TOOLOOM GOLD PROJECT
Exploration Targets
At the present time there are four key prospects at Tooloom. These are:
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PHOENIX – a giant, gold-bearing sulphide system, with 7,000m of existing drilling and a best intersection of 48m @2.21g/t Au; the highest individual (1m) gold assay is 16.5g/t Au and the highest antimony assay (over 1m) is 8.38% Sb; a small resource of the order of 125,000 ounces of gold and 3,500 tonnes of antimony has been estimated for mineralisation in a breccia pipe that forms part of the Phoenix system; that resource estimate was made in-house and does not meet the standards required by the JORC Code; it is thus indicative only.
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PINE GULLY – a ‘Gympie-style’ vein in which gold occurs in a mineralized fault zone, expressed by fault breccia, anastomosing quartz veins and sheared and fractured sandstone and carbonaceous siltstone of the host Emu Creek Formation.
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BACK CREEK – gold occurs in a quartz vein stockwork system several hundred metres across; visible free gold can be seen within quartz veins in some outcrops.
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JOES GULLY – alluvial gold mining was taking place in Joes Gully until 2001; coarse grained free gold was being recovered, including composite gold/vein-quartz nuggets; the upstream source of this gold has not been positively identified, although a possible candidate exists in an outcropping quartz vein stockwork system. Recent drilling at Joes Gully produced some encouraging results, including 1m @ 29g/t Au and 1m @ 5.2g/t Au.
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