Australia
Exploration at Ravenswood has continued to focus on developing new drill targets using detailed aeromagnetic data, outcrop mapping and the extensive surface geochemical database combined with the Ravenswood and Mt Wright multi-element geochemical “footprint” information gathered in recent years. Near mine prospects are also being re-evaluated with the aim of identifying near surface economic mineralisation truckable to the Ravenswood treatment plant.
Ravenswood Near Mine
Seven reverse circulation holes were drilled at the Airstrip prospect (Figure 7), 2km east of the Sarsfield pit, with the aim of testing the anomalous soil samples and previous Mount Isa Mines drill intercepts. Significant results including 6m @ 2.1g/t Au, 2m @ 5.8g/t Au and 3m @ 5.0g/t Au were received from quartz-sulphide veining within chlorite-sericite-silica altered tonalite. Potential remains down dip and along strike to the east.
Mapping and a detailed review of all previous drilling at the Felix-Politician prospect (2km south-east of the Nolans Pit) and at Elphinstone Creek (1km west of Buck Reef West) is currently underway. Both prospects have the potential to provide additional feed to the nearby Ravenswood mill.
Ravenswood Regional
Over two thousand four hundred soil samples and three hundred rock chip samples were collected across the Ravenswood tenements during the year. Notable gold and base metal results were received from the Mt Douglas volcanagenic massive sulphide (VMS) style target in the Fanning River North area and from the porphyry Cu-Au style Eneby prospect 11km southwest of Mingela. Mapping at the Mt Chev prospect (Figure 7), 14km north of Sarsfield, has outlined a zone of strongly sericite altered hydrothermal breccia of similar size and style to the outcrop breccia at Mt Wright. Multi-element analysis of soil and rock chip samples has confirmed the Mt Chev prospect contains a similar geochemical signature to that of the upper portions of Mt Wright. Geophysical surveys are planned for all three areas prior to drill testing.
The Welcome Breccia Joint Venture with Denjim Pty Ltd was signed late in the year. Targets within the joint venture tenure include high grade gold mineralisation beneath the Christian Kruck open pit and a Mt Wright style breccia target beneath the Welcome Breccia pit. Deep diamond drilling beneath the Welcome Breccia pit will be conducted early in 2010 (Figure 8).
Two Exploration Permit applications were recently submitted over prospective areas across intrusive complexes to the immediate west and to the southeast of Ravenswood.
