The Woolgar Gold Project
100% Strategic Minerals Corporation N.L.
The project incorporates six Exploration Permits for Minerals (EPMs) covering an area of 493 km² over prospective areas within an area of 31 kilometres from north to south and 26 kilometres from east to west, along with eight Mining Leases (MLs) over resources and infrastructure.
Gold was discovered at Woolgar over 100 years ago, although systematic exploration did not commence until the late-1970’s. Epithermal veins were discovered in the 1980’s and were the focus of exploration until the recent discovery of the mesothermal-style BVS deposit.
Figure: Geological location map of the Woolgar Project showing principle road and rail infrastructure, and the regional geological provinces. The deposits shown are existing epithermal, mesothermal and IRGS gold deposits greater than 1Moz throughout Northeast Queensland, which are considered to be of comparable ages, styles and occurrences to the known mineralisation at Woolgar.
Alluvial and reef gold was discovered in the Woolgar District in 1888 and was the scene of a modest gold-rush. Small-scale mining continued intermittently until 1984 along 15 kilometres of the Woolgar trend.
These deposits were first tested using modern methods by Billiton in 1978 and Strategic in 1979, after which time exploration activity focused on the newly-discovered, high-grade, near surface epithermal veins in the Sandy Creek sector.
The high-grade epithermal gold veins at Woolgar were first identified by Strategic in the Sandy Creek area in 1986. These were recognised as having the potential to host a major gold deposit and became the focus of exploration until 2008 through two consecutive joint ventures with Barrick Gold and Oxiana. By 2008, a 795,000 ounce gold resource (JORC 2004-compliant) had been delineated, comprised of 678 koz in epithermal veins in Sandy Creek and 95 koz in the Soapspar intrusive related system and the remainder in small mesothermal bodies.
Subsequent exploration programs have focused on the mesothermal gold veining along the Woolgar Fault Zone, a major regional structure related to several other gold deposits including Kidston.