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Location: 210 km W from Townsville, Queensland, Australia
Suite 3, Level 1 5 Gardner ClosePO Box 2309MiltonQueensland, Australia4064
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The Steam Engine Gold Project hosts mesothermal orogenic style lode-gold deposits associated with quartzsulphide alteration within strongly foliated shear zones hosted by metabasalt (Steam Engine Lodes) and metasediment/metadiorite (Eastern Ridge lodes). Lodes strike on average to 030° at Steam Engine and 022° at Eastern Ridge, although there is some variation in strike along their length. Both lode systems dip to the northwest at around 55°- 60°. Oxidised to partially oxidised material occurs to an average depth of around 15 m over both Steam Engine and Eastern Ridge.The Steam Engine Gold Deposit is located within the Company’s greater Greenvale Project and is hosted within a belt of metamorphosed volcanic and sedimentary rocks of probable Cambro-Ordovician age.At the Steam Engine Gold Deposit, gold is mineralised within a number of north-northeast trending, westdipping pyritic quartz-muscovite-carbonate schist lodes within metamorphosed intermediate to basic intrusives and metasediments. The metamorphosed host rocks have been intensely chlorite–epidote altered in the vicinity of the mineralised shear zones.Additionally, the mineralisation appears loosely associated with intense sericite altered zones with variable silicification and are generally mappable when surface exposure is good.The gold mineralisation is associated with a sulphide mineral assemblage comprising pyrite, minor arsenopyrite, pyrrhotite, and chalcopyrite (all fine grained). Gold is mineralised within schistose lodes of which, the Steam Engine Lode is the most notable.The Steam Engine Lode has an outcrop strike length of approximately 500 metres and a further 800 metres that does not crop out at surface has been identified to the north by drill holes. The Eastern Ridge lode is located approximately 500 metres east of the Steam Engine Lode. The Eastern Ridge lode has a surface strike length of approximately 1,400 metres.The gold mineralisation is interpreted as mesothermal lode type. The Company considers that the gold mineralisation is most similar to the orogenic style.The gold bearing lodes are developed within shear zones and show strong continuity and a persistent dip to the west. The Steam Engine lode typically dips from 50° to 60° to the West. The Eastern Ridge lode typically dips from 45° to 55° to the West.The Steam Engine Lode system is modelled as four estimation domains. The Main domain is the most continuous and comprises a high-grade zone of >1 g/t Au within a mostly broader lower grade (0.3 – 1 g/t Au) halo. The lower grade zone may either be on the hangingwall or footwall side of the high grade zone or absent altogether. A footwall zone at the southern end and a hangingwall zone at the northern end of the Main zone are both of lower grade and shorter strike extent than of the Main zone.The Eastern Ridge Lode system comprises two separate veins slightly offset from one another separated by a short gap, named the North and South lodes. The North lode is higher grade than the South lode and contains two north-plunging higher grade and slightly thicker ‘shoots’.DimensionsIdentified mineralisation at the Steam Engine Gold Project is contained within two lode systems approximately 600 metres apart. The Steam Engine Lodes are modelled over a total strike length of 810 metres to a maximum down-dip extent of 275 metres (240 m vertical depth). True width of the Main lode varies from 1 metre to 20 metres with an average of 6.5 metres. Hangingwall and Footwall lodes have a strike extent of 185 metres and 115 metres respectively.The Eastern Ridge Lodes are modelled over 600 metres along strike to a maximum down-dip extent of 120 metres (100m vertical depth). True width of the North and South lodes varies from <1 metre to 10 metres with an average of 3.5 metres.
The Scoping Study considers all aspects of developing and operating one or more open pit mines for the extraction of gold-bearing ore from the Project and then processing that ore to produce gold doré.Two contrasting processing scenarios are assessed:1. “Toll Treatment” - represents the scenario where mined ore is hauled from the Project site to a thirdparty processing plant for the treatment of the ore through that facility. Gold production is reconciled and a tolling fee is paid and settled with the third party at the toll treatment facility.2. “Stand-Alone Processing” - represents the construction and operation of a gold processing plant of appropriate capacity at the Project site. Such a plant comprises crushing, grinding, gravity separation, leaching and bullion production circuits and an associated tailings and waste rock storage facility at the Project Site. Ore is processed through this plant, removing the need for haulage costs and the profit marg ........
