The Cracow Project covers over 500 square kilometres enclosing highly prospective Camboon Volcanics, host to the greater than 1 million ounce Cracow gold mine 16km south of Ausgold’s area of interest. The project is located 375 kilometres northwest of Brisbane and is well serviced by major roads and the Theodore township.  The ground is considered highly prospective for repetitions of the neighbouring Cracow epithermal gold ore body, along with poly-metal (gold, copper, silver, lead, and zinc) intrusion related porphyry systems (e.g. Kidston deposit).

Ausgold completed a helicopter-supported stream sediment sampling and reconnaissance soil and rock chip sampling was also completed.  940 stream sediment samples have been collected over the project to date, along with 98 soil samples and 73 rock samples.

Reconnaissance geological mapping investigating five anomalous gold and multi-element catchment targets located significant areas showing surface quartz/sericite/sulfide alteration, sulfide stockworks, quartz breccias and silica veining, all considered characteristic of epithermal systems capable of hosting substantial gold deposits.

The mapping and initial geochemical results indicate that Ausgold’s tenement have identical geological setting and chemical/alteration characteristics to that of other major epithermal gold systems including the Cracow gold field immediately south.

Proposed further work includes:

  • Finalisation of interpretation of the geochemical and geological data
  • Petrological study to determine position within the ‘intrusive’ systems already identified
  • Ground and airborne magnetic and conductivity geophysical surveys
  • Detailed soil sampling within the anomalous catchments
  • Structural analysis
  • Targeted RC drilling

Cracow Project tenement holding underlain by magnetic imagery with new targets highlighted

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