PLD Corporation (ASX: PLD) wholly owns the Stuart Town Gold Project in the Lachlan Fold Belt, and the company is looking to increase exploration over the single license, which covers 130 square kilometres and is 65 kilometres north of Orange.
SRK Consulting have been engaged by PLD Corporation to guide exploration activities, which includes the compilation of all publically available and historic exploration data into a GIS platform, and modelling of the data to determine targets for immediate follow up.
The Stuart Town project is in an area chiefly composed of Devonian Cunningham Formation sedimentary and volcanic rocks, which are reported to host more than 70 lode-gold (quartz vein) and alluvial gold occurrences.
Looking further, the Lachlan Fold Belt hosts world class copper-gold deposits such as Newcrest Mining (ASX: NCM) Cadia Ridgeway Mines (2.35bt at 0.44g/t gold and 0.28% copper) and Rio Tinto's (ASX: RIO) Northparkes Mine (449mt at 0.29g/t gold and 0.63% copper).
Date reviewed to date; moving forward
Data reviewed to date has identified over 40 historic reports dating back to 1974, documenting previous exploration work and more recent sophisticated geophysical modelling in the area, and 70 gold occurrences.
PLD Corporation said that the next stage of exploration is focussed on ground truthing of interpreted structures in the northwestern part of the tenement, which potentially host the broader trend of quartz veins in the licence.
Reconnaissance mapping with regional-scale rock chip sampling of high-priority targets will constitute the main component of field work.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.