The Raeside Project consists of two tenements M37/1298 (11.2 sqkm) and E37/1300 (12.0 sqkm) located approximately 10km east of Leonora. Four gold deposits occur within the Project area. These deposits are historic and recognised as Michelangelo, Leonardo, Forgotten Four and Krang. The gold deposits are all located on M37/1298, positioned south of the Leonora-Kalgoorlie railway line and within about two kilometres of each other. The mined open pit, the Forgotten Four (1990-1992 Triton Resources) yielded 55,839t @ 3.92 g/t Au (7,030oz) to a mined depth of 45m. There are at least two mineralised lodes at Forgotten Four of which one was partly mined by Triton.

Forgotten Four open cut, NW face

The regional geology comprises a sequence of Archaean greenstones. The area is underlain by poorly exposed rock units. The gold deposits at Raeside occur within or close to the margins of a large NW (320⁰) trending body of dolerite within a sheared sequence of sediments and volcanoclastic rocks near the southern margin of a porphyry intrusive. The majority of the gold recovered from mining the Forgotten Four mine was from shear bound quartz vein stockworks or sheeted veins and quartz carbonate veins within a narrow carbonaceous shale (dipping 40⁰-60⁰ east), positioned within a granophyric quartz dolerite with carbonate-sericite-sulphide altered wall rocks.

The estimated gold Mineral Resources at Raeside consist of four (4) deposits totalling 2.5Mt @ 2.07 g/t Au for 168,000oz at a 0.5g/t cut-off, as announced 17th of February 2020. The Mineral Resource estimate consists of:

  • Michelangelo – 1.5Mt @ 2.06 g/t for 98,000ozs
  • Leonardo – 0.5Mt @ 2.26 g/t for 39,000ozs
  • Forgotten Four – 0.2Mt @ 2.04 g/t for 14,000ozs
  • Krang – 0.3Mt @ 1.84 g/t for 17,000ozs

Most of the gold mineralised zones at Raeside contain weak stockworks or sheeted veins usually centimetre’s thick and rarely >2m. The veins are predominantly quartz or quartz-carbonate accompanied by disseminated to stringer sulphides, mostly pyrite with minor arsenopyrite (below the base of oxidation).

Geological Plan of the Raeside Project area with located Mineral Resource areas

The Raeside Project area is viewed as prospective for gold and hosts several other target areas outside the four defined Mineral Resources. Follow up evaluations and exploration activities are planned particularly along strike from the defined deposits. Potential to increase the existing Mineral Resources are viewed as probable.