Turn key operation & High grade long term ML's; 60sq klms Exclusive Exploration

Palmer Goldfields Operational Project

Mine Details

Commodity: Gold
Location: Australia
Terms: For Sale
Price: AU$3.300,000.00 (GST incl)

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Summary:

13 granted Alluvial Mining Leases & 3 surrounding Exploration Permit areas, Plant & Equipment combined with excellent established Infrastructure roads/tracks/dams camp & communication.These granted alluvial mining leases & Exploration areas have a historic record of potential hard-rock. With a successful alluvial Mining operation currently in production and the security of long term (2031-36), high grade tenure, this project represents a rare opportunity to secure a large group of granted leases comprising 502ha; plus exclusive rights to 60 square klms of exploration area; in Far North Queensland.

Estimated resource 1,650,000 million LCU (Loose Cubic Metre) within granted mining lease areas; average grade 1 oz per 80/100LCM).
Exploration area covers considerable resource yet to be pegged.

Offering security of high grade, long term tenure & holding exclusive rights to the remaining resource within surrounding 60 square klms of EPM areas provide an opportunity to launch a campaign to discover further potential resources; & substantially increase production; cementing security of longevity for mining project.

Palmer gold known as some of the purest natural gold in the world assaying 97-98% pure gold.
The sellers may consider tailoring the offering to buyers requirements.

Full range Plant & Equipment, exceptional camp, well established infrastructure, water storage/dams,to roads & communications.
Easy contour ground offers ample sites for further infrastructure & water storage within the boundaries of each mining lease.
Owners relocated to this group leases 2016 & are presently working other ground within the area.
Gary Donovan (owner) has mined and prospected the area over a 28-year period, culminating in securing rich alluvial ground under long term tenures. Mr Donovan has an intimate knowledge of the subject area and its history. He was Operations Manager for Madden Resources NL (AUR/ADR) 1988/89 and also worked for CRA as Operations Manager at Mt Kare in the highlands of Papua New Guinea. Using this experience, the Donovan family has mined in the area for 27 years and accumulated significant leases and exploration areas for future production.

Location and Access:

LOCATION & ACCESS; The project is located 240klms from Cairns, 4-5 hour, & 90km North of Chillagoe and 100km west of the Mareeba-Cooktown section of the Peninsula Development Road. Mareeba and Atherton are the nearest industrial and retail service centres. The project is located just four hours from Cairns City by road, which is the commercial and industrial hub for the region. The Cairns International airport connects to 31 national and international destinations.

Access is by the Hurricane/Karma Waters Road off the Peninsula Development Road from Mareeba to Cooktown; to the Hurricane road leading to Groganville; and then by registered mine- access roads. The road is graded annually by Mareeba Council each year. Access may be restricted during wet season (December to March).

Description:

Current operation presently works mobile plant processing 350m3 per day. Fixed plant 500/600 m3 per day (under construction) all components available.
Excavator PC300-6 Komatsu, D85E Bulldozer, Loader Cat 950, Body Truck 10m Ford Louisville 3 x Pumps-water pumps, Generators x 3 (2x2cyclinder & 1x3cyclinder),Fuel storage tanks x 3, Water pipeline, poly-pipe pipe line, Aluminium pipes 5” & 4” large number, numerous parts, filters, tools, 4WD Site vehicle, steel, many components for future plant construction-Above are site machines/vehicles, none are registered.

FULL RANGE OF PLANT & EQUIPMENT AVAILABLE on request.
Working storage dams established, good roads, many tracks exist from previous mining, easy contour ground provides ample for further development within each ML area.
Excellent bore fitted with stainless steel submersible pump, pipeline buried to header tank to gravity fed bac to camp, full communications; telstra phone, NBN satelitte internet. Exceptional camp comprising 5 x dongas, (sizes 1- 12x3, 1- 8x3m, 3 x 6x3m) including 2 ensuite shower/toilet/single rooms, stainless steel kitchen with all mod cons, 15 x 6m covered mess area. Workshop, shipping container lined with shelves.

Geology:

GEOLOGY The following sections are a quote from CR20418( A to P 4048) Hamilton. G, 1988 Solomon Pacific ResourcesNL (reference)

REGIONAL GEOLOGY The area is underlain by Middle Devonian to Lower Carboniferous rocks of the Hodgkinson Formation. This formation is a thick accumulation of micaceous greywacke, siltstone and slate with intercalcations of basic volcanics, cherts and conglomerates. These lithologies have been metamorphosed to greenschite facies and are steeply folded and strongly cleaved. They consist of micaceous schist, phyllite, slates, greywacke and siltstone.

LOCAL GEOLOGY The principal lithologies making up the Hodgkinson Formation in this area are the strongly cleaved phyllites and sandstones which, being the least resistant units, are exposed only within the creeks. Areas between the creeks, along the ridges and spurs are generally covered in quartz and chert float derived from pyritic quartzites (recrystallized chert),cherts and the quartz veins and quartz fault infilling which form the more resistant interfluves.

History:

Located within the Historic Palmer River Goldfield North Queensland, Kennedy’s/McGann’s/Jabiru Creek. Renown as one of the richest alluvial goldfields in Queensland.
In the historic account of mining in the Palmer River goldfields including the watersheds of McGann’s and Kennedy’s the following excerpt makes interesting reading "in 1874 an estimated 10000 men; many of whom were Chinese busily working the rich alluvial gravel the Palmer River recorded production of between 1-2 million ounces of gold from 1878 through to the early 1880's. In the historic account of mining in the Palmer River goldfields including water sheds of McGann's " (ref: de Havelland D published 31.12.1986)

Exploration History- Open Company Reports (CR) are available through Queensland Mines Department (QDEX) website. Historically, exploration and drilling for hard-rock has been carried out within the subject area by several companies; BHP, Strike Exploration, Carpentaria Gold, Shell, Solomon Pacific to name a few.
The owners held a JV with BHP for over 9 years under EPM:9795 under which extensive exploration was conducted(McGann's/Kennedy/Jabiru Creek areas). The following annual CR's filed from 1988-2001 are particularly interesting:
BHP MINERALS December 1997 CR29822; STRIKE EXPLORATION/BHP December 1998 CR30689; STRIKE EXPLORATION December 1999 CR31461;
DIAMTREME RESOURCES December 2000 CR33024; SOLOMON PACIFIC RESOURCES December 1988 CR18389; CARPENTARIA EXPLORATION 1986/1987 CR16544;
It is important to note that the price of gold 1997/2000 was considerably lower (AUD350 per ounce) compared to the current price.

Copies of the above Company Reports are available on request.

Additional Information:

On completing a review on the manner in which mining was conducted by AUR/ADR, Creek beds previously mined by that company have re-tested by G Donovan & G Robinson. Results proved up significant gold reserves remaining in creek beds & some higher terraces, some of which has been secured under granted Mining Leases.
The project currently works this ground, consistently producing 1 ounce of gold to 80/100 per m3. Kennedy Creek/McGanns bullion represents 97-98% pure gold.

Photos:

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