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 50,000 ounces per annum.
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.
As at 31 May 2018, Pantoro has total resources of approximately 1.5 million tonnes at 8.3 g/t Au for approximately 400,000 ounces of gold.
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 15 kilometres of the Nicolsons Shear Zone to the north of ground held by Pantoro and approximately 15 kilometres to the south.
This ground is yet to be drill tested.
Anglo Australian also holds some 30 kilometres of strike along the Nicolsons East Shear Zone, approximately 8 kilometres to the east of and sub-parallel to the Nicolsons Shear Zone.
This zone hosts a number of highly attractive targets including the undrilled Nicolsons East Prospect which outcrops over approximately a two kilometres length and where gold mineralised rock chip samples assays up to 15.7 g/t Au have previously been recorded – see below.
The Nicolsons East Prospect is yet to be drill tested.