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 Aldiss Mining Centre includes the Karonie, Tank/Atreides and French Kiss projects.
The Aldiss area lies on the eastern margin of the Eastern Goldfields Greenstone Province (EGGP) where Archaean volcano-sedimentary sequences are juxtaposed against granitoid-gneissic terranes. The province is characterised by an interconnecting series of north-northwest trending greenstone belts surrounded by ovoid to elongate granite batholiths. The province differs from adjacent provinces in that it contains a higher proportion of komatiites and a lower proportion of BIF units. The overall stratigraphic succession in the greenstone of the EGGP is characterised by a lower sequence dominated by mafic to ultramafic volcanic and intrusive units, overlain by more felsic volcanics and an upper sequence dominated by felsic sedimentary units of clastic and chemical origin. Structurally the greenstone sequences record a protracted history of deformation that has produced steeply west dipping and north-northwest striking lithological contacts and a well-developed foliation that trends in the same direction.
The Aldiss Mining Centre covers an area to the east of the Aldiss Fault, a regional-scale shear zone located on the eastern margin of the EGGP, near the contact with the Erayinia Granite Suite. As is generally the case in the Eastern Goldfields, much of the Archaean geology is concealed.
The geology of the area consists of a sequence of north-northeast trending amphibolites and associated metasediments. The rock has a strong metamorphic overprint, generally obliterating the pre-metamorphic textures. The lithologies hosting the Harrys Hill deposit are mid- to uppergreenschist facies alteration that is prominent elsewhere in the Eastern Goldfields. The mineralisation host is a quartz amphibolite, but varies in composition from more mafic varieties, with up to 80% hornblende, to leucocratic varieties with more abundant (up to 20%) interstitial quartz and feldspar. The quartz amphibolites are intercalated with quartz-feldspar-biotite marker units between 0.5 m and 3 m thick. Many marker units appear to have a spatial relationship with mineralisation as they are often observed to flank the ore zones.
Two alteration styles are evident at Harrys Hill. A zone of pale green calc-silicate alteration loosely forms a halo around the deposits. Alteration mineral assemblages include diopside, carbonate (calcite), titanate, epidote, sericite and lesser chlorite. Biotite alteration pervasively replaces hornblende, especially in the ore zones.
Gold mineralisation occurs almost exclusively within the quartz amphibolites and occurs dominantly as native gold. The habit of the native gold is as coarse interstitial grains, located along hornblende and quartz grain boundaries or included within the hornblende grains along cleavage. Sulfides are present, with pyrite subordinate to pyrrhotite and lesser chalcopyrite and minor molybdenite. Gold mineralisation is not associated with the sulfides in any way, which is unusual. Mineralisation also occurs within the metasediments but appears to be related to a late-stage event. Visible gold within quartz veins, microscopic gold adjacent to quartz veins and gold associated with minute shear zones suggest that the mineralisation is structurally controlled.
Atreides/Tank South
The Aldiss area gold mineralisation lies within a north trending ductile shear zone as Karonie Main and West Zones, Spice, Atreides and Tank. It consists of a series of sheared amphibolite facies, mafic rocks, with remnant veining and late-stage faulting. Several ‘late stage’ porphyries intrude the host rock. A north-northwest trending barren thin porphyry intrusion cross-cutting ore zone has been mapped and modelled in the area.
Mineralisation at Spice, Atreides and Tank is associated with several thin, (sub)vertical shear zones within a sequence of volcano-sedimentary amphibolites and associated metasediments. Subvertical shear zones are typically 3–18 m thick and dip steeply either towards east or west. Shear zones are associated with minor quartz veining, silica + epidote + haematite alteration and minor pyrite and pyrrhotite. Minor gold values coincide with the above-mentioned shear zones, but also within generally inconspicuous, slightly foliated, slightly chloritised amphibolites. There is a thin (1–3 m) supergene enrichment zone at the transition between Lower saprolite and fresh rock.
The Tank-Atreides resource consists of seven individual domains delimited by a nominal grade of approximately 0.25 g/t. The Tank-Atreides resource has a strike length of 1,850 m. It is 800 m across strike, 325 m down dip.
French Kiss The French Kiss project lies on the eastern margin of the EGGP where Archaean volcano-sedimentary sequences are juxtaposed against granitoid-gneissic terranes. The province is characterised by an interconnecting series of north-northwest trending greenstone belts surrounded by ovoid to elongate granitoid batholiths. The geology of the French Kiss area consists of a sequence of north-northwest trending amphibolites and associated metasediments. The rock has a strong metamorphic overprint, generally obliterating the pre-metamorphic textures. The lithologies hosting the French Kiss deposit are mid to upper amphibolite facies and a much higher metamorphic grade than the greenschist facies that is prominent elsewhere in the Eastern Goldfields.
Gold mineralisation occurs almost exclusively within the quartz amphibolites and occurs dominantly as native gold. The habit of the native gold is as coarse interstitial grains located along hornblende and quartz grain boundaries or included within the hornblende grains.
The French Kiss resource has a strike length of 840 m strike. It is 800 m across strike, 300 m down dip and open at depth.