East Gippsland Project (Victoria)
This is a potentially million ounce plus project, targeting both alluvial and hard rock gold. Victoria is a world renowned gold province with over 80 million ounces being mined in Victoria over the last decade but much of Victoria remains unexplored with modern technology.
The project began as two exploration licenses of 700 sq.km that contains most of the historic gold mining areas of east Gippsland including 6 areas of historic hard rock production. These exploration licenses have been reduced to 275 sq. kms of hard rock and alluvial targets, plus there is an application in process of 158 sq. km’s.
The licenses cover virtually a complete gold field, native title is in place. Targeted exploration of the gold field has been completed over the last 6 years and over 3million has been spent defining numerous hard rock and alluvial gold bearing deposits in the gold field.
More than 6 hard rock AU bearing deposits with potential multi-million tons resources have been located to date, and drill testing these targets is a priority for lithium gold mines.
More than 5 alluvial AU bearing deposits with potential again for multi-million tons quantities have been located and reports indicate a bulk sample of >2.2g/t content in one deposit.
A bulk sample plant has been set up and is ready to start bulk sampling of these areas. Lithium gold mines intends start production on alluvial area’s and is now examining most efficient system to suit deposit and gold types.
The alluvial’s generate a fast sustainable income return with a small capital outlay , long term the target will be unlocking the massive hard rock potential of this resource including secondary minerals and rare earths.
There is also a potential cobalt deposit which is being tested and expanded with priority.