silver swan south (GOLD & NICKEL)

Silver Swan South Project

The Silver Swan South Project is a gold and nickel project located approximately 20km northeast of Kalgoorlie that is comprised of 7 granted exploration tenements covering a total area of 45.2km2

The Silver Swan South Project lies approximately 10km northeast of the Kanowna Belle Gold Mine operated by Northern Star Resource Limited and lies along the structural trend of the Fitzroy Fault (the primary control on mineralisation at Kanowna Belle).  The project has had historic exploration by both Blackstone Minerals and previous tenement holders. Historic work that supports gold and nickel exploration targeting at the project includes rotary air blast (RAB), aircore (AC) and reverse circulation (RC) drilling and a number of airborne and ground geophysical surveys. A significant portion of the historical work is interpreted to have not effectively tested the geological opportunity due to not penetrating into bedrock due to the presence of thick surficial cover.

Silver Swan South Project Tenements and prospects on interpreted geology.

Exploration targets at Silver Swan South include Black Eagle where historic drilling has intersected encouraging gold mineralisation in SNAC070: 11m at 2.92g/t Au from 68m at the interpreted base of transported cover and into weathered bedrock. Adjacent to this is a geophysical anomaly derived from Moving Loop Electromagnetic Surveys (MLEM) which corresponds very closely with the inferred position and dip direction of the north-south striking komatiite unit that could host nickel mineralisation. RC and diamond drilling (DDH) will be used to explore these areas and to develop the understanding of the concealed basement stratigraphy and structural setting.

At Black Hawk there is recent bottom of hole intercepts that support RC follow up drilling to test gold anomalism (SNAC027: 7m at 1.3g/t Au) in felsic stratigraphy adjacent to the interpreted trend of the Fitzroy Shear Zone.

The Venus project straddles the stratigraphic contact between the komatiite and the felsic volcans and has both gold and nickel anomalism. Systematic modelling of the stratigraphy and structural setting will provide further robust targets.

At Black Falcon the presence of elevated nickel in the in-situ clay zone (SNAC019: 24m at 0.6% Ni, 115ppm Cu and 468ppm As) supports follow up drilling and a review of the benefits of additional MLEM surveying.