GTI Resources Ltd (ASX:GTR) has received an independent WAMEX compilation report from CSA Global assessing the historical gold production and exploration activity at newly granted prospecting licences within the Niagara gold district in Western Australia.
The report highlights the material past production and drilling, which has occurred on the newly consolidated land package comprising newly granted P40/1515, P40/1516, P40/1517 and P40/1506 and the recently acquired P40/1513 and P40/1518.
The independent compilation of historical mine records, from WAMEX reports, indicates that the workings produced 5,100 ounces of gold at a grade of 25.8 g/t between 1898 and 1914.
Executive director Bruce Lane said that the report had pulled together all known historical information available for the newly consolidated package, which incorporates the historic White Cross and Perseverance mining areas as well as smaller trends including the Christmas and Good Friday trends.
GTI’s Orion Trend extends from ENE to the south of the tenements and hosts the historic Orion-Sapphire Mine.
“Exceeded expectations”
Lane said: “What the report has revealed has exceeded our expectations in terms of the exciting gold potential of the ground.
“We are now evaluating our options to create shareholder value from the project as we prepare a plan and permits to properly test this historically heavily worked area using modern exploration techniques.”
Highlights from CSA’s report include:
- Historic workings in the tenement package targeted high-grade quartz veins and were largely operations in 1898–1914 with reported production of 6,800 tonnes at 25.8 g/t gold for 5,100 ounces gold;
- Notable intersections such as 2 metres at 70.5 g/t gold from 7 metres, 2 metres at 15.4 g/t from 10 metres, 2 metres at 11.3 g/t from 22 metres and 1-metre at 10.7 g/t from 19 metres;
- Extensive historic workings and reported high-grade production in east of the project area represents an advanced exploration play;
- The project contains three high-priority advanced exploration target areas, two second priority intermediate exploration areas and three earlier stage exploration target areas;
- Historical drilling has targeted historical workings at shallow levels with drilling typically to 50 metres depth or shallower; and
- An opportunity exists to extend the known mineralisation from historic workings to deeper levels and along strike with further drilling.