Projects Overview
Mungana Project: Dingo Peak Prospect
The Dingo Peak prospect is situated within the Company’s Mungana tenements in the Chillagoe region of North Queensland and lies 30 km to the east of the Company’s Anastasia prospect and 35 km south of the Red Dome copper gold mine. Dingo Peak is positioned along a North-South trending splay of the highly
mineralized Palmerville Fault, and lies in the southern part of a 2 km long by 1 km wide geochemical and
geophysical anomalous zone. The main target is a large copper-gold porphyry system with elevated gold and copper in soil values over an area of 1,200 m X 1,000 m surrounding the intrusive core.
Initial diamond drilling of two diamond drill holes for 266 meters were completed over the two main targets at the
Dingo Peak porphyry in the south and Quartz Needle to the north. The best intersection from DHDD05 at
the Dingo Peak porphyry prospect returned: 39 m @ 0.42% Cu and 0.8 g/t Au including 23 m @
0.55% Cu, 1.25 g/t Au and 4.6 g/t Ag and 7 m @ 2.87 g/t Au, 5.2 g/t Ag and 0.65% Cu.
A recent IP geophysical and magnetics survey over the Dingo Peak prospect has defined a 2km long alteration zone associated with a strongly mineralized porphyry system that has only been marginally tested by previous successful QML drilling
Geochemical surveys over the exposed southern part of the new zone show a classic porphyry style pattern of distal Pb-Zn anomalies surrounding proximal Cu-Au anomalism.
