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GnOWS NEST

Project Highlights

  • Agreement to acquire Coruscant Minerals Pty Ltd (Coruscant), the holder of the ~870ha Gnows Nest Project (Project) located 32km southeast of Yalgoo in WA.
  • Project hosts the historic Gnows Nest gold mine with reported production of ~27,925oz at 22g/t Au between 1923 and 1941
  • Recent drilling by Coruscant has outlined an Indicated and Inferred Resource of 113,400t at 3.78g/t Au for 13,777oz Au, which remains open at depth and along strike
  • EMU’s principal focus will be to advance the resource as a near-term production opportunity via a simple shallow open cut gold operation for possible toll treatment
  • Significant scope for resource expansion and further high-grade gold discoveries along strike and down dip of the former mine and within the surrounding exploration holding
  • Project located within same greenstone belt that hosts the world-class Golden Grove copper-zinc mine and has been the focus of recent exploration success for gold by Firefly Resources Limited (ASX: FFR) and base metals by Venture Minerals Limited (ASX: VMS)
  • Targeted program of IP geophysics and RC drilling to commence Q4 2020.

The Gnows Nest Project is located 32km southeast of the township of Yalgoo and covers a total area of ~870 ha. The Project tenement holding comprises a central granted Mining Lease (M59/739) of 7.3 ha, a surrounding Mining Lease application (M59/763) of 279.3 ha and granted Exploration Licence (E59/1735) of 590.3 ha.

The Project tenements overlay a complex structural flexure within the Archean Yalgoo-Singleton greenstone belt, which is bound by the Badja and Walgardy intrusive granitoid batholiths of the Youanmi Terrane to the east and west (Figure 3). The greenstone stratigraphy in the Gnows Nest area comprise mafic and ultramafic intrusive volcanics with intercalations of banded iron formations, banded cherts and an argillaceous sedimentary sequence. The greenstones have a general north-northwest trend but are flexed northward in the vicinity of the Gnows Nest mine. The rock sequences generally dip steeply to the west.  

At Gnows Nest, historical gold workings occur over a 380m strike length, hosted within a 345o trending shear zone, dipping 57o west and averaging ~10m in width, characterised by talc-chlorite schists hosting individual mineralised quartz veins varying between 0.5m to greater than 5m, but typically ranging to 2m. The shear zone is interpreted as a dextral strike-slip fault separating gabbro to the west from metasediments, banded iron formations and cherts to the east. 

Historical gold production from Gnows Nest was mostly via the main shaft system (Figure 4), however significant production shafts were sunk 100m (Shaft B) and 120m (Shaft A) to the north and 150m (Shaft C) and 210m (Shaft D) to the south.

Underground mining extended to 5 levels (~135m deep) exploiting a central, steep-plunging ore shoot over a strike length of 80m in the main shaft area. More recent surface alluvial/colluvial mining was carried out in the northern and southern areas of M59/739.

Mines Department (DMIRS) records indicate that between 1923-1941, 39,746t of ore was treated with 868.566 kg (~27,925oz) gold produced at a recovered grade of 21.85g/t Au.

Historic RAB, AC, RC and DD drilling totals over 11,000m mainly within M59/739. Recent, (2018-2019) close-spaced resource definition RC drilling by Coruscant at the Gnows Nest mine returned the following significant intercepts:

  • 18GNRC001: 5m @ 5.04g/t Au from 29m incl 2m @ 9.94g/t Au
  • 18GNRC002: 6m @ 9.52g/t Au from 40m incl 4m @ 13.2g/t Au
  • 18GNRC048: 13m @ 13.73g/t Au from 39m incl 2m @ 76.24g/t Au
  • 18GNRC049: 12m @ 6.24g/t Au from 23m incl 4m @ 17.40g/t Au
  • 18GNRC035: 5m @ 4.06g/t Au from 23m incl 1m @ 10.67 g/t Au 
  • 18GNRC026: 4m @ 5.51g/t Au from 44m
  • 19GNRC091: 4m @ 4.01g/t Au from 2m incl 2m @7.80g/t Au
  • 19GNRC120: 8m @ 7.01g/t Au from 42m incl 4m @ 13.62g/t Au
  • 19GNRC071: 5m @9.69g/t Au from 48m incl 1m @ 34.29g/t Au

Further details of the drilling programs are provided in Annexure B (drill hole collar data) and Annexure C (Intercepts >1.0g/t Au).

The Gnows Nest mine area was pattern-drilled by Coruscant on a 10m x 10m grid to a maximum depth of only 54m allowing for a resource estimate to be completed. The Mineral Resource reported in accordance with the JORC Code (2012)

Exploration Strategy

 

 

EMU’s priority at Gnows Nest will be to advance the Mineral Resource as a near-term production opportunity via a simple shallow open cut gold operation for possible toll treatment.

The Project, which encapsulates an historic gold mining field, will also be the subject of ongoing exploration directed at growing the resource base. The potential for further high-grade gold discoveries associated with other dilational zones within tenement package is considered high.

Coruscant’s drilling highlighted the strike and depth potential of the Gnows Nest shear zone outside of the historically mined area with numerous high-grade intercepts reported within the 400m long resource envelope.

In particular, the deepest drill hole (GND-01) intersected 2m @ 7.35g/t Au from 187m including 1m @ 14.50g/t Au, confirming that the high-grade mineralisation persists at depth well below the historic mine workings.

The Gnows Nest shear zone has been traced further south into Mining Lease (application) M59/763 with only wide-spaced drilling completed.

The geological setting of the Project is also considered favourable for VMS base metal mineralisation, being located along the same greenstone belt that hosts the world-class Golden Grove copper-zinc mine and in close proximity to several VMS discoveries recently announced by Venture Minerals Limited (ASX: VMS).

EMU’s initial exploration program will comprise IP geophysical surveys centred on Gnows Nest to trace the mineralised shear along strike and explore for structural repeats. EMU has designed a RC drilling program of 8,000m to improve confidence in the previously defined resource, test for extensions along strike and down dip, and evaluate other priority regional targets.

  • The Gnows Nest project acquisition includes three tenements: a central mining lease M59/739 of 3 ha, a new mining lease application M59/763 of 279.3 ha surrounding the historical Gnows Nest mining centre located centrally over a larger granted exploration lease E59/1735 comprising 590.3 ha, for a total land coverage of ~870 ha.
  • The tenements overlay a complex structural flexure within the Archean Yalgoo-Singleton Greenstone Belt bound by the intrusive granitoid batholiths of the Youanmi Terrane of the Yilgarn Craton. The Gnows Nest area contains greenstone stratigraphy from the Gabanitha Formation and Golconda Formation. The Golconda Formation comprises quartz-hematite BIF units interlayered with mafic and ultramafic rocks. The Gabanitha Formation is a bimodal succession of mafic and ultramafic rocks, felsic volcanics and volcaniclastic rocks which overlie the Golconda Formation.
  • Within Gnows Nest, the historical workings occur over a 380m strike extension.
  • The mineralised shear on which they are located averages about 10m in width comprising talc-chlorite schists and mineralised quartz veins with outcrop widths of up to 0.9m.
  • The shear is interpreted as a dextral strike-slip fault separating typical greenstone lithologies of gabbro on the west from metasediments, BIFs and cherts on the east.
  • All major production at Gnows Nest was from the main shaft system, however substantial prospection shafts were sunk 100m N (Shaft B) and 120m N (Shaft A). Shafts were also sunk 150m S (Shaft C) and 210m S (Shaft D).
  • Underground mining has extended to 5 levels (445’ or 135m) over a central steeply plunging ore shoot in the main shaft area, and more recently, limited surface alluvial/colluvial mining in the northern and southern areas of the M59/739 tenement.
  • Production recorded in company mining records indicate 38,296 t of ore treated for a total of 843.299 kg gold recovered for an average grade of 22.02g/t Au over the period 1923 – 1936. Production recorded by Mines Department (DMIRS) over the 1923-1941 period indicates 39,746t of ore treated for 868,566 kg and a recovered grade of 21.85 g/t Au.
  • The historical underground mining has been undertaken predominantly over the central 80m strike extensions of the sheer zone to depths of 135m.
  • Underground production ceased in 1946, with only limited near-surface and alluvial/colluvial mining conducted in the post-war period.
  • Coruscant’s recent 2018-2019 drilling results include multiple ore-grade intercepts:
    • 18GNRC001: 5m @ 5.04g/t Au from 29m incl 2m @ 9.94g/t Au
    • 18GNRC002: 6m @ 9.52g/t Au from 40m incl 4m @ 13.2g/t Au
    • 18GNRC048: 13m @ 13.73g/t Au from 39m incl 2m @ 76.24g/t Au
    • 18GNRC049: 12m @ 6.24g/t Au from 23m incl 4m @ 17.40g/t Au
    • 18GNRC035: 5m @ 4.06g/t Au from 23m incl 1m @ 10.67 g/t Au  
    • 18GNRC026: 4m @ 5.51g/t Au from 44m
    • 19GNRC091: 4m @ 4.01g/t Au from 2m incl 2m @7.80g/t Au
    • 19GNRC120: 8m @ 7.01g/t Au from 42m incl 4m @ 13.62g/t Au
    • 19GNRC071: 5m @9.69g/t Au from 48m incl1m @ 34.29g/t Au

 

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