Summary
The Cheapside North Mine site at Coolgardie consists of the following
1 X Mining License, granted Sept 1988 Completely native Title Free
5 X Prospecting Leases,
2 granted December 2021,
1 granted March 2022, Gravel Lease,
1 Granted June 2019,
1 Granted Aug 2016, Ready for conversation to 2 X General purpose licenses.
1 Miscellaneous License, Haul Road, Granted April 2022
The total area is 125.25 Ha or 309.5 Acres,
No Longer Available
Location and Access
Coolgardie Kalgoorlie, Western Australia.
Access via Great Eastern Highway or Victoria Rocks Road.
Description
1.) L 15/350, 4.85Ha is within the Miscellaneous License applied for and allocated as a haul road.
2.) P 15/5925, 17.61Ha is set aside for conversation into two General Purposes Licenses.
3.) P15/5919, 17 Ha of gravel. To build the haul road, 8klms from highway, 4 klms already constructed.
4.) P15/6189, P15/6623 & P15/6628 Licenses all have gold bearing Ore bodies upon them which are visible for inspection & samples can be taken with consent.
5.) M15/434 is a very old mining lease and contains gold @ 190/200 gpt, & 50 to 80,000 tonnes of Palagonite all within a 2Ha area. 3 known lodes are upon this lease two remain unexplored. Assays are available.
Assays on hand range from 2.5 gpt right up to 190/200 gpt. One untouched ore body reflects @10 gpt at the surface. Specks of color appear at different locations yet soil sampling shows no return. All Prospecting Leases have passed native title with a claim to Artifacts only. The main Lease and Mine, M15/434 is completely NATIVE TITLE FREE and this can not be changed or challenged. Due to the age of the Mining Lease one can do anything they like on this lease without the need for any external consents.
The mining lease consists of the following: one known Ore body 58.5 meters long (The drive) an 11-meter Ore body dips East at 60’ and contains approximately 4000 tonnes of Ore ranging as mentioned above, the southern stope is mined out yet only 130 tonnes was extracted, it is believed the remained 2000 tonnes of broken ore is still in the drive. The Northern stope is untouched. The depth of the Shaft is 17.25 meters at its lowest level. The dip is a 5/4 stope.
A head-frame is still in place, and the top 5 meters of Ore body is available for inspection and sampling. A small shaft on the neighboring lease, 5 meters deep is also available for inspection and sampling. The third location of Ore is located on the next lease and is untouched currently also available for inspection, this ore body reflects 10gpt in the quartz and 7 gpt in the basalt/gabbro, at the surface.
Only a small area of the mine has been pushed, less than 1/100th Ha. Of the remaining 30Ha only .75Ha has been opened up to expose the palagonite. The rest, at the time of writing remain untouched except for drill pads.
Geology
Three lodes are know to exist containing Gabbro, Basalt, Ultramafic rock and Quartz. The very high grades of 190 - 200gpt of Au are contained in the quartz. All lodes make contact at different locations with greenbelt & porphyry.
History
The main mining lease was granted in 1988, it can be renewed in 21 year increments. the current period expires in October, 2031.The original owner has stopped out the Southern stope but most of the broken ground remains in the drive due to the collar collapsing. The mine has a death date of midnight year 3000.A Mill was established onsite but was sold off some years ago after the sudden and unexpected death of the previous owner aged 48 years. Alluvial is present and most of the ground remains un-pushed. Less than 50 meters square has been pushed.
Additional Information
Discovered upon the Mining lease is a substance that has been identified as Palagonite, (Please google it for a better understanding.) drilling and open the area described above as now open, show there is approximately 50,000 to 80,000 tonnes. Palagonite retails at its cheapest price of $2000.00 per tonne when bagged in 20 kg bags. 1 kg bags sell for as much as $15.00 per bag. Even without the gold the Palagonite alone is a multi-million-dollar business for the business minded person.
An area of 0.75Ha has been cleared off as the Palagonite footprint, including a lay-down area and ROM, the bund walls are in place. The area is all butt ready to begin extraction.
Included in the sale is the following options.
1 X 18.5 tonne JCB wheel loader, 3.5cm bucket, 4 new Bridgestone tyres fully serviced in excellent running condition, naturally a few scratches appear on the outside of the machine. It has an 8-tonne lifting capacity and a 5-meter reach. The wheel loader is valued at $90,000.00
An old 30-foot caravan is onsite and mounted on blocks. It has hot and cold running water and all power outlets are in working order including a full en suite, bath, toilet, sinks x 2, basic kitchenette. All runs off a Generator a new 3KVA Yamaha, a 1000 lph water pump, New with all fittings.
3- bed person Registered Winnebago motor-home in excellent condition with full amenities is included in the sale. A 3.7kva gen set & solar panels power the motor-home. Microwave, TV, Fridge, Gas cooker, Shower was basin etc. Semi-Automatic transmission. Will pass any inspection. Value $70,000.
Solar powered cameras are in place.
All except for the main entrance tracks are bunded off and warning signs in place.
All leases (except for the gravel lease) have current P.O.W.’s in place allowing for the maximum disturbance, scrape detect and drilling. The Mining lease has a tonnage limit of 30,000 tonnes per annum unless one applies for a small-scale mining permit. Anniversary date is 09 October each year.
All leases have a combined reporting status applied, making any accusation of minimal expenditure not being met almost impossible to prove.
