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Location: 39 km SE from Cloncurry, Queensland, Australia
Level 14, 309 Kent StreetSydneyNew South Wales, Australia2000
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Ausmex Mining Group Limited change the name of the Company to Tombola Gold Ltd.
On 27 October 2023, the DOCA was executed by Simon Cathro & Andrew Blundell (in their capacity as voluntary administrators of the Company), Goodsail Holdings Pty Ltd (“Goodsail”) and Tombola Gold Ltd (the Company).
Pursuant to the DOCA, Simon Cathro & Andrew Blundell have been appointed administrators of the DOCA (“Deed Administrators”). The Deed Administrators are responsible for the administration of the DOCA.
Tombola Gold Ltd. remain in suspension through the deed administration process.
The mineralisation at Mt Freda is concentrated in a west-northwest trending outcropping fault gouge extending over a length of about 600 metres, that dips steeply to the south. Geophysical surveys correlate with outcropping geology and indicate that a conductive feature runs approximately 2,000m under cover from within the Mt Freda pit, to the north west into EPM14163. Gold mineralisation is located on the contact of the Mt Norna formation with the overlying Toole Creek Volcanics. Drilling has defined the mineralisation to a depth of approximately 280 metres below surface, or about 220 metres below the floor of the existing open pit. The deposit lies in the Cloncurry district, which is characterised by Paleoproterozoic cover sequence rocks. Rock sequences in this zone are intruded by a number of metamorphic intrusions that are predominantly potassic in nature.Mt Freda displays an epithermal style of mineralisation, potentially stemming from a deeper mafic source, as defined by Emeritus Professor Ken Collerson. The mineralisation at Mt Freda is hosted in a volcano-sedimentary sequence predominately composed of basalts and sandstones. Mineralisation is not considered to be confined to a particular lithology.The mineralisation at Mt Freda, indicated by elevated gold grades, appears to be structurally controlled and is associated with shearing, brecciation and quartz veining. The majority of the mineralisation forms a single lens dipping around 75° on average towards the SSW. This zone pinches out along strike in both directions but is open at depth.
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