Figure 3. A Long-Section of the Sirdar Mine showing mineralisation associated within intrusive rocks

Figure 2. A long-section of the old Maori Queen Mine showing the mine working and drill hole intersections around it.

Figure 1. Compilation plan showing existing gold soil geochemical anomalism, historic IP (Induced Polarisation) trends, existing prospects and all drill hole collars with some of the peak drill intersection results shown.

(Information updated 1 September 2020)


The Mt Cattlin Gold Project was secured on 22 July 2020, following agreement with Galaxy Resources Ltd to dissolve the existing joint venture over the same ground. The new agreement granted Traka the gold and other metal rights whilst Galaxy retained the rights to lithium and tantalum associated with pegmatites.


The Mt Cattlin Gold Project has a long history of gold mining activity from numerous small mines worked at the turn of the century. Total production of 23,006 tonnes @ 24.56 g/t Au was recorded for these mines. Several generations of modern-day exploration activity, which included geochemistry and geophysical surveys plus drilling, was initiated in the 1980’s but ceased in 2004.  The exploration programs highlighted that the old mines occurred along north-east trending mineralised shears, each trending over several kilometres in length (Figure 1). The old mines were developed where mineralisation came to surface as gossans and could be readily seen (Figure 2). Exploration indicated good scope for more discoveries along the shears where mineralisation was not readily seen on surface.


In addition to the opportunities in shear hosted positions there is also recognition that gold also occurs within quartz-stockwork veined intrusives (Figure 3). The extent of intrusive related gold mineralisation is not well understood but the presence of this style of mineralisation on the project augers well for the discovery of mineralised bodies with very favourable mining characteristics.


Traka was the last company to undertake exploration activity at the Mt Cattlin Gold Project but despite the encouragement at the time, ceased work because the gold price was in the low US$400s. With the gold price now close to US$2000 the opportunity to bring this project to economic levels is significantly improved.


The recommencement of exploration activity, initially comprising high-resolution geophysical surveys, is scheduled to start within the month. This work will assist in the location of high-grade mineralisation along the shears as well as the position of the mineralised intrusives.  The follow-up drill program will be directed towards resource definition work on some of the known targets and the remainder towards testing new targets. Drilling is scheduled to commence in November 2020.   

 




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