alluvial-West of Warwick
Ref : RAK
Financial informations :
This area has always been rich in gold, but has NEVER had the source of the gold identified.
BHP held EPM for 2 years in a Joint venture with Newcrest Mining. BHP gold carried out an extensive stream sediment sampling program in the Canal creek area. The program return results from 14ppb Au to 242ppb Au, which coincided with old alluvial workings. BHP later completed a 400m by 400m soil grid over the most prospective area and delineated a 800m long by 50-70m wide northwest trending +5ppb Au anomaly with a high of 385ppb Au. The anomaly is located on the northern side of the Range and is associated with altered and mineralised siltstones and intensely bleached and sheared siltstones and mudstones with narrow cherty horizons. A less coherent +5ppbAu anomaly was delineated on the southern side of the Range near the head of a Creek. BHP considered the most prospective ground in the Creek area to locate a hardrock gold deposit was in an area. The BHP gold division was then sold, and the area not revisited by the new owners.
Further west,A small report by Newmont Gold, from 1989 found a small source of gold from an erosional remanent of Jurassic cover. They believe that the alluvial gold is due to a reworking of detrital gold present within the basal units of the Jurassic cover. COULD be a paleochannel, which are deposits of unconsolidated sediments or semi-consolidated sedimentary rocks deposited in ancient, currently inactive river and stream channel systems. This may have sedimentary gold from millions of years ago.