Koongie Park Gold
Anglo Australian Resources – 100% interest
Anglo Australian holds a portfolio of tenements prospective for gold approximately 20km to the south west of Halls Creek in the Eastern Kimberley region of Western Australia.
Various tenements held by Anglo Australian are adjacent to the Nicolsons Gold Project owned by the ASX-listed Pantoro Limited, which is currently producing gold at a rate in the order of 40,000 ounces per annum, though the company has plans to increase production to 80,000 ounces or more through further expansion.
Located as they are close to the Pantoro operation, Anglo Australian’s leases are strategically located.
Ore is currently sourced from the Nicolsons Mine, where a recent resource of 720,000 tonnes at 7.41 g/t containing 172,000 ounces of gold was reported.
The NNE-SSW trending Nicolsons Shear Zone on which the Nicolsons Mine is situated also hosts other gold deposits held by Pantoro including Rowdies, Wagtail North and Wagtail South.
The Nicolsons Gold Project illustrates that mineralization is structurally controlled within a 400 metre wide NNE trending strike-slip shear zone adjacent to the northwest margin of the Lodestone Monzogranite. Host rocks comprise folded and metamorphosed turbiditic greywackes, felsic vocaniclastics, mafic volcanic and laminated siltstone and mudstone of the Koongie Park Formation. Mineralisation is strongly associated with discontinuous quartz veining and iron-silica-potassium alteration.
Anglo Australian’s ground prospective for gold in the vicinity of the Nicolsons Gold Project is substantial.
The company’s ground position includes approximately 8km of the Nicolsons Shear Zone to the north of ground held by Pantoro, which is yet to be drill tested.
Anglo Australian has identified a parallel shear zone to the east of the Nicolsons Shear Zone, known as the Nicolsons East Shear Zone. Approximately 20km of Nicolsons East Shear Zone is within the company’s ground position.
From the Nicolsons East Prospect, which outcrops over 2km, rock chip results of up to 4.5 g/t Au on the main section, and up to 15.67 g/t Au to the south, have been recorded.
The Nicolsons East Prospect is yet to be drill tested.
For the latest information on the Koongie Park Gold Project, refer to the Investors page on this website.