Tully Richards, Gold and Copper Resources Pty Limited - Lucknow and Surrounds – New Thoughts on an ‘old field’, Implications for Exploration
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Tully Richards, Gold and Copper Resources Pty Limited - Lucknow and Surrounds – New Thoughts on an ‘old field’, Implications for Exploration

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Tully Richards, Exploration Manager, Gold and Copper Resources Pty Limited delivered the presentation at the 2013 Mining NSW Conference. ...

Tully Richards, Exploration Manager, Gold and Copper Resources Pty Limited delivered the presentation at the 2013 Mining NSW Conference.

The 2013 Mining NSW Conference looked at mine exploration and development opportunities in Central NSW and the Northern Tablelands with a spotlight on capital raising outlook and overseas investment.

For more information about the event, please visit: http://www.informa.com.au/miningnsw13

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Tully Richards, Gold and Copper Resources Pty Limited - Lucknow and Surrounds – New Thoughts on an ‘old field’, Implications for Exploration Tully Richards, Gold and Copper Resources Pty Limited - Lucknow and Surrounds – New Thoughts on an ‘old field’, Implications for Exploration Presentation Transcript

  • Lucknow & Surrounds New Thoughts on an Old Field Implications for Exploration Mining NSW 2013
  • Lucknow Gold Ltd is a related entity to Gold and Copper Resources Pty Limited (G&C) (rename Coking Coal, Gold and Copper after Omesh’s address?) Private companies Appealed to and now backed by senior resource industry personnel
  • • Mandate.. – Explore for covered/deep porphyry/porphyry related Au &/or Cu systems within the Orange district
  • WHY ARE WE HERE? • G&C believe Orange is part of a globally significant mineral province yet to be fully uncovered Prospective Ordovician rocks Basalt Cover Siluro/Devonian Seds & Volcs Alluvial sediments
  • WHY ARE WE HERE? This line highlights an apparent - but not real - termination of the mineral occurrences under cover
  • WHY ARE WE HERE? This line highlights an apparent - but not real - termination of the mineral occurrences under cover GOLD AND COPPER have the right tenement package and the right technology to discover unknown porphyries at depth
  • • Principal tools of exploration include – District scale, gradient array - induced polarisation or ‘Zeus/Super-IP’ and – Drilling
  • Super-IP infrastructure ‘poles and wires’ See SMEDG presentation by S. Collins, 28th October 2010 “Very Large Scale Gradient Array IP Survey in the Orange District”
  • Drilling RC drilling > 2.0km Diamond drilling > 11.0km deepest holes outside known mineralised areas
  • Lets take a look at some of the main projects, starting with the Super-IP ‘poles and wires’..
  • Walli/Woodstock Copper District Large (200km2) district with >50 historic Cu occurrences Most significant cluster of Cu workings in region Hosted in the Ordovician Walli Volcanics IP survey 50% complete across the prospective rocks Limited deep drilling in region – 80% of drilling completed by GCR PRIVATE & CONFIDENTIAL
  • Merriwonga & Greenbrook PRIVATE & CONFIDENTIAL ?leakage including 0.5% Cu & 350ppm Mo (above) and native gold with Jamesonite a Pb-Sb- Fe-S (below)
  • Visible Au in quartz vein Visible Au in qtz frm SRD001 305g/t Au taken from nearby surface rockchip 25g/t Au 1.13% Cu 150m chalcopyrite 0.5g/t Au with coarse galena Significant Samples ~20km
  • • So what about reconciliation re Super-IP? – Early days – Better than magnetics? – Have metal in core..
  • PRIVATE & CONFIDENTIAL
  • PRIVATE & CONFIDENTIAL Qtz+epidote vein with chalcopyrite and bornite: XRF spot values of 7648ppm & 4833ppm Cu Pale sph and galena in healed fault breccia containing silica/sericite/pyrite: 1.29g/t Au Seritically altered dike adjacent to carb+sulphide vein returning 0.58g/t Au
  • Significant Results include: 1.15m @ 0.58g/t Au with anomalous arsenic (2080ppm), silver (0.98g/t), moly (5.24ppm) and antimony (19.9ppm) from 35.45m 1.3m @ 0.3g/t Au with anomalous arsenic (1770ppm), silver (9.18g/t) moly (4.2ppm), mercury (4.2ppm), antimony (22.4ppm), lead (1355ppm) and zinc (3430ppm) from 55m 3.6m @ 0.13g/t Au from 62m with 4.6m @ 4.3ppm Mo from 61m 0.6m @ 1.29g/t Au with anomalous Mo (3.39ppm), lead (505ppm) and zinc (3430ppm) from 396.8m Copper to 0.08% from 34.7m – 35.1m Significant gold associated with dikes which are in-turn assoc. with anomalous As, Ag, Sb, Hg +/-Mo in disrupted Qtz-Carbonate vn’s Each of the three initial holes intersected Forest Reef Volcanics and/or Weemalla Formation (ie host rocks to Cadia Valley mineralisation) Pale sph and galena in healed fault breccia containing silica/sericite/pyrite: 1.29g/t Au PRIVATE & CONFIDENTIAL
  • The best place to explore is in the shadow of the headframe..
  • • The best place to explore is in the shadow of the headframe..
  • So what about this? It’s not a Uranium! It’s not Kryptonite!! It’s Ca3Cr2(SiO4)3 a common ingredient in calc-silicate skarns proximal to many porphyry environments…
  • and this? LUK004 226m-247m 21m@0.5g/t, including 1m@5.33g/t Intersection part of east- west trending alteration/mineralisation. Further support from recent rock chips (>1g/t) taken from road works
  • If this project was in WA and 200kms east of Perth it would now look like Swiss Cheese for the drilling that would have been completed! So where is Lucknow and what else is around?
  • Huntley Surprise Mine
  • Surprise Mine • Newcrest drilled 6*RC holes to 40m (vert depth) • Gold values of 3.12g/t and 2.13g/t recorded near historic workings • GC0013 4m@0.41g/t (from 4m) & 4m@0.43g/t (from 36m) • GC0016 8m@0.28g/t (from 44m) & 4m@0.63g/t (from 66m) • Another 3 anomalous intersections exist, along strike, b/w Surprise Mine & Huntley (some ~4km)
  • 1m @ 5.2g/t 1m @ 2.7g/t 0.9m @ 9.9g/t 1m @ 1.5g/t 2.9m @ 1.2g/t 1m @ 2.5g/t 1m @ 2.2g/t Andesites – Byng Volcanics Feldspar Porphyry Sediments – Malongulli Formation 2m @ 22.4g/t 1m @ 0.9g/t 7m @ 6.7g/t • 12g/t Au, 4.4%Zn, 2%Pb • 29.8g/t Au & 17.9g/t Ag • base metal Qtz-Co3 gold veins along Newhaven Shear (strong orogenic look?), however…. • Tourmaline alteration present within HDD009.. Huntley
  • So,…reflecting on another exploration statement… “porphyries are not found they're made” Lets look at what we have now and what the implications are..
  • Further to the geology (including almost 3km of deep drilling at Lucknow) we have Super-IP.. Super-IP has given us a large/complex signature that gives perspective to the discussed observations..
  • But explorers have understood the necessity for new ideas and new technology in delivering new discoveries for awhile…haven't they?
  • G&C agrees with the below, however, would also claim surveys like Super-IP have there place in conjunction with point 4
  • Further to Johns insights, the government has also acknowledged the value of new technologies etc..
  • Recognise the value of the states geology…
  • Super-IP would be quite at home in the above mix, furthermore it maybe a better replacement re a number of the above?
  • • our smartest explorers understand what’s required (and have done so for awhile..) • G&C’s early efforts have turned the understanding of the districts geology ‘on its head’ • G&C have continued with a sustained exploration strategy while unfortunately (particularly given the praise given in regards to Cadia) some of our neighbours have ‘shut up shop’
  • • The appeal of good projects will return – NSW should be well placed! • Periods when the drills are not busy represent times to lobby and seek change to policy to improve the situation for explorers – Get your submissions into the Aust. Govts Productivity Enquire re Exploration – ‘..we don’t have time for a meeting of the Flat Earth Society..’
  • Surveys like G&C’s Super-IP are G&C’s ‘bold’ follow up drilling are the next chapter to John’s 2004 presentation.. Past Present and Future G&C well placed to deliver the states next big economic hydrothermal system out of the numerous projects that have resulted from the work to date