Cauldron Energy Ltd (ASX:CXU) (OTCSMKTS:CAULF) (FRA:UFX) has received consent from Melbourne Water, the final regulatory step required for the company to initiate its exploration operations at the Blackwood Gold Project in Victoria.
Obtaining of the consent allows Cauldron to utilise the 1.5-kilometre Tyrconnel Adit to access the multiple reef and shaft systems as part of its planned underground exploration programs at the historic Blackwood mine.
Melbourne Water’s consent follows approval in March 2021 by Victoria’s mining regulator, Earth Resources Regulation (ERR) for Cauldron’s planned priority underground drilling and sampling exploration operation.
With consents having now been received from ERR and Melbourne Water, Cauldron is free to commence its exploration operations.
“Exciting prospect”
Speaking to the milestone, chief executive officer Jess Oram said: “Achieving the final regulatory step that allows underground access to mineralised reefs of the Blackwood system will now allow Cauldron to investigate the plunge extensions of known mineralisation.
“It is an exciting prospect to finally be in a position to test for extensions of the goldfield whilst ensuring the pristine environment remains unharmed.”
Cauldron visited the Blackwood site back in April as a bid to initiate community engagement following its approval to drill and access the extensive underground tunnel system for sampling extensions of historic shafts and multiple gold reef intersections.
Ideal platform to test high-grade gold
Receipt of Melbourne Water’s consent to the Company’s application for Minor Works on or near waterways, MWA-1208356, is the final regulatory step required for exploration activities in and around Tyrconnel portal.
The Tyrconnel adit bisects both the Eastern and prolific Western reef systems around 100 metres below surface, underneath a cluster of shaft collars installed by historic miners.
This provides the geologists the ideal platform to test both the up-dip and down-dip extension of this zone of known high-grade gold mineralisation.
Compared to drilling from surface, these drillholes are significantly shorter in length, thus reducing cost, and importantly provides no interruption of the enjoyment of the local community living at Barry’s Reef
Board changes
Following Simon Youds move to an executive role in May, Oram will transition to a non-executive board role in the coming weeks with the changes reflecting a shift in Cauldron’s operational focus.
The company retains access to the geological skills and experience while providing a focus on advancing each project along the project development pipeline.