Rast North EL6879 – Emu Tank EL7320 – Kellys Tank EL7323 Introduction The Gilgunnia Range JV tenements are located approximately 495 km northwest of the Sydney CBD, between the town of Nymagee and the locality of Gilgunnia in the Upper Western region of New South Wales.
Geology and Mineralisation The margins of the Mount Hope Trough, the Rast Trough, the informally named Wagga Tank-Nymagee Structure and the associated Gilgunnia–Hathaway Zone (Figure 2 [Geoscience Australia (GA) 1: 1 000 000 scale geology dataset]) are considered to be prospective for both magnetic (i.e. Peak, CSA, Elura) and non-magnetic (i.e. Hera) Cobar-style deposits that may have developed in favourable structural-stratigraphic settings. Under an agreement dated 11 November 2009, MMG Australia Ltd may earn 80% interest in the tenement package by spending $1,500,000 on exploration by 12 November 2014. Thereafter MMG has an option to earn 90% by a further $4,500,000 of expenditure. The joint venture includes Exploration Licences 6879 ‘Rast North’, 7320 ‘Emu Tank’ and 7323 ‘Kelly’s Tank’. Work undertaken by MMG on the Gilgunnia Range JV tenements included reconnaissance mapping at Iris Vale prospect, detailed ground magnetics (Digger and Olympic remnant magnetic lows (‘Rast North’) an airborne electromagnetic (VTEM) survey, reconnaissance induced polarisation surveys of the Digger and Olympic prospects (also on ‘Rast North’), examination of historical airborne magnetic data for inversion modelling (‘Kelly’s Tank’) and a rock chip sampling programme at Digger South. A follow-up induced polarisation survey is planned at Digger and an airborne HeliTEM® survey of the Gilgunnia Range JV tenements is being designed for Q3-2012.
Updated September 2012 |
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