Skye Gold Project
High grade gold exploration in a proven South Australian gold province
- Excellent exploration address – multiple greenfield targets near several large-scale gold systems in a proven million-ounce gold terrain
- Located nearby to Marmota Limited’s (ASX: MEU) Aurora Tank ‘Goshawk Zone’ discovery and 119koz Golf Bore Mineral Resource which is within 2km of the project boundary
- Region known for plunge-continuous high-grade gold mineralisation such as that seen at nearby Challenger Gold Deposit (>1Moz past production)
Latitude sees a strong opportunity to build on the work of previous explorers within the Skye Gold project area, with an initial focus on geochemical drilling to continue to develop new and existing bedrock mineralisation. Importantly, large parts of the tenement, including areas with promising aeromagnetic features under paleochannel cover rocks can be considered completely unexplored (see Figure 3). The exploration prize in the Gawler Province terrain can be significant, with high-value, high-grade discoveries in the district having a reputation for excellent down-plunge continuity of mineralised shoots. For example, the high-grade M1 Lode at the Challenger Deposit has demonstrated remarkable ore continuity to more than 2.5 km down-plunge. Both primary host rock and the gold mineralisation at this deposit was reported to be competent and dry, providing excellent underground mining conditions.
Location and Nearology
The Skye Gold Project is located in the Gawler Craton, South Australia a proven million-ounce terrain some 700km northwest of Adelaide (Figure 1). The tenement area is adjacent to Marmota Limited’s (ASX: MEU) Aurora Tank Gold Project and reported significant high-grade gold intercepts at the Goshawk Zone (refer to recent ASX: MEU announcements).
The project lies only 50km from the Challenger Gold Mine (Figure 2) that has produced more than 1Moz of gold, including open pit mining before an underground production history to end 2016 of 4.38Mt @ 6.26g/t Au for 881,000oz.
The Skye Gold Project tenement area is characterised by widespread shallow transported cover with minimal exposed geology, with exploration in the district led by auger geochemical sampling and RAB or aircore geochemical drilling. Aeromagnetic imagery (Figure 3) suggests the tenure sits immediately along strike from the Golf Bore mineralised trend and has aeromagnetic anomalies consistent with metamorphosed banded iron formation that are similar to magnetic responses near the Goshawk Zone of the Aurora Tank Gold Project.
Previous Exploration Summary
Past exploration within the Skye Gold Project area has identified several areas of local bedrock mineralisation (Figure 3) each of which confirm that the tenement lies well within the regional mineralised corridor. Prospects identified to date within the Skye Gold Project area include:
|PROSPECT NAME||KEY DETAILS|
||24m @ 0.8 g/t gold from 40m including 6m @ 2.9g/t and 1m @ 8.3g/t 14m @ 0.4g/t gold from 68m to EOH. Bottom of hole assayed 0.5g/t|
|Birdie Prospect||8m @ 0.8g/t gold from 40m, incl 4m @ 1.5g/t 14m @ 0.4g/t gold from 38m, incl 2m @ 2.4g/t|
|Caddie & Club Prospects||Auger anomalism and shallow RAB follow-up drilling|
|Eagle & Albatross Prospects||Undrilled gold in calcrete anomalies 2-3km south of Goshawk Zone (ASX: MEU)|
Figure 1: Skye Gold Project Location Map
Figure 2: Skye Gold Project Regional TMI and Deposit Location Map
Figure 3: Skye Gold Project All Drill Collars and Gold Results on TMI Imagery
MURCHISON GOLD PROJECT
1.1Moz gold Mineral Resource in world
class gold field
Proven South Australian gold province
Bedrock gold occurrences