CIRCLE VALLEY

Western Australia

Bedrock gold occurrences in the Albany Fraser Mobile Belt

Project Highlights

  • Two bedrock gold occurrences within otherwise unexplored terrain at Circle Valley is an excellent indicator of potential broader gold mineralisation
  • Previous exploration along the western edge of the Albany Fraser Mobile Belt has resulted in the discovery of the 7.1Moz Tropicana gold mine
  • The potential prize with this type of target could be a new gold ‘camp’

Exploration Potential

Latitude’s Circle Valley Gold Project is located 85km south of Norseman (Figure 1) in Western Australia. Circle Valley covers a soil-covered section of the southwestern Albany-Fraser Mobile Belt where limited past reconnaissance-style aircore (AC) drilling had located primary gold mineralisation in two separate locations: Anomaly A and Fenceline. Despite the positive indications, no systematic gold exploration has been undertaken to date. Multiple kilometres of unexplored magnetic features extend from each of these prospects (Figure 2). Latitude considers that two bedrock gold occurrences in otherwise unexplored terrain is an excellent indicator and suggests broader gold exploration potential. The potential prize in this type of target could be a new gold ‘camp’. Gold exploration along the western edge of the Albany Fraser Mobile Belt has met with considerable success as highlighted by the discovery and development of the 7.1Moz Tropicana gold mine (AngloGold Ashanti and IGO Limited Joint Venture).

Geological Summary

Geological reconnaissance in the Anomaly A area located several local ‘windows’ of exposed felsic and mafic gneissic rocks through the transported cover profile, demonstrating that parts of this prospect are only shallowly-covered and potentially suitable for wider auger geochemical sampling. Significantly these ‘windows’ lie up to 1km along strike from previous drilling (Figure 3) and show evidence of fold deformation, quartz veining and alteration (see photos below), that is consistent with observed silicification and sulphides noted within anomalous drill intervals at this prospect. Historical drilling at Anomaly A comprised a 100m x 100m pattern of shallow AC holes over a local auger anomaly (Figure 3). Despite the wide drill pattern, the aircore holes encountered multiple composite intersections of greater than 0.10g/t Au over some 600m strike. The bedrock anomaly remains open-ended (Figure 3).

 

Previous Exploration Summary

Past drilling1 at Fenceline comprises two lines of aircore holes on a 400m x 100m pattern located some strong early-stage drill results to 10m @ 0.73gt Au (including 4m @ 1.08g/t Au) bedrock geology (as logged in historical holes) comprises mafic and felsic gneissic rocks, which is consistent with a well-developed east-west magnetic trend running through this area. This trend is otherwise untested for more than 5km each direction. The compilation and data review exercise has demonstrated that only limited drilling has been carried out to date, and due to widespread transported cover, the project remains at a very early stage of exploration. The presence of gold anomalism and alteration in two widely spaced first-stage drilling grids to be of significant interest and supports the overall prospectivity of the Project. The Project offers potential for infill Aircore or RC drilling to upgrade results in the immediate area of observed gold mineralisation, and/or discover additional gold mineralisation in structural & magnetic targets along-strike. Multiple kilometres of unexplored magnetic features extend from each occurrence, and in the remaining project area.

Figure 3: Aerial photograph showing location of recent reconnaissance mapping, Fenceline and Anomaly A gold prospects and all previous gold drilling. Note 1km grid.

Figure 1: Location Circle Valley Project

Figure 2: Regional aeromagnetic image showing all previous gold drilling and gold results at the key Fenceline and Anomaly A target prospects. Note strike-extensive magnetic and structural corridors remain unexplored.

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CIRCLE VALLEY

Bedrock gold occurrences

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