Mount Venn Gold
The Mt Venn Project tenements are located 125km northeast of Laverton in the Goldfields Region of Western Australia (Figure 1). The tenements are the subject of a Binding Heads of Agreement to acquire the Mt Venn Gold Project from Cazaly Resources Ltd (ASX:CAZ) (“CAZ”).
The project area lies within the Mount Venn-Dorothy Hills greenstone belt which is the most easterly major NW/SE striking greenstone belt of the Yilgarn Craton. Together these greenstone belts account for 30% of the world’s gold reserves, most of Australia’s nickel production, plus other base metal and rare earth deposits.
Figure 1 – Mount Venn gold project location
Figure 2 shows the distribution of the major greenstone belts and their associated gold reserves. The most productive of these to date is the Kalgoorlie-Norseman belt at approximately 120 million ounces of gold.
Historically little attention was given to gold exploration at Mount Venn due to its remoteness, sparse outcrop and lack of nearby infrastructure. Limited mining of high-grade quartz veins (up to 201 g/t Au) was reported in the early 1920s and spasmodic base metal exploration has occurred over the last 50 years.
More recently Gold Road’s discovery of Gruyere in September 2009 has demonstrated that this greenstone belt has similar potential to the other major greenstone belts in the Yilgarn Craton. As of 13 February 2019, the Gold Road reserves in the Mount Venn – Dorothy Hills greenstone belt were 97.2 million tonnes at 1.25 g/t Au for 3.92 million ounces of gold (ASX.GOR Announcement 13 February 2019) representing a 5% increase on previous year due to an aggressive exploration program.
The Mt Venn project tenements cover approximately 50 Kms of a NNW trending greenstone succession consisting of intrusive and extrusive ultramafics, mafic and felsic rocks, together with pyroclastics and metasediments (Figure 3).
Figure 2 – Major Yilgarn Craton greenstone belts and Au reserves
The Jutson Lineament extends through the entire strike length of the project, with subsidiary splay shears trending through the felsic rocks to the south. Several north-south faults and shears, as well as east-west trending quartz filled fractures, post-date the more regional structures, and appear to be associated with known mineralisation.
There are numerous surficial prospects that have been identified by previous prospectors as indicated in Figure 3. Rock chip samples from Chapman’s Reward, Lang’s Find, Jutson Rocks and Mount Cumming returned gold assays up to 201g/t, 208g/t, 20.5g/t and 8.4g/t respectively.
During 1996-1997 Elmina NL conducted regional soil sampling programs which revealed wide spread gold anomalism in all rock types. The best and most continuous gold in soil anomalies were found in areas where outcrop occurs or where the calcrete horizon breaks the surface.
Figure 3 – Mount Venn geology and known mineralised zones
Figure 4 shows a gridded image of the gold in soil assays from the Elmina geochemical sampling programs. This image reveals four anomalous clusters, located at Lang Find, south-west of Mount Cumming, west of Rutter’s Soak and east of Mount Scott
Yamarna West Cazaly Resources Ltd acquired the Mt Venn Project during 2016. Cazaly’s maiden drilling program included RAB drilling over the Three Bears prospect which successfully defined major gold mineralisation associated with a large shear structure close to the contact between felsic volcanics and an ultramafic unit. Results from three lines of aircore drilling at Three Bears included 4m @ 2.14 g/t Au and 4m @ 0.18 g/t Follow up RC results included 15m @ 0.40g/t Au from 120m (MVRC016), 44m @ 0.21g/t Au from 76m (MVRC019) and 20m @ 0.28g/t Au from 90m (MVRC024).
Figure 4 – Gridded image of gold in soil assays
The drill section of these results is shown in Figure 5.
The widespread gold in soil anomalies throughout the project area remain untested.
Figure 5 – Drill section showing Gold Mineralisation at Three Bears Prospect