New Drill Targets Identified at Mineral Hill
Released
Released
Announcement PDF
ASX/Media Announcement
18 July 2023
New Drill Targets Identified at Mineral Hill
IP Geophysics Survey identifies at least 15 new walk-up drill targets
•
A total of 15 new and exciting targets have been identified within and near the Mineral Hill
Mining Lease (ML) package.
•
The interpretation and 3D modelling of the 28km Induced Polarisation (IP) geophysical
program southeast of the Mineral Hill Mine has been completed.
•
Mineralisation at Mineral Hill is directly associated with areas of high chargeability and
changes in gravity response.
•
Kingston is focused on adding to the mineral inventory for the Mineral Hill processing plant
and extending the LOM.
•
Seven holes for 1083 metres of the 10-hole program have been completed, with assay results
pending.
Kingston Resources Limited (ASX: KSN) (Kingston or the Company) is pleased to report that an updated
Induced Polarisation (IP) and gravity geophysics interpretation has revealed new and highly prospective
targets to the south of the Mineral Hill Mine. In February 2023, the company conducted 28-line kilometres of
IP geophysics over this area, which identified new high-priority exploration targets.
Figure 1: Recently generated geophysical targets in the vicinity of the mining licences.
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202/201 Miller Street,
North Sydney, NSW 2060
+61 2 8021 7492
info@kingstonresources.com.au
www.kingstonresources.com.au
@KSNResources
The new IP program expands coverage to the south-eastern edge of EL1999 and enhances the evidence
already provided by gravity geophysics in this region. By utilising modern techniques and new exploration
models, we have demonstrated that Mineral Hill is highly prospective both locally and regionally.
Kingston’s exploration work has found that mineralisation at Mineral Hill is directly associated with coincident
IP chargeability highs and changes in gravity anomalism, specifically from high to low gravity. This association
provides a valuable exploration tool to refine target generation and maximise the success rate of exploration
drilling.
Kingston Resources Chief Geologist, Stuart Hayward, said:
“We are excited about the current exploration program we have in place for Mineral Hill, which has the
potential to lead to new discoveries. Our recent IP analysis has shown that there are areas within the mining
and exploration leases that share a geophysical signature with existing deposits, including a correlation
between gravity and IP. With these findings we are confident in our ability to derive new insights and deliver
high quality results in the future.
Kingston remains dedicated to pushing the boundaries of exploration and harnessing the full potential of our
exploration assets at Mineral Hill. We look forward to completing thisdrill testing phase as we continue to
unlock the value within our extensive mineral resources, while continuing to create sustainable long-term
value for our shareholders.”
Background
Gold and base metals (Cu-Pb-Zn) deposits in the Cobar basin are characterised by strong structural and
lithological controls, as well as by high sulphide content, making target generation using multiple geophysical
datasets a key foundation for exploration throughout the region.
The Mineral Hill ML’s and EL1999 have excellent coverage of aerial magnetics and radiometrics, gravity, and
multiple IP datasets (Figure 1). The broader regional EL8334 also has comprehensive aerial magnetics and
regional-scale gravity data, along with two heli-geo TEM survey grids previously completed in 2010.
Consolidation of the historical data in late 2022 confirmed the mineralised structures at Mineral Hill can be
identified using multiple geophysical datasets. IP is a standout geophysical technique at Mineral Hill and
within the Cobar Basin more generally. Almost all the mineralised zones at Mineral Hill display strong IP
chargeability responses. Figure 2 shows the recent and historical IP survey areas.
Figure 2: Overview of historical and recent IP geophysical surveys.
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2
With the assistance of external consultants, Kingston undertook a review of historical geophysics datasets
over Mineral Hill’s mining and exploration leases. The company identified 32 traverse lines of IP collected by
Cyprus between 1969-1970, which were never processed or used for target generation. As the IP data was
acquired well before commencement of modern mining practices at Mineral Hill, the potential of interference
from newer infrastructure was limited.
The 2023 IP data south of Mineral Hill mine has been added to a new 3D IP model that now includes all
historical datasets and is, therefore, at a significantly higher resolution and broader coverage than previous
IP models. The geophysical fingerprint of the existing Mineral Hill deposits has been confirmed with this
analysis and this highlights the outstanding potential for new discoveries and extensions in the near-mine
environment.
Figure 3 shows the 15 near-mine targets that have been identified by consolidation work with exploration
planning well advanced to test the targets. These reflect along strike or down-dip/plunge extensions, as well
as potential offsets and replications of known mineralisation.
Figure 3: Recently generated geophysical targets in the vicinity of the Mining Licences including 2023 IP targets to
the south.
Mineralisation is spatially associated with zones of strong IP chargeability, variable intensity IP resistivity, and
gravity gradients. The geometry of these features can be complex, reflecting the structural complexity
inherent in the Mineral Hill system. Other targets are interpreted to occur along a linear gravity margin
extending to the south.
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3
IP chargeability depth slices from the historical and new dataset show a series of short and long-range linear
anomalies that are parallel to the predominant structural trends mapped in open pit and underground
workings. Shallow anomalies are spatially associated with known mineralisation while the same anomalies
appear to change in orientation to the west, potentially reflecting dipping and plunging mineralisation.
An ongoing review of geophysical data over EL1999 and adjacent EL8334 is currently underway. Extending
these known relationships into the broader region is revealing some promising areas of interest.
Near term work program
Kingston’s geology team has designed diamond and reverse circulation resource development drilling
programs at Pearse North, SOZ, and reconnaissance testing of geophysical targets. These are shown in
Figure 4 and listed in Table 1. A combination drill rig has been mobilised to drill test these targets with
diamond and reverse circulation (RC) drilling. Seven holes for 1083 metres have been completed from a 10hole program within the Mining Lease area with results pending.
Historical data compilation and review will continue to assess the targets for programs of work in FY24 and
beyond.
Figure 4: Location of proposed exploration holes within the Mining Lease.
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4
Kingston is focused on adding to the mineral inventory for the Mineral Hill processing plant and extending the
LOM. Organic resource growth within the approved tenements close to the processing plant is one of the key
strategies to achieve this. Applying new interpretation techniques over new and historical data over Mineral
Hill is demonstrating the high prospectivity of the mining and exploration tenements.
Table 1: Drilled and planned exploration holes at Mineral Hill (datum: MGA94_55).
BHID
KSNRC021
KSNRC022
KSNRC023
KSNRC024
KSNRC025
KSNRC026
KSNRC027
PRC23_0030
PRC23_0032
PRC23_0033
PRC23_0034
Hole
Type
RC
RC
RC
RC
RC
RC
RC
RC
RC
RC
RC
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Hole
Purpose
Resource
Definition
Resource
Definition
Exploration
Exploration
Exploration
Exploration
Exploration
Exploration
Exploration
Exploration
Exploration
Status
Depth
mEast
mNorth
mAHD
Dip
Drilled
210
498590
6395930
317
-65
Azimuth
MGA
65.3
Drilled
210
498575
6395890
317
-60
70.3
Drilled
Drilled
Drilled
Drilled
Planned
Planned
Planned
Planned
Planned
192
156
204
111
215
215
215
215
215
498195
498170
498080
497830
498608
498600
498645
498680
498540
6395590
6395510
6395760
6395774
6396379
6396655
6396410
6396478
6396574
311
314
313
316
314
305
307
312
314
-60
-60
-60
-60
-60
-60
-60
-60
-60
40
40
10
40
70
70
70
70
70
5
ABOUT KINGSTON RESOURCES
Kingston Resources is currently producing gold from its Mineral Hill gold and copper mine in NSW and is
developing the 3.8Moz Misima Gold Project in PNG. The Company’s objective is to establish itself as a midtier gold and base metals company with multiple producing assets.
Misima Gold Project, PNG (100%)
•
•
•
•
•
DFS Validation: potential for a robust, scalable, and low-cost open pit
operation.
Production Potential: Anticipated gold production of ~2.4Moz over a
20-Year Mine Life (Avg. 128kozpa).
Strong Financial Viability: Pre-Tax Net Present Value (NPV) of A$956
Million (based on a US$1,800/oz Gold Price).
Gold Price Upside: Highly leveraged to the upside of the gold price,
amplifying potential returns.
Current Focus: Prioritising ESIA reports, strategic funding &
development strategies.
Mineral Hill Mine, NSW (100%)
•
•
•
•
•
Mine plan out to the end of 2027: Open pit and underground mining.
Significant upside: Current life of mine only utilises 22% of the current
8.9Mt of Mineral Resources.
Infrastructure excellence: Extensive existing infrastructure with all
permits and approvals in place.
Exploration potential: Exceptional upside within current Mining Leases
(ML) and Exploration Licenses (EL).
Current Focus: Maximising returns from Tailings Project gold
production, proactive exploration drilling, and underground re-entry.
Mineral Hill is a gold and copper mine located in the Cobar Basin of NSW. In June 2023, the company
updated its life of mine plan, including both open pit and underground mining until 2027. The processing plant
currently operates a CIL, and work is underway to recommission the existing crushing, grinding and flotation
circuits for copper, lead and zinc concentrate production. In addition to current production, the company is
focused on meeting near mine production targets located on the existing MLs. The aim is to extend the mine’s
life through organic growth and consider regional deposits that could be processed at Mineral Hill’s
processing plant.
Misima hosts a JORC Resource of 3.8Moz Au and an Ore Reserve of 1.73Moz. Placer Pacific operated
Misima as a profitable open pit mine between 1989 and 2001, producing over 3.7Moz before it was closed
when the gold price was below US$300/oz. The Misima Project also offers great potential for additional
resource growth through exploration success targeting extensions and additions to the current Resource
base.
For further information regarding the Misima Mineral Resource and Ore Reserve estimate, see ASX
announcements on 24 November 2020 and 15 September 2021 and 6 June 2022. Further information is
included within the original announcements.
The Mineral Hill Mineral Resource estimate outlined below was released in ASX announcements on 18
November 2021 (TSF), 15 March 2023 (Pearse South and Pearse North), 24 November 2022 (Southern Ore
Zone), 21 March 2023 (Jack’s Hut) and 13 September 2011(Parkers Hill by KBL). The Ore Reserve estimate
outlined below was released in ASX announcements on 18 November 2021 (TSF), 15 March 2023 (Pearse
South and Pearse North). Further information is included within the original announcements.
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6
This release has been authorised by the Kingston Resources Limited Board. For all enquiries, please contact Managing Director,
Andrew Corbett, on +61 2 8021 7492.
MINERAL RESOURCES AND ORE RESERVES
Misima JORC 2012 Mineral Resource & Ore Reserve summary table
Resource Category
Cut-off (g/t Au)
Tonnes (Mt)
Gold Grade (g/t Au)
Silver Grade (g/t Ag)
Au (Moz)
Ag (Moz)
Indicated
0.3
97.7
0.79
4.3
2.5
13.4
Inferred
0.3
71.3
0.59
3.8
1.4
8.7
Total
0.3
169
0.71
4.1
3.8
22.1
Reserve
Cut-off (g/t Au)
Tonnes (Mt)
Gold Grade (g/t Au)
Silver Grade (g/t Ag)
Au (Moz)
Ag (Moz)
Probable
0.3
75.6
0.79
4.2
1.73
4.1
Mineral Hill JORC 2012 & JORC 2004 Mineral Resource & Ore Reserve summary table
Resource
Category
Measured
Tonnes
(kt)
228
Gold
Grade
(g/t)
2.11
Silver
Grade
(g/t)
11
Cu %
1.3%
Pb %
0.5%
Zn %
0.3%
Au (koz)
15
Ag (koz)
80
Cu (kt)
3
Pb (kt)
1.2
Zn (kt)
0.7
Indicated
5,582
1.06
28
1.2%
1.7%
1.1%
191
4,244
47
70
42
Inferred
3,091
1.17
23
0.7%
1.4%
1.2%
116
2,242
22
42
38
Total
8,901
1.13
26
1.0%
1.6%
1.1%
323
6,566
72
113
81
Reserve
Category
Proved
Tonnes
(kt)
-
Gold
Grade
(g/t)
0.00
Silver
Grade
(g/t)
0
Cu %
Pb %
Zn %
Au (koz)
-
Ag (koz)
0
Cu (kt)
Pb (kt)
Zn (kt)
Probable
1,431
1.55
57
71
470
Total
1,431
1.55
57
71
470
Competent Persons Statement and Disclaimer
The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr.
Stuart Hayward BAppSc (Geology) MAIG, a Competent Person who is a member of the Australian Institute of Geoscientists. Mr.
Hayward is an employee of the Company. Mr. Hayward has sufficient experience that is relevant to the style of mineralisation and
type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012
Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Hayward confirms
that the information in the market announcement provided is an accurate representation of the available data and studies for the
material mining project and consents to the inclusion in this report of the matters based upon the information in the form and context
in which it appears.
The Competent Person signing off on the overall Misima Ore Reserves Estimate is Mr John Wyche BE (Min Hon), of Australian Mine
Design and Development Pty Ltd, who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has sufficient
relevant experience in operations and consulting for open pit metalliferous mines. Mr Wyche consents to the inclusion in this report
of the information pertaining to the Misima Ore Reserve in the form and context in which it appears.
The Competent Person signing off on the overall Pearse Opencut Ore Reserves Estimate is Mr John Wyche BE (Min Hon), of
Australian Mine Design and Development Pty Ltd, who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has
sufficient relevant experience in operations and consulting for open pit metalliferous mines. Mr Wyche consents to the inclusion in
this report of the information pertaining to the Pearse Opencut Ore Reserve in the form and context in which it appears.
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7
JORC CODE 2012 EDITION, TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria
JORC Code explanation
Sampling techniques
Drilling techniques
Drill sample recovery
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• Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc).
These examples should not be taken as limiting the
broad meaning of sampling.
• Include reference to measures taken to ensure
sample representivity and the appropriate calibration
of any measurement tools or systems used.
• Aspects of the determination of mineralisation that
are Material to the Public Report.
• In cases where ‘industry standard’ work has been
done this would be relatively simple (eg ‘reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay’). In other cases more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of
detailed information.
• Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc)
and details (eg core diameter, triple or standard tube,
depth of diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by what
method, etc).
• Method of recording and assessing core and chip
sample recoveries and results assessed.
• Measures taken to maximise sample recovery and
ensure representative nature of the samples.
• Whether a relationship exists between sample
Commentary
Reverse Circulation Drilling Sample Collection
• Samples were collected directly from an RC drill rig using a cone splitter and a
1m downhole interval. A 1/8 split of each interval was collected in a
prenumbered calico bag. The remaining sample was collected in a green plastic
bag and placed on the ground in numeric downhole sequence for geological
logging.
• Cone splitter setup was verified at each hole to be vertical and clean. The RC
sample circuit is blown clean at each metre during drilling.
• Samples in calico bags were collected and dispatched to SGS laboratory where
they are received and registered with a sample receipt document provided as a
record of the chain of custody process.
• No analytical results are being presented in this release.
• Reverse circulation drilling has commenced at Mineral Hill testing a range of
potential ore body extensions at Eastern Ore Zone and exploration targets.
• 7 drill holes are complete for 1083 metres, with all drill holes being reverse
circulation.
• Reverse Circulation Drilling
• RC samples are recovered at 1 metre downhole interval via a cyclone
attached to the side of the drill rig. Analytical samples are split from the
cyclone feed directly to a calico sample bag using a rotary cone splitter. The
remainder of the bulk is placed in a plastic bag and placed in an orderly
Criteria
JORC Code explanation
recovery and grade and whether sample bias may
have occurred due to preferential loss/gain of
fine/coarse material.
Commentary
•
•
•
•
•
Logging
Sub-sampling
techniques and
sample preparation
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• Whether core and chip samples have been
geologically and geotechnically logged to a level of
detail to support appropriate Mineral Resource
estimation, mining studies and metallurgical studies.
• Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography.
• The total length and percentage of the relevant
intersections logged.
• If core, whether cut or sawn and whether quarter, half
or all core taken.
• If non-core, whether riffled, tube sampled, rotary split,
etc and whether sampled wet or dry.
• For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
• Quality control procedures adopted for all subsampling stages to maximise representivity of
samples.
• Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain
size of the material being sampled.
manner to allow identification of intervals and potential resampling later.
Sample volume is maximised during drilling by ensuring the drill hole is only
advanced when the air/material flow is dry, and a slight pause at the end of
each meter to allow material to clear the anulus and inner tubes.
Sample quality was monitored by the onsite geologist and recovery noted.
Significant groundwater caused early termination of 2 drill holes
(KSNRC024, KSNRC026). Impact of water on sampling and subsequent
results has not been assessed as yet as not analytical data has been
received.
Sampling methodology for the duration of the program was consistent.
Overall high drill sample recoveries and consistent sample weights limit the
potential to introduce sample bias.
No assays are being reported to assess potential sample bias associated
with drill sample recovery.
• A qualified geologist logs all RC holes with lithology, alteration, and
mineralisation recorded based on visual assessment and estimation.
• Logging is principally qualitative in nature.
• 7 drill holes for 1083 metres of RC drilling have been logged and sampled.
• RC drill holes are sampled on 1 metre intervals.
• RC samples are collected directly from the rig cyclone that has a cone splitter
attached. An approx. 1-2kg sample is collected directly into a numbered calico
bag with a 1:20 field duplicate collected at the drill rig. No sub sampling was
done with RC samples.
• Routine QAQC was used in the sampling process. Blank material was
introduced at 1:20. Certified Reference Material was introduced at a ratio of 1:20
and in areas of identified mineralization.
• Samples from the field are dispatched to the sample preparation facility in
Orange where they are dried, crushed and pulverised with a 150g pulp
subsample collected for analysis.
• Sample representivity and quality is assessed using KSN QAQC protocols.
Criteria
JORC Code explanation
Commentary
Quality of assay data
and laboratory tests
• The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or total.
• For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
• Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy
(ie lack of bias) and precision have been established.
•
•
•
•
•
Verification of
sampling and
assaying
Location of data
points
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• The verification of significant intersections by either
independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry
procedures, data verification, data storage (physical
and electronic) protocols.
• Discuss any adjustment to assay data.
• Accuracy and quality of surveys used to locate drill
holes (collar and down-hole surveys), trenches, mine
workings and other locations used in Mineral
•
•
•
Geochemical analysis is carried out on all samples using a standardised
analytical suite and sample preparation protocol.
Gold analysis is determined by fire assay (FA) by using lead collection
technique with a 50g sample charge weight and AAS instrument finish. Gold by
Fire Assay (FA) is considered a “complete or total” method for total recovery of
gold in sample.
A multi (42) element suit was used for full geochemical coverage. This was a 4
Acid Digest with an ICP-OES finish. The 4 Acid digest is a total method.
Historically Aqua Regia has been used at Mineral Hill. Kingston has decided to
use the more robust 4 acid digest for its drilling programs. The sample 0.2g
(df=500) is digested with nitric, hydrochloric, hydrofluoric and perchloric acids to
effect as near to total solubility of the sample as possible. With most silicate
based material, solubility is to all intents and purposes complete, however,
elements such as Cr, Sn, W, Zr, and in some cases Ba, may prove difficult to
bring into solution. This digest is in general unsuited to dissolution of chromite,
titaniferous material, barite, cassiterite, and zircon. In sulphidic samples, some of
the sulphur may be lost (as H2S) or is partially converted to insoluble elemental
sulphur. Antimony can also partly be lost as volatiles under this digest. Some
minerals may dissolve, or partly dissolve and precipitate the element of interest.
Examples are silver, lead in the presence of sulphur/sulphate, barium in the
presence of sulphur/sulphate , Sn, Zr, Ta, Nb through hydrolysis.
KSN utilised QAQC in the form of standards, blanks and duplicates in the
diamond drilling program at Pearse North. If a 3SD exceedance of Au or Base
Metal (Ag, Cu, Pb, Zn) sample was detected, the laboratory was contacted to reassay the CRM and adjacent samples. There were no QAQC fails in the Pearse
North data set..
Internal laboratory QAQC is analysed and reviewed in addition to the Company
QAQC.
No significant intercepts are being reported in this release.
Primary data was collected into an excel logging template. The Senior Geologist
reviewed logged data that is transmitted to a specialist geological database
manager where data is stored and managed by a third-party provider in a
Datashed database.
No data adjustment is made.
• Images are drafted from detailed 3D data sets that were accurately located using
survey methods available at the time.
• A Differential GPS (DGPS) was used by the Senior Geologist to collect the collar
Criteria
JORC Code explanation
Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.
Commentary
•
•
Data spacing and
distribution
Orientation of data in
relation to geological
structure
Sample security
Audits or reviews
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• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient
to establish the degree of geological and grade
continuity appropriate for the Mineral Resource and
Ore Reserve estimation procedure(s) and
classifications applied.
• Whether sample compositing has been applied.
• Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the deposit
type.
• If the relationship between the drilling orientation and
the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material.
• The measures taken to ensure sample security.
• The results of any audits or reviews of sampling
techniques and data.
•
•
•
•
•
•
•
co-ordinate information. DGPS are robust survey collection tools that provide coordinates to the cm scale.
Data is presented in Geographic Datum Australia (GDA) released 1994- GDA94
Zone 55.
Kingston has a Digital Terrain Model (DTM) of the site constructed by a
registered Surveyor.
Final pickup of collar locations is carried out by the mine surveyor.
Figure 1 shows the spatial extent of the three historical IP surveys described in
this report.
The drill hole collar plan shows the surface location of the completed and
proposed RC drill holes.
Drill holes are reconnaissance in nature and are not a consistent spacing and
are designed for each specific target. Holes are designed to traverse
approximately normal to dominant mineralised trends interpreted for each target.
No sample compositing is done with all drill holes sampled at analysed at 1m
intervals downhole.
Drill holes are designed to traverse approximately normal to dominant
mineralised trends interpreted for each target.
No assessment of potential bias is possible at this juncture.
• RC residues are stored in the field while the individual samples are placed
directly into a plastic bin for submission to the laboratory. Samples are checked
into the bin, checked out at the laboratory receiving depot, and cross referenced
with sample submission documents.
• Samples are received and checked at the dispatch centre. Samples are then
sent by road freight to Orange where they are again received, checked and
verified, and a formal receipt of samples supplied by the laboratory.
• Samples are dried, crushed, and pulverised at the sample preparation laboratory
in Orange, where a pulp subsample is collected and transported to the
Townsville laboratory for analysis.
• Coarse residues are returned to site for long term storage. Assay pulps are
stored by SGS laboratory and returned to site for long term storage.
• No audits have been completed to date as the drilling is of a reconnaissance
nature.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section).
Criteria
JORC Code explanation
Mineral
tenement and
land tenure
status
Commentary
• Type, reference name/number, location and
ownership including agreements or material issues
with third parties such as joint ventures,
partnerships, overriding royalties, native title
interests, historical sites, wilderness or national
park and environmental settings.
• The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a licence to operate in the area.
Exploration
done by other
parties
• Acknowledgment and appraisal of exploration by
other parties.
Geology
• Deposit type, geological setting and style of
mineralisation.
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•
• As part of the recent transaction with Quintana, there exists a 2% Net Smelter
Return (NSR) royalty over future production at the Mineral Hill Mine.
• Exploration has been competed by previous tenement holders since the early 1970’s.
• IP Geophysical data sets used in this review were collected by Cyprus (1969-1970);
Getty (1983); Triako (1999)
Southern Ore Zone (SOZ)
The SOZ at Mineral Hill is an epithermal polymetallic (Cu-Au to Cu-Pb-Zn-Ag-Au) vein
and breccia system hosted by the Late Silurian to Early Devonian Mineral Hill Volcanics,
a pile of proximal rhyolitic volcaniclastic rocks with minor reworked volcaniclastic
sedimentary rocks. The mineralisation is structurally controlled and comprises lodes
centred on hydrothermal breccia zones within and adjacent to numerous faults,
surrounded by a halo of quartz-sulfide vein stockwork mineralisation. Mineralisation at A
Lode is mostly in the form of breccia, composed of volcanic wall rock and older quartzsulphide vein fragment
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