© 2019 Golden Mile Resources Ltd. 

Golden Mile Resources Ironstone Well Gold Project (formerly known as 'Braemore') is composed of 6 granted prospecting licences. These tenements host a number of historical gold workings as well as a number of more recently discovered prospects. The 'Natasha' prospect, on the western side of the project, is of particular interest due previous exploration highlighting its potential to host economic gold mineralisation.  

IRONSTONE WELL GOLD PROJECT

Figure IS1 - Ironstone Well Au Location

Figure IS2 - Ironstone Well Au Outcrop 

             Geology & Prospects

Summary

The Ironstone Well Gold project is located 6 km to the north-northeast of Leonora and hosts a number of target areas, including the 'Natasha' and 'Sophie' prospects on western side of the tenements.  The project is composed of 6 granted prospecting leases (P 37/7951-52, 8484 & 8610-12) covering over 12 square kilometres and more than 5 kilometres of prospective strike.

The geology of the project is characterised by a deformed stratigraphy and contains numerous predominantly north-northwest‐trending subparallel shear zones.  Most of the gold deposits in the Leonora area are located along these shear zones.

Targets within the tenement area include the Natasha, Sophie, Pig Well and Portia prospects, all of which have returned anomalous gold mineralisation in sampling.

Potential

The Ironstone Well region has a long history of exploration and mining, dating back to the 1930s when prospectors worked the quartz vein hosted gold deposits at the nearby Fitzgeralds and Lady Smith deposits.

 

Modern exploration at Ironstone Well commenced in the late 1960s, however the most significant programs were conducted in the mid to late 1990s. Cambrian Resources NL conducted a significant program of drilling across the western tenement area and defined significant gold mineralisation in both the near surface environment and at depth, at Natasha and Sophie. 

 

Cambrian's drilling at Natasha returned a number of high-grade intercepts including:

RWR167     6 metres @ 1.71 gpt Gold from 44 metres depth and

RWRC2     12 metres @ 7.13 gpt Gold from 84 metres depth.

The field program at Ironstone Well will include:

  • Systematic ground checking  to validate the both the geochemical and geological targets, with a strong emphasis on the advanced targets at Natasha and Sophie

 

  • Infill and extensional drilling at Natasha to evaluate previous mineralisation models and advance the prospect towards a  JORC 2012 resource and potential development

 

  • Extensional and infill surface sampling over known, and recently identified, targets with drill testing as required.

The Company's 'first pass' review of the project  shows a significant number of anomalies at surface and in drilling that require investigation. The project lies close to both logistical and production orientated infrastructure in the region, including St Barbara's Gwalia gold plant, located 12 km to the south, making the gold mineralisation at Ironstone Well an exploration priority.