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Alice River Gold Project


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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 Project includes rocks of the Proterozoic Holyroyd Metamorphics, which have been intruded by Late Silurian to Early Devonian Granitoids of the Pama Igneous Province. 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.

Spitfire’s maiden RC drilling program, which was completed in November 2017, returned outstanding results, with significant intercepts including:

-              17AARC002                         14m @ 1.59 g/t Au from 51m

-              17AARC004                         5m @ 2.67 g/t Au from 112m; and

                                                            7m @ 1.57 g/t Au from 139m

-              17AARC005                         2m @ 25.03 g/t Au from 89m; and

                                                            13m @ 1.50 g/t Au from 111m, including

                                                            3m @ 2.69g/t Au

-              17AARC007                         14m @ 5.47 g/t Au from 71m, including

                                                            5m @ 12.85 g/t Au

-              17AARC008                         17m @ 1.59 g/t Au from 106m, including

                                                            8m @ 2.45g/t Au

-              17AARC009                         17m @ 3.26 g/t Au from 89m, including

                                                            5m @ 8.45 g/t Au

-              17AARC011                         17m @ 1.54 g/t Au from 26m, including

                                                            2m @ 6.45 g/t Au

The drilling results have confirmed that high-grade gold mineralization occurs over moderate widths, associated with quartz-sulphide veining, within intense broad envelopes of alteration (sericite, chlorite, clay and epidote).

3D modelling of the White Lion Aeromagnetic Anomaly, 15km to the south-east, has revealed a 1.5km wide circular magnetic donut feature with a magnetic source from around 100m to >500m depth that coincides with anomalous surface rock chips values of >1.0 g/t Au at surface. This represents an exceptional Mt Leyshon-style intrusion-related gold target which will be further evaluated as part of planned follow-up drilling in early 2018.