Our Project

Project Highlights

The Koonenberry Gold Project is considered highly prospective for orogenic gold mineralisation. Considered an extension of the Stawell Zone in western Victoria, potential therefore exists to host multi million ounce gold deposits such as the +5Moz Stawell Gold Mine.

The existence of a substantial 200km2 alluvial gold nugget field coincident with the Project is considered the best form of evidence to host a significant gold deposit. In addition, the prospectivity of the Project is enhanced by the following:

 

  • Similar tectonic setting as part of the 500Ma Delamarian and 440Ma Benambran Orogenies.
  • Mafic basement rocks which are believed to be the source of the gold mineralisation.
  • The presence of the deep mantle-tapping Koonenberry Fault, that may have provided fluid pathways.
  • Numerous geochemical soil anomalies in association with splay faults off the Koonenberry Fault.
  • Deformed turbidite sequences that correspond to those trap sites extensively exploited for gold in Victoria.
  • Extensive mapped auriferous quartz vein systems.
  • Extensive placer and palaeoplacer deposits, currently being exploited by prospectors and fossickers and reportedly yielding significant quantities of gold.
  • Very low exploration maturity with limited testing of the mineralisation to date.

Location and Tenure

The Koonenberry Gold Project is located in north-western New South Wales, approximately 160km northeast of the major mining and cultural centre of Broken Hill and 40km west of the opal mining town of White Cliffs. Good access is available via main roads connecting Broken Hill, White Cliffs and Tibooburra.

The project covers an area of about 2,060 km2 comprising a total of 15 Exploration Licences all of which are in good standing. The licences are held beneficially by 100% owned subsidiary company Lasseter Gold Pty Ltd.

Geology and Mineralisation

The Koonenberry Belt is an orogenic belt with the potential to become a major new mineral province. The lithostratigraphy, the structural style, mineralisation timing and tectonic setting all point favourably to a comparison with the Western Victorian Goldfields and the likelihood of the Project area being a continuation of the Stawell Zone. The mineralisation styles range from lode style to alluvial and deep lead mines.

The Project area covers a series of Mid-Cambrian marine sediments of the Teltawongee and Ponto Groups, which were deposited in a volcanic arc environment prior to being deformed in the Late Cambrian Delamerian Orogeny. This orogeny is characterised by intense compressive deformation, resulting in tight to isoclinal upright folds and a vertical slaty cleavage.

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Belt scale greenfields discovery opportunity

Pipeline of Discovery Opportunities

Exploration to date has defined 20+ Targets including Exploration Targets, Anomalous Prospects, Drill Ready Prospects and Mineralised Prospects. A selection of these Prospects are described below.
MINERALISED PROSPECTS
Bellagio Gold Prospect – Significant widespread gold mineralisation in bedrock.
  • Outcropping quartz veins and abundant quartz scree (limited outcrop)
  • 39.4g/t, 22.5g/t and 11.25g/t Gold (demonstrates potential for high grade gold mineralisation)
  • Hosted by metamorphosed sediments (Siltstone, Mudstone and Sandstone)
  • Gold associated with milky white to smokey grey quartz veining
  • Deformed turbidite sequences that correspond to those trap sites extensively exploited for gold in Victoria.
  • Pathfinder support with Arsenic (As), Copper (Cu), Antimony (Sb)
  • NNE striking veins consistent with en echelon vein emplacement along WNW trending shear zone
  • In plan view, Air Core drilling has defined a broad 250m x 300m gold zone
  • In cross section, Air Core drilling has defined >1g/t over a +125m area
  • Significant intercepts (>1g/t Au) include:
    • 10m @ 1.61g/t Au from 18m, inc. 1m @ 4.47g/t Au from 24m (23BEAC002)
    • 8m @ 1.35g/t gold from 29m, inc. 1m @ 3.97g/t gold from 30m (23BEAC074)
Mineralisation remains open in all directions with follow up drilling planned.
DRILL READY PROSPECTS
Atlantis Copper-Gold Prospect – Extensive Copper-Gold, Never drilled.
  • Outcropping copper-gold mineralisation
  • Rock chip samples to 15.3% Cu, 0.84 g/t Au, 16,000ppm As, 0.34% Pb
  • Strongest, most coherent anomaly within the KNB Project Area
  • Gold in soil anomaly 6.5km x 900m (+5ppb, max 49.4ppb Au)
  • Adjacent to Koonenberry deep crustal/mantle-tapping fault
  • Wedged between two second order splay faults
  • Doubly-plunging antiform interpreted (mafic dome) similar to +5Moz Stawell Gold Mine
  • Three Electromagnetic (EM) conductive plates modelled down dip from copper-gold in outcrop
First ever drill program planned with all approvals in place
ANOMALOUS PROSPECTS
Four Queens Prospect – High grade gold target
  • Gold in soil anomaly 4.6km long and up to 750m wide (+5ppb, max 55.9 ppb Au)
  • Au +Sb-As ±Cu pathfinder element association
  • Historical Lag sample results of 13.95g/t Au and 665ppm As
  • Located along second order splay
  • Located on Sth margin of Nuntherungie half-graben (pull-apart basin setting)
Never been drill tested
Vegas Prospect – Shear zone hosted gold system
  • Gold in soil anomaly 2.0km long and up to 450m wide (+5ppb, max 20.1 ppb Au)
  • Au +Sb-As ±Cu-Mo pathfinder element association
  • Extensive quartz scree indicative of hydrothermal fluid flow
  • Located near Koonenberry fault + intersection of multiple splay faults
  • Multiple stacked reefs
Never been drill tested
EXPLORATION TARGETS
Bellagio Gold Corridor/Royal Oak Fault
  • Fertile structure +20km prospective strike
  • Deeply penetrating fault (2nd/3rd order fault splay/thrust)
  • Traceable in magnetic and seismic data
  • Largely unexplored with little/no systematic work
  • Regional soils (BLEG) highlight two coincident gold anomalies 8km along strike from Bellagio:
    • 11.8ppb Au (2.6km NW) and
    • 5.2ppb Au (5.8km SE)
Locate dilatant zones (jogs, releasing bends etc)
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The Project area covers a series of Mid-Cambrian marine sediments of the Teltawongee and Ponto Groups, which were deposited in a volcanic arc environment prior to being deformed in the Late Cambrian Delamerian Orogeny. This orogeny is characterised by intense compressive deformation, resulting in tight to isoclinal upright folds and a vertical slaty cleavage.

The Koonenberry Belt has been subject uplift, sedimentation and deformation throughout the Phanerozoic, including the Benambran Orogeny, which is considered to be the main phase of gold mineralisation. It is comparable with the Stawell Zone of the Victorian Goldfields. On the western side of the Koonenberry Project is the Koonenberry Fault, which is a long-lived deep crustal structure traceable in outcrop for over 225 km.

Gold occurs as structurally controlled as lode-style veins or as alluvial concentrations. Lode gold is often associated with laminated quartz veins and has also been documented in quartz vein stockworks. Gold is associated with pyrite and arsenopyrite, galena, chalcopyrite and sphalerite. Documented veins range in width from millimetre scale to several metres in width, with the strike of some individual veins exceeding several hundred metres. Historical production often documented head grades of sorted ore at two to three ounces of gold per tonne. Underground mining depth is undocumented but is not considered to have proceeded beyond 10 m in depth.

Gold was first discovered near Mount Poole in 1880 and alluvial mining and fossicking up to 1945 accounted for most of the >940 kg of gold reportedly produced1. Mining was hampered by lack of food and water, remoteness, and disease. Workings occur within the Project area at Williams Peak where miners tunnelled through soft weathered basement to exploit palaeoplacer mineralisation in the overlying pebble conglomerates of the Namur Formation. It is not known how much gold was recovered, nor how extensive is the network of shallow tunnels.

Recently, the whole Project area has been exploited by prospectors with metal detectors. Reports of significant gold being recovered in the Lasseters area are supported by the success of Koonenberry Gold in the same vicinity. The amount of gold removed is impossible to quantify and there has been almost no modern exploration for gold.

Reef mining has occurred in some areas, although not as extensively as with the palaeoplacers. Small workings are commonly encountered during mapping, but the main workings discovered to date occur at a prospect currently referred to as The Chimney, where a clean milky white quartz reef was exploited.

Copper, silver, and lead have also been mined in the region, between 1870 and 1908 at the Wertago copper field and the Nuntherungie silver field. These are clusters of relatively small-scale deposits west of the Koonenberry Fault.

The Koonenberry Belt mineralisation is derived from fluids emanating from the deep crustal Koonenberry Fault and several phases of deformation with the potential to focus, trap, concentrate or remobilise mineralised fluids. This has resulted in several recognised styles of mineralisation at the Koonenberry Project:

  • Turbidite hosted orogenic gold, associated with the Benambran Orogeny and analogous with the Stawell Zone of the Western Victorian goldfields
  • Placer and Palaeoplacer gold that has been exploited historically and is the objective of current prospecting
  • Epithermal Ag-Pb-Cu, as evidenced by the Wertago Copper Field and numerous copper showings within the Project area
  • Hydrothermal replacement deposits at basin margins evidenced by mineralisation at the Nuntherungie Basin
  • Volcanogenic Massive Sulphide (VMS), as evidenced by Ausmon Resources’ Grassmere deposit (5.75Mt @ 1.03%Cu, 0.35% Zn, 2.3 g/t Ag and 0.05 g/t Au)2 hosted by Ponto Group sediments, which outcrop on the western side of the Project area.

¹ McQueen, 2007
² https://ausmonresources.com.au/koonenberry

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