Gundagai gold-copper project (100% Godolphin)
There are three tenements within the Gundagai Project; EL8061 (Gundagai South), EL8586 (Gundagai North), and EL8889, totalling around 278 km², located near the town of Gundagai.
This area has a long history of mining and hosts abundant historical workings, mainly for gold, but also minor copper. There are no current mining activities or reportable Mineral Resources located within these tenements or adjacent areas.
Due to the past mining activities, exploration within the area commenced in the mid-1960s and has essentially continued at a low level since.
The area is prospective mainly for orogenic gold and Intrusive Related Gold Systems, but also has the potential for VHMS and porphyry hosted gold-copper deposits.
The area has long history of mining and prospecting. The first gold rush within the Gundagai and Adelong area was recorded in 1848, based on both alluvial and outcropping veins. The Gundagai-Adelong goldfield was considered to be within the top ten producers for the period from 1848 to mid-1900s (Hatfield, 2007). There were numerous small mines previously worked for gold, copper, lead, zinc, chromium, magnesite, barite and manganese. There have also been noted occurrences or exploitation of asbestos, silica and talc. At the present time there are no current mining activities taking place in the area.
Rocks within the tenement consist of the Cambrian to Silurian oceanic crest, Early Silurian Tumut Trough and Late Ordovician Molong Volcanic Arc, all part of the eastern Lachlan Fold Belt. The oceanic crustal material includes; serpentinites, basalts and cherts. The Tumut Trough material is characterised by felsic volcanics, feldspar porphyry intrusives and basinal sediments. Early Devonian uplift was accompanied by felsic intrusives and rhyolitic volcaniclastics.
Late stage alluvial and colluvial cover sediments (part of the Tertiary Murray-Darling Basin) are present, mainly along and adjacent to the Murrumbidgee River.
Overall the area sits within the north-northwest trending Tumut Synclinorial Zone which is bounded to the east by the Mooney Thrust and to the west by the Gilmore Fault (Suture) Zone.
Most of the alteration noted by previous workers was alteration associated with porphyritic intrusions. This ranges from high temperature potassic and phyllic alteration through to chlorite-sericite-carbonate alteration.
Most of the gold deposits in the region have been classified as orogenic or shear hosted. Later workers have postulated that some of these deposits, due to the relationship with porphyry dykes and the presence of quartz-biotite veins, are in fact Intrusion Related Gold Systems. The base metal-gold deposits are considered to be VHMS.
There are no current reportable Mineral Resources located on this tenement.
Historical mining activity and recent exploration has shown that the Project contains numerous mineralisation types. These include; orogenic gold and/or IRGS, hydrothermal gold, porphyry hosted gold-copper, alluvial gold and VHMS.
Previous work carried out around existing workings tends to show that mineralisation in these areas is narrow and of limited extent. However, the potential exists for deeper large tonnage lower grade orogenic and/or IRGS gold systems, especially around porphyries that show alteration assemblages that are indicative of these styles of mineralisation. Detailed analysis of multi-element geochemistry will assist in targeting the more prospective areas.
Recent activities conducted by Ardea around the Big Ben Trend have highlighted anomalous gold and copper values with an associated manganese oxide overprint. This area will be one of the highest priority targets within this Project.
Godolphin plans to conduct field activities such as; mapping, rock chip sampling and soil sampling in areas where access has already been granted. The highest priority will be to conduct further soil auger around the Big Ben area, following up previous anomalous auger and rock chip results. Activities in other areas will be dependent upon gaining land access.
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