Summary:
Magnetic propose to develop a gold mining operation incorporating the Lady Julie North 4 (LJN4), Lady Julie Central 9 (LJC) and Hawks Nest 9 (HN9) deposits.
HN9
Mineralisation at HN9 is interpreted to extend approximately 3km along strike and to be hosted within a north-northwest-trending shear with an inflection to south-southwest-trending to the south. Mineralisation is intermittently exposed along a series of old diggings some 2km in extent. The inferred shear zone transects a series of north–south to NNE–SSW-striking mafic-hosted porphyry dykes that dip at 20-25 degrees to the east-north east. Gold mineralisation frequently, but not exclusively, is along or proximal to the mafic–porphyry contacts.
LJC
Mineralisation at LJC, situated to the east of HN9, is also hosted along the contact between mafic volcanics and ultramafics. The deposit has a moderately southeast-plunging shoot-like geometry, generated via the intersection between multiple orientations of felsic–dacitic porphyries and shear zones.
Modelling of the lithologies across the Lady Julie area shows that porphyries intruding the mafic– ultramafic sequence are broadly north–south trending, with deviations to north-northwest trending. RC drilling data focused around LJC constrains the porphyries there as more diversely oriented. Here, some of the more planar porphyry bodies are locally northeast–southwest striking and dipping 60 degrees east.
LJN4
The LJN4 deposit is situated in an area of deep weathering and extensive transported cover with no outcrop. Modelling of the lithologies intersected in drilling shows a footwall sequence of serpentinised ultramafics, in places sheared to talc–tremolite and chlorite–tremolite schists. This footwall sequence is overlain by sedimentary rocks comprising mostly carbonate (limestone) and chert with minor carbonaceous and non-carbonaceous shale. Irregular lenses of ultramafic occur within the sediments. There is some evidence from multi-element geochemistry that the limestone has been dolomitised in places. Recent drilling shows a sequence of basalts overlies the sediments to the east. This whole sequence, which dips moderately (45-50°) to the east, is intruded by a series of felsic porphyry dykes, which also dip at various angles to the east.
Three high grade core zones have been defined. The southern core zone 1 is 300 x 200m in size and is associated with multiple breccia lodes. High-grade core zone 2 is 150m x 600m and is associated with silicified and fuchsite-altered ultramafic lodes.
The newly defined most 40 northern high-grade core 3 is 150m x 500m and has similar alteration to core 2. High-grade core zone 3 remains open at depth and is being tested with a deeper extension hole MLJDD084.
The red outlined area outlines 287,000ozs that was not included in the current Feasibility study. Also, new hole MLJDD081 has intersected 17m at 3.01g/t from 497m including 10m at 3.75g/t from 497m and is being further investigated for potential extension of the 287,000ozs outlined zone.
Mineralisation
Gold mineralisation at HN9 and LJC is broadly similar, comprising structurally controlled quartz veining and shearing with minor pyrite along or adjacent to mafic–porphyry contacts but also including quartz stockworks within porphyry in places. Mineralisation at LJN4 is quite different and comprises multiple lodes in two main styles associated with the Chatterbox Shear Zone: a brittle domain hosted in the sedimentary carbonate in the southern part of the deposit consisting of quartz veining and breccias with silica-pyrite alteration; and a ductile domain in the northern part of the deposit consisting of silicified, quartz veined and partly fuchsite-altered ultramafic. A third subordinate style occurs in carbonate and minor black shale above these main lodes, consisting of structurally controlled irregular pyrite replacements.
Lady Julie: Various shear-controlled mineralization styles including silicified and stockworked felsic porphyry, silicified and stockworked ultramafic, and breccia zones and silicapyrite alteration mainly within carbonate.
HN9: Two mineralization styles have been observed: quartz veining and stockworking in felsic porphyries and shearhosted quartz veins on porphyry-amphibolite contacts.
LJN4: Shear-hosted mineralisation in two main domains; brittle domain within sedimentary carbonate typified by breccias and/or silica-pyrite; and a ductile domain within the underlying ultramafic rocks comprising silicification, quartz veining and fuchsite alteration. A third subordinate style comprises pyrite replacements in carbonate in the hangingwall above the main shear zone.
Mineralisation widths at LJC and LJN4 are interpreted to range from 70% to 95% of true width.
Mineralisation widths at HN9 are interpreted to range from 80% to 100% of true width.
Dimensions
The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource. LJN4 exists as a series of shallow E dipping lenses with a strike length of 750m, thickness of 100m, and continuing from near surface to depths below surface of 700m – it remains open at depth. LJC is similar but smaller with a strike length of 300m and final depth below the surface of 150m. HN9 is generally a single shallow NE dipping structure with strike length of 1km, width of 10-30m and depth below surface of 100m.