On June 19, 2024, Silver Lake advised that the merger between Silver Lake and Red 5 Limited by way of scheme of arrangement has now been implemented. All Silver Lake shares have been transferred to Red 5.
The Vault Minerals Limited has been decided as the new name of the merged Red 5 and Silver Lake.
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Summary:
The Mount Belches area is underlain by the Mount Belches greywacke and lies between the Mulgabbie and Kurnalpi terranes to the east and the Gindalbie and Kalgoorlie terranes to the west. The Mount Belches greywacke is bound by the Mount Monger Fault, the Randalls Fault (locally known as the Bare Hill Shear) in the west and the Avoca Shear in the east.
The Mount Belches greywacke forms part of a turbidite sequence which comprises biotite-bearing siltstones, sandstones and greywackes and BIFs.
The known gold deposits at Mount Belches are hosted within several metamorphosed BIF units that form a minor component of the Mount Belches greywacke. Two BIF packages are recognised: a poorly outcropping lower or ‘Maxwells’ package and an outcropping upper or ‘Santa-Craze’ package. Two facies of BIF are recognised in the upper and lower sequences: a magnetite– grunerite-rich6 facies and a magnetite-rich facies.
The gold mineralisation is developed in shallow to moderate south plunging shoots in quartz veins preferentially hosted in both facies of the BIF. Minor amounts of mineralisation are also located in the chloritic siltstones adjacent to these BIF units. Sufidation is the key chemical mechanism controlling gold precipitation, and the iron-rich BIFs present an ideal host. Pyrrhotite is the dominant sulfide and is accompanied by pyrite and arsenopyrite. From petrological analysis, these minerals formed as part of the same metamorphic paragenetic assemblage. Arsenopyrite is commonly present as well-formed crystals up to 1 cm in size.
Santa/Flora Dora
The ‘Maxwells’, CEB and ‘Flora Dora’ mineralisation is hosted within the lower ‘Maxwells’ member of the Mount Belches Group and the ‘Santa’ deposit is hosted within the upper ‘Santa’’ member. Both members are located in the southern Eastern Goldfields Superterrane, Yilgarn Craton. The iron formation is a silicate/oxide-facies unit with overprinting sulfides and has undergone metamorphism (upper greenschist facies) and deformation (two generations of folds). The gold deposits are hosted in both the hinge zone and along the limbs of a regional scale, chevron folded BIF package. Gold dominantly occurs as inclusions of native gold and/or electrum within or around pyrrhotite, magnetite, and arsenopyrite, and economic mineralisation is typically restricted to the BIF horizons.
Mineralisation consists of localised alteration of a series of sedimentological BIF units and iron-poor to iron-rich siltstones that had been previously altered by magnetite and chlorite. The mineralisation is defined by the abundance of arsenopyrite, pyrrhotite, (minor) pyrite, carbonate and quartz veinlets.
The Santa Mineral Resource model was extended towards south and west to include nearby Flora Dora mineralisation. The current combined model extents are 2,900 m strike length, 1,300 m across strike and 500 m down dip. The resource is open at depth.
Cock-eyed Bob
The Cock-eyed Bob is hosted within the upper ‘Santa Clause’ member of the BIF of the Mount Belches Group. The iron formation is a silicate/oxide facies unit with overprinting sulfides and has undergone metamorphism (upper greenschist facies) and deformation (two generations of folds). The gold deposits are hosted in both the hinge zone and along the limbs of a regional-scale, chevron folded BIF package.
Gold dominantly occurs as inclusions of native gold and/or electrum within or around pyrrhotite, magnetite, and arsenopyrite, and economic mineralisation is typically restricted to the BIF horizons. The Cock-eyed Bob complex’s resource has a strike length of 1,480 m. It is 416 m across strike, 660 m down dip and open at depth.
Maxwells
The Maxwells mineralisation is hosted within the lower ‘Maxwells’ member. The Mount Belches Group is located in the southern Eastern Goldfields Superterrane, Yilgarn Craton. The iron formation is a silicate/oxide facies unit with overprinting sulfides and has undergone metamorphism (upper greenschist facies) and deformation (two generations of folds). The gold deposits are hosted in both the hinge zone and along the limbs of a regional-scale, chevron folded BIF package.
Gold dominantly occurs as inclusions of native gold and/or electrum within or around pyrrhotite, magnetite, and arsenopyrite, and economic mineralisation is typically restricted to the BIF horizons. The Maxwells resource has a strike length of 2,020 m. It is 440 m across strike, 790 m down dip and open at depth.
Rumbles
The Rumbles mineralisation is hosted within the ‘Santa Clause’ member of the banded BIF of the Mount Belches Group located in the southern Eastern Goldfields Superterrane, Yilgarn Craton. The iron formation is a silicate/oxide facies unit with overprinting sulfides and has undergone metamorphism (upper greenschist facies) and deformation (two generations of folds). The gold deposit is hosted in the hinge zone of a regional-scale, chevron folded anticline. Gold dominantly occurs as inclusions of native gold and/or electrum within or around pyrrhotite, magnetite, and arsenopyrite, and economic mineralisation is typically restricted to the BIF horizons.
The Rumbles resource has a strike length of 1,100 m. It is 700 m across strike, 400 m down dip and open at depth.