Highly prospective Gold Project in tier-1 mining jurisdiction
Midas’ Weebo Gold Project located near Leinster, Western Australia is surrounded by active and historic gold mines including Thunderbox to the south, Bronzewing-Orelia and Mt McClure to the north and Darlot-Centenary to the east. The project covers approximately 450km2, comprising of an option over 198km2 of tenements and two exploration licence applications totalling 255km2.
Weebo is 60km strike of the Yandal greenstone belt, with Mt McClure and Ockerburry fault/shear zones other major structures in the area. Limited exploration has been completed since 2006 and prior rotary air blast (RAB) drill holes and scattered reverse circulation (RC) holes require follow up.
The Ockerburry trend, along strike of Northern Star’s Thunderbox mine, is a major shear zone hosting mineralisation, over 5km strike. Key highlights from prior wide-spaced RAB/Aircore drilling include:
- MSR789 – 4m at 29.9g/t Au from 8m including 1m at 71.4g/t Au, 1m at 11.4g/t Au and 1m at 27.8g/t Au
- MSR1562 – 23m at 0.97g/t Au from 23m to end of hole, including 12m at 1.21g/t Au from 73m
- LWWA0072-16m at 2.8g/t Au from 52m including 1m at 43.6g/t Au from 63m
Scone Stone prospect is a 1.2km strike 0.25km wide, strongly altered, brecciated felsic volcanic unit with sulphides located to the west of the Ockerberry trend. There has been limited drilling completed to date with intercepts including:
- MSR1870 – 32m at 0.44g/t Au from 32m to end of hole
- MSAC0095 – 25m at 0.73g/t Au from 28m including 2m at 1.9g/t and 3m at 3.0g/t and 13m at 0.65g/t Au from 61m to end of hole, including 4m at 1.77g/t Au
- MSAC0105 – 7m at 1.24g/t Au from 18m including 1m at 6.85g/t Au
- MSRC0157 – multiple intercepts totalling 38m at 0.40g/t Au
- MSRC0158 – multiple intercepts totalling 70m at 0.69g/t Au including 10m at 1.33g/t Au and 7m at 1.37g/t Au
- MSRCD0159 – multiple intercepts totalling 39.5m at 0.41g/t Au
- MSRC0160 – 17m at 0.52g/t Au from 165m to end of hole including 1m at 3.54g/t Au
- MSRC0161R – 7m at 1.52g/t Au from 49m
- MSRC0165 – 8m at 1.09g/t from 47m, including 4m at 2.03g/t Au
- MSRC0166 – 11m at 0.8g/t from 131m, including 1m at 4.14g/t Au
- MSRC0170 – multiple intercepts totalling 16m at 1.38g/t Au, including 4m at 4.37g/t Au
Otto 1 has a strike length of 1km and is located 5km along trend to the north of NST Otto Bore deposit. Otto 1 is covered by shallow Tertiary and Permian sediments.
Otto 2 is located to the east of Otto 1 on an interpreted significant NW trending lineament intercepting the NNW stratigraphy. Eight reverse circulation drill holes were drilled over a 1.2km strike length through about 80m vertical depth of Permian sediments. Various zones of encouraging alteration and quartz veining were intersected within drilling and all holes intercepted anomalous to significant gold mineralisation.
- MSRC0183 – 8m at 0.58g/t Au from 94m and 1m at 1.34g/t Au from 151m
- MSRC0185 – 13m at 0.43g/t Au from 126m and 4m at 1.96g/t Au from 152m;
- MSRC0186 – 2m at 2.27g/t Au from 164m;
- MSRC0189 – 15m at 0.65g/t from 129m, including 6m at 1.07g/t Au from 131m
- MSRC0190 – 14m at 0.32g/t from 108m and 2m at 1.34g/t Au from 192m
Other targets identified include:
Sir Samuel – The Sir Samuel prospect covers an area of 3km x 1.5km within which there are a number of mapped minor surface gold workings and very wide spaced rotary air blast (RAB) drilling (800m x 100m). A number of these RAB drill holes intersected anomalous gold. The best RAB intercepts included 1m at 13.2g/t, 3m at 0.93g/t, 16m at 0.21g/t and 8m at 0.25g/t gold. These results are encouraging given that the effective drill coverage was about 20% on drill lines spaced at 800m intervals.
Wheel of Fortune – The Wheel of Fortune is an area that is essentially devoid of any drilling or systematic modern exploration as it was held by prospectors and individuals until the Company was granted the Weebo Option. The prospect area is 3.5km strike by 1km width and encompasses at least 5 areas of historic workings and numerous more recent nugget discoveries. The Company will be the first company to be given the opportunity to geologically assess and drill test this highly prospective area.
Ockerburry, Scone Stone and Otto are all drill ready with numerous anomalous to significant RAB/aircore intercepts. Diamond drilling will be undertaken to establish orientation of mineralised structure and geophysics (surface or down hole) will help define targets. Work is underway to infill and compile prior magnetics, gravity and IP.