The Buccaneer Project was part of the Bluebush/Twin Bonanza project area that is currently subject to a sales agreement with Stockton mining. The project is located around 90km to the North-West of Newmont Mining’s world class Callie Gold Mine. The Buccaneer Project contains a Mineral Resource of 10.0 Million Tonnes at an average grade of 1.8g/t Au for around 585,000 ounces of gold* (using 1.0g/t lower cut-off grade).
In 2021 exploration activities at the Buccaneer included 17 aircore holes for 1,224 metres and 9 diamond holes for 1,569.7m, with a peak result of 13.35m @ 3.9g/t Au1 and 16.07m @ 5.8 g/t Au2. Also in 2021 work commenced on a scoping study for the Buccaneer Project with Pit optimization and metallurgical studies commissioned to evaluated the potential for a heap leach processing scenario. This work continues into 2022 with results to be released once complete.
Geology and Mineralisation
Gold mineralisation is disseminated within a monzogranite intrusion, and typically associated with quartz veins with visible gold often observed in the quartz stockwork veining. Mineralisation extends from near surface to a depth of over 500m and has been defined in several zones over an area of 2,300m by 800m. Mineralisation is often up to 150m thick with intervals of 20-40m wide at 1-5g/t Au3. The deposit remains open at depth, and aircore and RAB drilling suggest the potential for further strike extensions.