Yandal West

Location And Overview

The Yandal West gold project is located within the world class Yandal gold belt (fig 1), approximately 55km north of the Bronzewing gold deposit (3.5Moz) and 60km south of the Jundee gold mine (10Moz).

In 2017, Great Western acquired 100% of the Ives Find goldfield, as part of the Vanguard Exploration Limited (“Vanguard”) acquisition, and 80% of the Harris Find goldfield. This is the first time that both goldfields have been consolidated into one project. Previously the area had a long history of fragmented ownership that resulted in the lack of systematic exploration that it required and as a consequence very limited RC drilling was carried out.

 
Figure 1. Location of Yandal West project.

Figure 1. Location of Yandal West project.

 

In February 2017, Great Western undertook a limited RC program at Ives Find to understand the nature of the gold mineralisation in the area. The drilling intersected high-grade gold mineralisation within a promising geological setting that has similarities to other major gold deposits in the region including Bronzewing and Jundee.

Satisfied that similar mechanisms observed at other major gold deposits elsewhere in the Yandal belt are also present at Yandal West, the Company commenced a program of systematic exploration.

This work resulted in the discovery of a 9km gold-in-soil trend that contained an extensive 3.5km x 1.5km gold anomaly (> 20ppb gold) at May Queen of which about 3km contains strong gold anomalism greater than 20ppb (fig 3).

Figure 3. The 9km gold trend at Yandal West co-incident with Newexco's interpreted main fault from the detailed aeromagnetic data.

Figure 3. The 9km gold trend at Yandal West co-incident with Newexco's interpreted main fault from the detailed aeromagnetic data.

Figure 4. Soil contours at May Queen showing peak soil values. There are four highly anomalous areas greater than 100 ppb gold (dark purple) that includes ones area that has a strike length of about 1,000m.

Figure 4. Soil contours at May Queen showing peak soil values. There are four highly anomalous areas greater than 100 ppb gold (dark purple) that includes ones area that has a strike length of about 1,000m.

In November 2017, the Company revealed assay results from Phase 1 of its maiden, RC drill program at Yandal West, which confirmed a large-scale gold system.

The Phase 1 results identified key controls on zones of higher grade gold mineralisation, highlighting priority targets for Phase 2 of the RC drilling program.

Phase 1 results have confirmed a large gold system with all four drill lines intersecting wide zones of gold mineralisation with strong grades.

Highlight results include:

HFRC019: 24m @ 1.51 g/t gold (including 4m @ 5.68 g/t gold & 4m @ 2.63 g/t gold) from 12m
HFRC019: 16m @ 1.24 g/t gold (including 4m @ 3.43 g/t gold) from 60m
HFRC005: 20m @ 1.63 g/t gold (including 4m @ 6.19 g/t gold & 4m @ 2.8 g/t gold) from 52m (HFRC005 ended in mineralisation)
HFRC015: 12m @ 1.17 g/t gold (including 4m @ 4.07 g/t gold) from surface
HFRC022: 12m @ 0.57 g/t gold (including 4m @ 1.24 g/t gold) from 56m

*Samples are 4m composites; intervals are downhole only and calculated using 0.1 g/t Au cut-off

Prospectivity

May Queen Anomaly

  • A robust 3.5km long gold-in-soil anomaly at May Queen containing 4 highly anomalous areas greater than 50ppb gold, including one area that has a strike length of 1.2km with a core greater than 100ppb gold that is approximately 800m in length.
  • The May Queen soil anomaly is co-incident with highly prospective geophysical structural target identified in the detailed aeromagnetic survey.
  • This gold trend is very well defined and cross cuts geological boundaries indicating it may be a large gold system related to a significant structural setting. Field investigations in the southeast of the project have identified veining and shearing associated with this gold trend.
  • The anomaly is also coincident with a high priority aeromagnetic target.

At May Queen there is also correlation with silver and for this reason the Company believes drill hole HFRC013 is also a high priority as it intersected 4m @ 12 g/t silver at the end of hole (84m to 88m). Furthermore, this was the most western hole on the middle line and may represent a further mineralised structure.