Project Highlights:
- Intrusive hosted gold system / high sulphidation epithermal
- Top of deeper large gold porphyry system in rhyolite flow dome complex
- Two permits and two permit applications for approximately 300 sq km
- Volcanic silica breccia
- Located 5 Hrs drive from Cairns
Anastasia Prospect:
At Anastasia, a detailed diamond drilling program involving 23 drill holes ALD014-ALD036 totaling 5,596 meters was completed between January and April 2008 over the wet season.
This program evaluated the strike and depth extensions of the breccia and stockwork veined metasediments in this gold-polymetallic system. Detailed results of the first 18 holes were previously reported in April.
From March-June 2008, the Company completed the remaining scheduled five drill holes and final results have been received for all holes in this program. Collar details, locations and significant results for these holes are summarized in the July 15, 2008 press release.
The deposit is characterized by irregular, steeply dipping mineralized zones mainly within psammitic host horizons that are associated with silicification, quartz veining, brecciation and sericitic alteration. The mineralogy is indicative of a high-sulphidation hydrothermal system of mixed mesothermal to epithermal character, overprinted by later low-sulphidation porphyry-type veins of probable Permo-Carboniferous age.
Reedy Creek Prospect (Echo Resources)
The project consists of one exploration permit and two applications
covering a total area of 230 km2 of prospective ground with more than two dozen identified geological and geophysical targets.
The principal geological units are the Proterozoic McDevitt Metamorphics
and Fig Tree Hill Granite Complex, and the Carboniferous to Permian Scardons Volcanic Group and the Desert Creek Granite Complex. The area is considered prospective for intrusion-related gold-silver deposits.
In early 2008, the Company entered into an Option Agreement entitling the Company to earn up to an 80% interest in Echo Resources Limited Reedy Creek Project which surrounds the
Work includes GIS data compilation, geological reconnaissance and 1124 meters of core drilling in two prospects known as Sulphide Cap and Firegrass Creek. Results reported in July 15, 2008 press release
