Delaney Gold Project - Georgetown, North Queensland (100% CUU)
The Delaney Gold Project is located 22 km north of Georgetown and is one of a number of gold prospects located along the North trending Delaney Fault, including the Electric Light Deposit approximately 2.5 km to the south. The Delaney Gold Project is located in a substantial offset in the north trending fault. Anomalous soil geochemistry was defined over a strike length of 1,000 metres and grab sample results returned between 13 g/t gold and 39 g/t gold. Reverse Circulation drilling along the grid returned anomalous results from the northern section whilst the southern section of the soil anomaly remains untested, except for 4 holes drilled by Planet Metals under a joint venture in 2011.
The Delaney Gold Project bears many similarities to the Electric Light Gold deposit and further work to establish controls on the higher grade mineralisation intersected is warranted. The figure below shows the location of the 18 historical drillholes relative to gold anomalies in soils. There is significant potential within the project area for discovery of new areas of high grade gold mineralisation as well as for extending the known mineralisation to define a JORC resource with a minimal amount of exploration expenditure.
The Company retains 100% of this project as well as major extensions of the goldbearing structures southward into the "Central Area" nearer to Georgetown.
