Mt Magnet leases 100% owned by Mt Magnet Gold Pty Ltd, a wholly owned subsidiary of Ramelius Resources Limited.
Penny is owned 100% by Ramelius Resources Limited subsidiary Penny Operations Ltd.
Cue is owned by Mt Magnet Gold Pty Ltd, a wholly owned subsidiary of Ramelius Resources Limited.
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Summary:
The Mt Magnet production centre includes the multi pit / underground projects.
Mt Magnet
Archaean gold mineralisation. Mineralisation is principally hosted within Banded Iron Formations (BIF) where gold is spatially associated with NE trending faults and associated with pyrrhotite or pyrite mineralisation. Additionally, gold is commonly found in late stage felsic intrusives or structurally controlled zones which cross-cut stratigraphy on NE trend. Interpretation for Mt Magnet resources is based on a long-history of exploration, open-pit and underground mining. Numerous geological interpretations, pit fact maps and reports exist & almost all resources (except Eridanus) have been previously mined.
Dimensions
Numerous variations. Examples: Saturn pit cutback 700m long, 350m wide & 190m deep. Main Saturn BIF hosted ore zone strikes length of pit, is 5-30m wide, subvertical and drilled to 350m vertical depth. Higher grade zones typically occurring as vertical shoots in BIFs. Minimum width in resource interpretations generally 3-4m, example Golden Stream narrow sub-vertical BIF hosted resource over 270m strike length, drilled to 90m down-dip.
Penny
The Penny deposit lies within the Archaean-aged Youanmi greenstone belt. Host stratigraphy for the deposit is a sequence of steeply dipping mafic and ultramafic rocks with minor felsic intrusives. Gold mineralisation is associated with steeply east dipping, quartz-sulphide veins typically 1m to 4m in width. The lodes are visually distinct and typically display sharp boundaries to the mineralisation. Minor zones of discontinuous mineralisation occur in the hanging wall of the main lodes, although these veinlets and structures are considered immaterial and have been excluded from the resource estimation.
The mineralised lodes are largely hosted within the granodiorite unit or at the granodiorite-amphibolite contact. The lodes appear to slightly cross-cut stratigraphy and transgress into the amphibolite unit toward the north. Although the Penny West and Penny North lodes are spatially separate and offset by approximately 60m in a general northeast direction, a similar stratigraphic setting and transgression occurs for both lodes. Immediate wall rocks are typically mylonitic with some albite and sericite alteration.
The gold mineralisation at Penny is hosted within a persistent, narrow, steeply east dipping (65° to 80°) quartz-sulphide lode containing both disseminated and coarse gold with grades ranging up to hundreds of grams per tonne. The Penny North lode extends over 400m in strike while Penny West extends nearly 300m. Penny North varies in thickness from 1 to 4m. The Penny West vein is slightly thinner, ranging from 1 to 3m in width.
Both quartz veins are variably massive, laminated or brecciated with a highly variable sulphide assemblage of pyrite, pyrrhotite, galena, chalcopyrite and sphalerite. Some sulphide zones are semi-massive and can comprise 50 - 90% sulphide. Visible gold can be seen proximal to galena and sphalerite. Pb anomalism is significant with lode Pb grade up to 1%. Ag grade is also significantly higher than typical Archaean lode gold deposits and can be up to a 1:1 ratio with Au.
Dimensions
Penny lodes are a narrow vein/lode style. Penny North strikes N and dips 55° to E. Average width around 2-3m, ranging from 1m to 6m. Strike and dip extent of Penny North is 400m by 250m. Penny West is similar to Penny North in orientation and extent with an average width ranging from 1-2m. Strike and dip extent of Penny West is 300m by 200m below the open pit.
Cue
Mineralisation in the BOD and White Heat (WH) areas is found in the Starlight Basalt stratigraphic unit. The area has experienced alteration associated with the BOD Shear Zone, which trends N-S parallel to the stratigraphy. Veining exists both parallel to, and oblique to the main shear zone, leading to the interpretation of a multi-stage development history, with a complex gold distribution.
Lena mineralisation is associated with the Lena Shear, a 100m wide zone of deformation, to the west of and parallel to the BOD Shear Zone. The Lena Shear Zone consists of a highly strained sequence of high-magnesium basalts, ultramafics and iron rich sediments that have been intruded by numerous phases of felsic dykes.
The Big Sky mineralisation comprises quartz lodes hosted within a foliated and altered sedimentary and mafic stratigraphic sequence and intruded by felsic porphyries. Discrete zones of mineralisation are typically 1m to 15m in thickness and strike north-south. The gold mineralised zones typically dip steeply to the west. A total of 53 separate mineralised zones were interpreted.
Mineralisation at Amarillo occurs in the sedimentary and felsic package located to the west of the Lena Shear Zone. The Amarillo Resource is found on the same trend as the Big Sky Resource to the south.
Mineralisation at the Leviticus deposit is typically 1-8m wide, independent of rock type and is hosted within foliated mafic rocks, with minor felsic intrusions. Mineralisation at Leviticus dips steeply to the east and no plunge has been identified. The deposit has a strike length of just under 200m and extends 120m below surface. Weathering occurs to a depth of 20-45m, and fresh rock commences 5-10m deeper. Most of the deposit is in oxidised or partially oxidised rock.
The Waratah deposit is approximately 400m east of Break of Day and runs parallel to the Lena-BOD corridor. The mineralised trend is interpreted to extend for over 1.2km of strike, with gold mineralisation identified in multiple separate zones, the longest continuous zone is approximately 400m in strike. The mineralisation is dipping steeply west and hosted within a BIF, the mineralisation is typically hosted within the hanging wall and footwall. The BIF is part of the ultramafic and dolerites sequence typical in the area. The deposit remains open down plunge. Weathering occurs to a depth of 20-45m, and fresh rock commences 5-10m deeper. Most of the deposit is in oxidised or partially oxidised rock.
Dimensions
• Break of Day: NW-SE striking with lengths of 50-130m, a steep (+75°) dip to the SW and thicknesses of 2-12m and N-S striking with lengths of 30-190m, a steep (+80°) dip to the East and thicknesses of 2-8m;
• White Heat: NW-SE striking with lengths of 30-140m, a steep (+75°) dip to the SW and thicknesses of 1-10m and NE-SW striking with a length of 120m, a steep (+75°) dip to the SE and thicknesses of 1- 5m;
• Lena: NE-SW striking with lengths up to 720m, a steep (+80°) dip to the West and thicknesses of 1-15m;
• Leviticus: N-S striking with a length of 160m, a steep (+70°) dip to the East and thicknesses of 2-8m;
• Numbers: N-S striking with lengths of 140-300m, a steep (+75°) dip to the East and thicknesses of 2-10m;
• Big Sky: N-S striking with lengths of 100-590m, a steep (+80°) dip to the East and thicknesses of 1-5m;
• Waratah: NE-SW striking with lengths of 75-380m, a steep (+80°) dip to the West and hicknesses of 2-5m;
• Amarillo: N-S striking with lengths of 100-460m, a moderate (+65°) dip to the East and thicknesses of 1-10m.