Terrain Minerals Limited (ASX: TMX) has submitted tenement applications totalling ~2,500 square kilometres of highly prospective ground adjacent to, and along strike of, the Cracow Gold Mine in Queensland.
Included within this extensive tenement application package is at least two known historic copper mines as well as numerous copper and gold targets, first identified by Rio Tinto, Gold Field Limited and Newcrest Mining Ltd.
Highlights:
Seven potential copper and gold sites identified within the Biloela/Cracow region of Queensland, including:
- Prospect Park, where 8 rock chip samples collected returned values up to 2.33 g/t gold and 9.23% copper.
- Mari, where secondary copper mineralisation has previously been reported.
- Lookerbie, which includes the historic Perkins copper occurrence.
- Drumburle, an abandoned copper mine initially discovered by CRA (now Rio Tinto).
- Wild Scotsman (Mt Tam), initially identified by Gold Fields Limited who discovered a copper and gold mineralisation.
- Oaky Creek, which is marked by an abandoned copper-gold-silver mine.
- Auburn, where soil sampling returned up to 0.45% copper and 3.2 g/t gold.
Follow up exploration planning underway:
Terrain’s internal geological team has identified seven potential copper and gold sites at the Company’s 100% owned (under application) Biloela Project (Biloela) in Queensland. Terrain estimates that it will take around six months until applications are granted, and heritage agreement will also need to be established.
The sites were identified as part of a comprehensive and independent, prospectivity study of existing geological and geophysical data sets by external consultants commissioned by Terrain revealed several zones of potential copper-gold mineralisation.
The Biloela Project lies 13 kilometres north of the Cracow Gold Mine in the Glandore and Theodore region of Queensland. The northwest-trending faults within the north-eastern part of the Biloela Project are similar to those present at the Cracow Gold Mine and are considered the most prospective for epithermal-style gold mineralisation.
The northwest-trending faults within the north-eastern part of the Biloela Project are similar to those present at the Cracow Gold Mine and are considered the most prospective for epithermal-style gold mineralisation.
The Geological Survey of Queensland (GSQ) database reveals the Biloela Project has been subject to numerous historical exploration activities primarily focused on gold, copper and coal. GSQ reports a total of 19 mineral occurrences within Terrain’s Biloela Project, of which seven sites include historical mining activities.
