“This HOA gives Golden Deeps access to extensions of mineralised volcanics and intrusives within the Rockley-Gulgong Volcanic Belt. This belt is highly prospective for major porphyry/volcanic hosted copper gold discoveries and is a similar setting to major deposits such as the world-class Cadia-Ridgeway mine.
“The Acros and Crown tenements also include extensions to the Hill End gold corridor which has produced over two million ounces of gold.
“We now look forward to immediately advancing geophysical programs to define drilling targets south and northwest of the Company’s Havilah Project, where drilling is currently testing copper-gold targets which continue under cover into the Acros and Crown ground.”
About the Acros and Crown Tenements
Acros holds three exploration licences (EL9114, EL9069 and EL9118) and Crown one exploration licence (EL9060) near Mudgee in the Eastern Lachlan Fold Belt region of NSW (see Figure 1 for locations). Details of the tenements are shown in Table 1 below:
Table 1: Acros and Crown Tenements expenditure and commitments:
The Acros and Crown tenements are located close to the eastern margin of the Lachlan Fold Belt and straddle the boundary between the Siluro-Devonian Hill End Trough – which contains the Hill End gold field (2Moz produced), and the Rockley-Gulgong Volcanic Belt which is highly prospective for porphyry related copper-gold deposits (see Figure 1).
In the eastern tenements (EL9114, EL9069 and EL9060), the Company is targeting porphyry/volcanic hosted copper-gold mineralisation in a belt of Ordovician age (Sofala) volcanic rocks in the Rockley Gulgong Volcanic Belt. This belt is part of the Macquarie Arc in the Lachlan Fold Belt – a major geological province known for world-class copper-gold deposits such as Cadia-Ridgeway2 and North Parkes4 (see Figure 3, below). These major deposits are hosted by Ordovician volcanic rocks and associated with “porphyry” intrusives and sit within parallel volcanic belts to the west of the Rockley-Gulgong Belt.
Leave a Reply