Naracoota has acquired an exciting tenement package immediately south of Horseshoe Metals Ltd Horseshoe Lights copper-gold mine and west of Sandfire Resources Ltd high grade copper-gold DeGrussa deposit in Western Australia.
Our focus is exploring and developing orogenic gold and high grade VHMS copper-gold deposits on our lease holding within the Naracoota Volcanics and overlying Horseshoe Formation rocks at the Horseshoe Range project. We will be using advanced electrical geophysics (IP and Resistivity, electro-magnetics e.g. VTEM) to identify targets that will be subsequently drill tested to depths beyond 250m.
The Horseshoe Range project has many old shafts and adits along a 4.5km strike that, when mined between 1897 and 1916, averaged 83.7 g/t Au ( Western Australia Dept of Mines & Petroleum records ). Total gold production was over 3,900oz. Drilling along less than 500m of that strike has intersected significant gold mineralisation e.g. 11m @ 18.1g/t Au; 20m @ 2.1g/t Au; 11m @ 3.15g/t Au; 4m @ 14.8g/t Au; 21m @ 1.7g/t Au----all from shallow depths (<110m).
There has been no modern exploration carried out since 1994, and there has never been any comprehensive geophysical surveys carried out over this exciting project area.
Shallow drilling at Costean 12 intersects numerous broad zones of anomalous gold mineralisation
Strike length 240m+, open along and across strike, and down dip