Background
Ausgold Limited was formed to utilise some of the latest innovations in geoscience to target areas in Australia prospective for the discovery of gold and copper-gold ore bodies. This work was carried out by the Centre for Exploration Targeting, an internationally renowned group affiliated with the University of Western Australia and Curtin University, using a team of highly qualified geoscientists with extensive experience in gold mineralising systems and exploration targeting.
The result was the acquisition by Ausgold of tenements covering 17,500 square kilometres of ground prospective for gold and copper mineralisation.
These tenements cover a range of mineralising systems in known and emerging mineral provinces throughout Australia where potential exists for new gold and copper discoveries. This includes ground comprising the Doolgunna Station Project which lies adjacent to the highly acclaimed Degrussa discovery in Western Australia and is believed to be highly prospective for the discovery of similar copper-gold deposits.
The successful targeting of this ground provides confidence in the prospectivity of other targets identified in emerging and known mineral provinces throughout Australia. These include the Koonenberry Belt, an emerging mineral province in New South Wales, the Boddington South Project in Western Australia, the Pinjin Goldfield, the Paterson Project neighbouring the Nifty Copper Project in Western Australia, and tenements near Cracow in Queensland targeting porphyry and epithermal gold discoveries.