Palmer Goldfields Tenement Group & Exploration
GRANTED - 5 x ALLUVIAL GOLD MINING LEASES & EXCLUSIVE 12 Sq klms EXPLORATION PERMIT
Summary
Offered for sale five Queensland Government Alluvial Mining Leases (163ha) plus exclusive rights to 12 square klms of surrounding Exploration Permit area, historic Palmer Goldfields.
Historic Exploration Reports show hard-rock potential within Mining Leases and surrounding Exploration Permit area. With security of long term leases(2031-36), high grade ground, this project represents a rare opportunity to secure a significant group of granted leases; in Far North Queensland.
ESTIMATED RESOURCE
An estimated resource 572,580 thousand LCM(Loose cubic metre) secured within163ha granted mining leases; average grade 0.3 gram per m³, or 1oz per LCM per80/100. Donovan’s have not mined this ground.
McGanns Creek Bullion represents 97-98% assay of fine gold.
Further resource held within the Exploration areas this project offers stability to launch an Operational Project, combined with security of high grade, long term tenure this project has potential to increased production to +1500m2 per day.
Several pre-existing tracks & easy contour ground offer ample sites for essential infrastructure & water storage allocated/plotted within the boundaries of each of the mining leases.
Sellers may consider tailoring the offering to suit buyers’ requirements.
ESTIMATED RESOURCE 572,580 thousand LCM(Loose cubic metre) secured within163ha granted mining leases; average grade 0.3 gram per m³, or 1oz per LCM per80/100. Donovan’s have not mined this ground.
McGanns Creek Bullion represents 97-98% assay of fine gold.
Madden ResourcesNL/ADR/AUR mined alluvials within the subject area in the 1980’s. Following a review of the mining method conducted by those companies; results proved up significant gold reserves remaining in creek beds and on some higher terraces. Some of this resource has been secured under Mining Leases. Production in the subject area currently works ground, consistently producing 1 ounce of gold to 80/100 per m³.
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