Meekatharra-Wydgee greenstone belt.
Previous Exploration Summary – Andy Well
Prospects identified to date outside of the existing the Mineral Resource include:
Prospect Name
Suzie North
Drill Results
WBUG0124 – 3.6m @ 8.8g/t Au (130m below surface)
Margaret
MNRC269 – 5m @ 4.5g/t Au (incl. 2m @ 10.4g/t Au)
MNRC266 – 5m @ 3.6g/t Au (incl. 1m @ 17.6g/t Au)
Eastern Link
MNRC311 – 3m @ 13.5g/t Au (incl. 1m @ 40.2g/t Au)
MNRC444 – 1m @ 71.9g/t Au
MNRC377 – 6m @ 4.1g/t Au (incl. 1m @ 23.2g/t Au)
MNRC309 – 3m @ 6.5g/t Au (incl. 1m @ 18.7g/t Au)
Highway
MNDD032 – 10m @ 2.00g/t Au (incl. 3m @ 5.98g/t Au)
MNDD049 – 5m @ 5.16g/t Au (incl. 1m @ 11.50g/t Au)
Kirsty
WBUG0124 – 0.8m @ 16.7g/t Au (125m below surface)
Wendy
AWAR2014 – 56m @ 0.90g/t Au (incl. 9m @ 3.13g/t Au)
AWAR3119 – 24m @ 1.25g/t Au (incl. 12m @ 1.87g/t Au)
MNAC0634 – 16m @ 1.00g/t Au (incl. 8m @ 1.38g/t Au)
Prospect Name
Suzie North
Drill Results
WBUG0124 – 3.6m @ 8.8g/t Au (130m below surface)
Prospect Name
Margaret
Drill Results
MNRC269 – 5m @ 4.5g/t Au (incl. 2m @ 10.4g/t Au)
MNRC266 – 5m @ 3.6g/t Au (incl. 1m @ 17.6g/t Au)
Prospect Name
Eastern Link
Drill Results
MNRC311 – 3m @ 13.5g/t Au (incl. 1m @ 40.2g/t Au)
MNRC444 – 1m @ 71.9g/t Au
MNRC377 – 6m @ 4.1g/t Au (incl. 1m @ 23.2g/t Au)
MNRC309 – 3m @ 6.5g/t Au (incl. 1m @ 18.7g/t Au)
Prospect Name
Highway
Drill Results
MNDD032 – 10m @ 2.00g/t Au (incl. 3m @ 5.98g/t Au)
MNDD049 – 5m @ 5.16g/t Au (incl. 1m @ 11.50g/t Au)
Prospect Name
Kirsty
Drill Results
WBUG0124 – 0.8m @ 16.7g/t Au (125m below surface)
Prospect Name
Windy
Drill Results
AWAR2014 – 56m @ 0.90g/t Au (incl. 9m @ 3.13g/t Au)
AWAR3119 – 24m @ 1.25g/t Au (incl. 12m @ 1.87g/t Au)
MNAC0634 – 16m @ 1.00g/t Au (incl. 8m @ 1.38g/t Au)
Figure 5: Andy Well underground ore drive
Figure 6: Gold in underground development at Andy Well
Geology Summary – Gnaweeda Project
The project is located at the northernmost end of the north-south trending Archaean Gnaweeda Greenstone Belt which comprises a succession of metamorphosed mafic to ultramafic, felsic and metasedimentary rocks. Lithologies are dominated by dolerites with the best section of mineralisation hosted within a magnetic quartz dolerite which forms a discrete ‘double bullseye’ aeromagnetic anomaly. The magnetic dolerite is likely to represent a fractionated portion of a layered dolerite sill with a contribution of magnetite from alteration creating the anomaly within the hinge of the folded mafic. Mineralisation is currently defined along a 1.5km strike at Turnberry which forms part of the larger 5.5km gold anomalism. Mineralisation is widespread and occurs within multiple mineralised envelopes, but predominantly concentrated in interpreted fold closures and has a probable sub-vertical plunge. Mineralisation can often be visually indistinct owing to several styles of mineralisation being present and manifested differently depending on the lithology of the host rock. There are a number of unrelated shearing and veining events however gold is usually accompanied by an increase in disseminated pyrite.
Previous Exploration Summary – Gnaweeda Project
Prospects identified to date outside of existing the Mineral Resource include:
Prospect Name
St Annes
Drill Results
SARC005 – 20m @ 2.4g/t Au (including 8m @ 5.0g/t Au)
20GNRC002 – 7m @ 2.2g/t Au (including 1m @ 5.8g/t Au)
Chiddle Well
CWR096 – 7m @ 2.5g/t Au from 33m
Bunarra
BN003 – 10m @ 18.5g/t Au from 113m (including 4m @ 39.8g/t Au)
BBP11 – 6m @ 5.9g/t Au from 30m
BBP2 – 3m @ 4.1g/t Au from 24m
Prospect Name
St Annes
Drill Results
SARC005 – 20m @ 2.4g/t Au (including 8m @ 5.0g/t Au)
20GNRC002 – 7m @ 2.2g/t Au (including 1m @ 5.8g/t Au)
Prospect Name
Chiddle Well
Drill Results
CWR096 – 7m @ 2.5g/t Au from 33m
Prospect Name
Bunarra
Drill Results
BN003 – 10m @ 18.5g/t Au from 113m (including 4m @ 39.8g/t Au)
BBP11 – 6m @ 5.9g/t Au from 30m
BBP2 – 3m @ 4.1g/t Au from 24m
Mineral Resource Statement
Measured
Indicated
Inferred
Total
Project | Tonnes ('000t) |
Grade (g/t) |
Ounces ('000oz) |
Tonnes ('000t) |
Grade (g/t) |
Ounces ('000oz) |
Tonnes ('000t) |
Grade (g/t) |
Ounces ('000oz) |
Tonnes ('000t) |
Grade (g/t) |
Ounces ('000oz) |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Andy Well | 150 | 11.4 | 55 | 1,050 | 9.3 | 315 | 650 | 6.5 | 135 | 1,800 | 8.7 | 505 |
Turnberry | 6,800 | 1.6 | 355 | 4500 | 1.8 | 255 | 11,300 | 1.7 | 610 | |||
TOTAL | 150 | 11.4 | 55 | 7,850 | 2.7 | 670 | 5,150 | 2.4 | 390 | 13,100 | 2.6 | 1,115 |
ProjectAndy Well
Measured
Tonnes (‘000t)150
Au Grade (g/t)11.4
Au Ounces (‘000oz)55
Indicated
Tonnes (‘000t)1,050
Au Grade (g/t)9.3
Au Ounces (‘000oz)315
Inferred
Tonnes (‘000t)650
Au Grade (g/t)6.5
Au Ounces (‘000oz)135
Total
Tonnes (‘000t)1,800
Au Grade (g/t)8.7
Au Ounces (‘000oz)505
ProjectTurnberry
Measured
Tonnes (‘000t)
Au Grade (g/t)
Au Ounces (‘000oz)
Indicated
Tonnes (‘000t)6,800
Au Grade (g/t)1.6
Au Ounces (‘000oz)355
Inferred
Tonnes (‘000t)4,500
Au Grade (g/t)1.8
Au Ounces (‘000oz)255
Total
Tonnes (‘000t)11,300
Au Grade (g/t)1.7
Au Ounces (‘000oz)610
TOTAL
Measured
Tonnes (‘000t)150
Au Grade (g/t)11.4
Au Ounces (‘000oz)55
Indicated
Tonnes (‘000t)7,850
Au Grade (g/t)2.7
Au Ounces (‘000oz)670
Inferred
Tonnes (‘000t)5,150
Au Grade (g/t)2.4
Au Ounces (‘000oz)390
Total
Tonnes (‘000t)13,100
Au Grade (g/t)2.6
Au Ounces (‘000oz)1,115
Mineral Resources previously reported to the ASX on 18th May 2021.
Andy Well Mineral Resource is reported using 0.1g/t cut-off grade.
Turnberry Open Pit Mineral Resource is reported within a A$2,400/oz pit shell and above 0.5g/t cut-off grade.
Turnberry Underground Mineral Resource is reported outside a A$2,400/oz pit shell and above 1.5g/t cut-off grade.
Our Projects
MURCHISON GOLD PROJECT
1.1Moz gold Mineral Resource in world
class gold field
CIRCLE VALLEY
Bedrock gold occurrences