Project Overview
Mooletar
The Mooletar Project comprises an area of 75km2 covering folded Archaean greenstone belt and granitoids. Potential exists for structurally controlled gold deposits in both banded iron formation (BIF) analagous to the adjacent Hill 50 deposit type, or as mafic-hosted quartz veining.
The Mooletar Project, situated over the eastern portion of the Mount Magnet fold belt, represents an under-explored area of highly deformed Archaean greenstone belt, proximal to a major gold-production centre. Drilling by Oakover Gold Ltd (Oakover) in 2008 revealed the occurrence of a narrow high grade gold zone at 90g/t, and also significant widths of sulphide and magnetite alteration of BIF units, and associated porphyry dykes.
Further drilling is required to test the high grade gold intersection, and grass roots exploration of as yet untested extensions of the greenstone belt.
The Mooletar Project comprises 32 licences in total, predominantly as Prospecting Licences (PL’s) due to the proximity to intensive mining activity which restricts the pegging of Exploration Licences (EL’s).
Gimlet
The Gimlet Project lies 15km northwest of Kalgoorlie, in a prospective position which demonstrates structural, alteration and geological factors consistent with neighbouring gold deposits. The project’s proximity to the world class Kalgoorlie mining centre enhances the prospectivity. It is considered that, despite several drilling programs having delineated a substantial zone of gold mineralisation, the potential of the project has still not been adequately tested. The entire project area is covered by alluvium, sand dunes and salt lake deposits – there are no exposures of bedrock.
The project comprises granted exploration licence EL26/120. In the order of $2.5m has been spent in exploration on the project area.
701
The 701 Mile Project, covering 350km2 of Mesoproterozoic sediments and large mafic sills, is prospective for base metals, gold and manganese mineralisation. The Project lies approximately 80km southeast of Newman, within the northeastern portion of the Collier Basin (formerly termed Bangemall Basin) The project-scale aeromagnetic image shows a prominent northeasterly trending structural grain, with linear magnetic highs seemingly wrapping around mafic intrusions. The magnetic grain is interpreted to be a continuation of the Tangadee Lineament, which is a deep seated, long-lived structure which has controlled sedimentation during basin development.
An overview of the 701 Mile Project geology and data indicates that the project is prospective for: copper-nickel-platinum group element sulphide mineralisation associated with the basal sections of large mafic sills; structurally controlled polymetallic lodes and veins associated with faults and the margins of mafic intrusions (although these may be of limited size potential); and gold developed in basement Archaean greenstones (albeit at depths estimated to be below 400m) similar to Frankopan prospect.
Laconia has interests in the mineral rights, excluding iron ore and manganese. The project comprises two EL’s EL52/1531 and EL52/2232 and, four small PL’s.
Barramine
The Barramine Project comprises an area of 430km2 covering sequences of Archaean and overlying younger sediments, 250km east of Port Hedland in the East Pilbara of Western Australia. Recently completed sampling and field mapping have demonstrated the great potential for significant economic deposits of manganese. Economic grade manganese results have been obtained from sampling of chert breccias, identical geologically to those at Woodie Woodie Manganese Project, 80km to the southeast.
Additionally, the Barramine Project is along strike from, base metal occurrences (Barramine, Camel Hump, Ragged Hills and Braeside deposits), and the discovery of anomalous Cu-Zn in highly altered, pyritic acid volcanics by previous workers greatly enhances base metal prospectivity. Laconia has interests in the mineral rights excluding iron ore and manganese. The project comprises three EL’s, EL45/3312 EL45/3233 and EL45/3234