Lake Labyrinth Shear Zone Gold Project

Lake Labyrinth Shear Zone

The Lake Labyrinth Shear Zone Project (LLSZ) hosts several highly prospective targets including:

  • Minos
  • North Hicks
  • Ariadne
  • Partridge

The LLSZ Project contains several fully permitted, drill ready drill targets positioned along a 30km strike, which have been prioritised for follow-up drilling.

At the Minos Prospect, mineralisation has been recorded over wide intervals on a 400m strike length from 12m depth, with significant historical drill intersections at Minos including:

  • 25m @ 2.3 g/t Au (incl. 10m@ 4.6 g/t)
  • 23m @ 2.0 g/t Au (incl. 8m @ 4.5 g/t)
  • 9m @ 4.2 g/t Au (incl. 5m @ 7.3 g/t)
  • 130m @ 2.3 g/t (incl. 1m @ 65.9 g/t)*

(*vertical hold drilled down dip)

LLSZ Geological Summary

The gold mineralisation intersected in drilling to date within the LLSZ is concentrated within an intense alteration system (primarily sericite, chlorite, pyrite) of up to 100 metres wide. The LLSZ is interpreted from magnetic imagery to extend for approximately 60 kilometres along strike, of which approximately half is within the Company’s ground holding. The majority of the LLSZ is under a thin (2-20m) veneer of transported cover rendering conventional surface geochemical exploration largely ineffective over the majority of the shear zone.

The Minos, Ariadne and North Hicks prospects are all in areas of outcrop or shallow cover and their discovery resulted from the follow-up of anomalous gold from surface sampling or from sporadic historic shallow drilling. Little or no effective exploration has been completed over the vast majority of the LLSZ under the thin cover.

This highlights the potential for further discoveries of gold deposits at shallow depths below surface to be made along the LLSZ within the Company’s ground holding.

The Minos and Ariadne prospects have only been partially drill-tested and remain open along strike and at depth, and are a priority for further drilling by the Company. The prospects are proximal to the historic Lake Labyrinth gold workings and lie within the LLSZ.