Projects

North Kambalda Gold Exploration

Background

In June 2016, the gold rights to Mincor's North Kambalda landholdings reverted to Mincor. Mincor has owned this land outright since 2007 and it is the location of Mincor's North Kambalda Nickel Operations, hosting the currently dormant Otter Juan nickel mine and the development-ready Durkin North nickel project.

The reversion of the gold rights to Mincor, together with substantial exploration data, has created an outstanding new opportunity in gold for the Company in this highly prospective terrain.

Kambalda regional gold setting – left: gold in soil map; right: major controlling gold structures

Regional Gold Setting

Mincor’s North Kambalda land is located in a tier one regional gold setting, surrounded by multi-million-ounce gold camps and containing the highly endowed Boulder Lefroy Fault Complex. As such, it holds tremendous exploration potential and there is a direct comparison to the structural patterns and gold deposits of the adjacent multi-million-ounce South Kambalda gold camps. The long-lived Alpha Island Fault plays an important role in focusing gold at South Kambalda and it is possible that the lookalike Woolibar Fault on Mincor’s ground played a similar role.

North Kambalda geology plan

North Kambalda Gold Targets

SIG drilled 58 RC holes and three diamond drill holes for 7,482 samples and in addition resampled 19,177 WMC pulps or drill holes for gold. From this data, SIG identified four gold prospects based on soil geochemistry and/or previous WMC gold analysis of drill holes.

Since acquiring the additional gold data, Mincor has identified structures that are mineralised both at depth and near surface. Other major structures such as the Loreto Thrust have sporadic gold mineralisation but very few of the drill holes that intersect it have been assayed for gold, leaving its full gold potential untested.

Given Mincor’s belief in the high gold potential of this area, a sustained exploration program has commenced, initially targeting accessible, near-surface gold mineralisation.

North Kambalda cross section 551575N