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Alice River Gold Project

Queensland

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The Alice River Gold Project is located 470km north-west of Cairns in NE Queensland. The project encompasses eight Exploration Permits for Minerals (EPMs) and eight granted Mining Leases (MLs), for a total of 808 square km.

Figure 1: Location, Alice River Gold Project

The Alice River Gold Project includes rocks of the Proterozoic Holyroyd Metamorphics, which have been intruded by Late Silurian to Early Devonian Granitoids of the Pama Igneous Province. The gold mineralisation occurs at several prospects along the Alice River Shear Zone, a 50-60km long north-west trending set of shear zones located with the Alice-Palmer Structural Zone.

The project has had a long history of prospecting and exploration work, commencing with the discovery of gold by John Dickie in 1903. In the late 1970s, Anaconda Australia explored the northern parts of the project around the Potallah and Gossan prospects including undertaking geochemical surveys, geophysical surveys and drilling. In the 1980s to 1990s, a significant amount of exploration work was conducted by Cyprus Gold Australia, Beckstar and Goldminco, which focused further south around the Peninsula King, Alice Queen and Posie prospects.

Figure 2: Tenements and regional geology, Alice River Gold Project

All of the significant gold mineralisation which has been identified historically is encompassed within granted Mining Leases. A large amount of drilling was completed along the Alice River shear zones during the period 1987 to 1998 (469 holes for a total of 18,294.7m drilling including 8,322 assays).

Gold mineralisation was discovered at several prospects associated with the NW shear zone including Alice Queen, One Mile, Peninsula King, Big Blow, German Jack, Julie Anne, Posie, Jerry Dodds, The Shadows, Eureka, Airstrip and Taylors.

The gold mineralisation in the Alice River area is focused along regional NW shear zones. The shear zones are largely hosted within the Imooya Granite, a pale grey to white mica-biotite leucogranite (commonly referred in the old reports as an adamellite), of the Siluro-Devonian Kintore Supersuite.

Mineralisation is generally hosted in quartz veins and minor quartz breccias, up to 10m wide in places. Gold often occurs as both fine free-gold in quartz or interstitial within arsenopyrite and stibnite. Green-white quartz-sericite-epidote alteration zones extend for 50-70m around the mineralised veins at the Peninsula King Deposit, but generally the quartz veins display narrow alteration selvages.