Australia

Drake (Mt Carrington) Project

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Overview

Mine TypeOpen Pit
 Archived Information
Commodities
  • Gold
  • Silver
  • Zinc
  • Copper
Mining Method
  • Truck & Shovel / Loader
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SnapshotOn 21 March 2023, White Rock announced that Thomson Resources Ltd had withdrawn from the Joint Venture over Mt Carrington (now the Drake project).

Without the means to pay the Rehabilitation Bond increases White Rock had no option other than to surrender its rights. Accordingly, White Rock has lodged documents with Mining, Exploration and Geoscience, Department of Regional NSW to surrender all the Mining Leases, Mining Purposes Leases, Gold Leases and Special Leases that make up the Mt Carrington Project.

All in all, 22 authorities were included in the surrender documentation. White Rock retained an Exploration Licence (EL6273) and has agreed to sell that tenement to Legacy Minerals Holding Ltd.

Acquisition of the Mt Carrington EL6273 by Legacy Minerals – renamed as the Drake Project.

Legacy Minerals will complete the evaluation of the historical data at the Drake Project with a view to defining high conviction drill targets for testing in 2024.

Owners

SourceSource
CompanyInterestOwnership
Legacy Minerals Holdings Ltd. Indirect
White Rock Minerals Ltd. Indirect
White Rock (MTC) Pty Ltd (MTC) is a wholly owned subsidiary of White Rock Minerals Limited (WRM). MTC held the Mining Licenses and an Exploration License that comprised the Mt Carrington project.

At a meeting of creditors on 3 Nov 2023 the motion to wind up MTC was passed.

Documentation to surrender the Mining Licenses has been lodged with Mining, Exploration and Geoscience, Department of Regional NSW (MEG). The Exploration License has been sold to Legacy Minerals Holdings Limited, and WRM have been informed that MEG have authorised the transfer, but at the date of this announcement (11/15/2023) the final payment of $170,000 due to MTC had not yet been made.

Details of Transaction:

1. A$30,000 refundable cash deposit (“Deposit”) payable by the Legacy Minerals’ wholly owned subsidiary (GPM) to WRM within fourteen days of 18 July 2023;

2. A$170,000 cash payable by GPM to WRM on the completion date.

Contractors

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Deposit type

  • Epithermal
  • Vein / narrow vein
  • Breccia pipe / Stockwork

Summary:

The Mt Carrington deposits are hosted by the Drake Volcanics; a NW-trending 60km x 10km Permian bimodal volcano-sedimentary sequence within the Wandsworth Volcanic Group near the north-eastern margins of the southern New England Fold Belt.

The Drake Volcanics overlie or is structurally bounded by the Carboniferous to Early Permian sedimentary Emu Creek Formation to the east and bounded by the Demon Fault and Early Triassic Stanthorpe Monzogranite pluton to the west. The sequence is largely dominated by andesite and equivalent volcaniclastics, however basaltic through to rhyolitic facies stratigraphic sequences are present, with numerous contemporaneous andesite to rhyolite sub-volcanic units intruding the sequence. The Razorback Creek Mudstone underlies the Drake Volcanics to the east, and Gilgurry Mudstone conformably overlies the Drake Volcanic sequence. In addition, Permian and Triassic granitoid plutons and associated igneous bodies intrude the area, several associated with small scale intrusion-related mineralisation. The Drake Volcanic sequence and associated intrusive rocks are host and interpreted source to the volcanogenic epithermal Au-Ag-Cu-Pb-Zn mineralisation developed at Mt Carrington. The majority of the Drake Volcanics and associated mineralisation are centred within a large scale circular caldera with a low magnetic signature and 20km diameter.

The Strauss and Kylo deposits are low sulphidation epithermal vein type mineralisation that manifests as a zone of stockwork fissure veins and vein breccia associated with extensive phyllic to silicic alteration. Veining is localised along the margins of an andesite dome/plug and lava flow within a sequence of andesitic volcaniclastics (tuffaceous sandstone and lapilli tuff). Economically mineralisation is Au-dominant with minor Ag and significant levels of Zn, Cu & Pb.

Mineralisation at Strauss occurs as a broad zone of stockwork veining that narrows with depth. Within the stockwork zone there are two dominant vein orientations: near vertical north trending veins and bedding parallel veins striking north-east and dipping approximately 20° towards the southeast. Recent drilling intersected the vertical veining at 20° to 40° and the bedding parallel veining at 70° to 90°. The mineralisation at Strauss strikes NNE to SSW and extends approximately 360 m in this direction, with a vertical extent in excess of 130 m. The across strike extents of the mineralisation is approximately 200 m. The individual mineralisation lenses generally range in thickness from 2 m to up to 15 – 20 m true thickness.

The mineralisation at Kylo can be divided into two zones, Kylo West and Kylo North.

Mineralisation at Kylo North occurs as a broad zone of stockwork veining that is dominated by near vertical north trending veins focused on the near vertical north trending andesite-volcaniclastic contact. Most drilling typically intersected mineralisation at approximately 20° to 40°. The mineralisation wraps around the eastern edge of the porphyry with a change in strike to NNE-SSE and a steep dip to the west. The mineralisation extends up to 140m along strike with a similar dip extent (140m). Widths range from 2 – 5 m true thickness at the down dip extensions of the mineralisation to more than 90 m in the upper parts of the deposit.

Mineralisation at Kylo West occurs as two parallel zones of stockwork veining that strike east-west and dip 70° towards the south. Most drilling typically intersected mineralisation at approximately 30° to 70°. At Kylo West, the mineralisation is comprised of two subparallel zones striking E-W with a steep southerly dip, related to a porphyry intrusive contact. The main mineralised zone has a strike length in excess of 300m, with a dip extent of up to 150m. The mineralised zone varies from 2m to more than 40m true width, with much of the mineralisation being between 10 – 20m wide.

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Comminution

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Processing

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Production

CommodityUnitsAvg. AnnualLOM
Gold koz 36166
All production numbers are expressed as metal in doré.

Operational metrics

Metrics
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* According to 2020 study.

Production Costs

CommodityUnitsAverage
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* According to 2020 study / presentation.

Operating Costs

Currency2020
OP mining costs ($/t milled) AUD 16.8 *  
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* According to 2020 study.

Project Costs

MetricsUnitsLOM Total
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Heavy Mobile Equipment

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Personnel

Mine Management

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