YEOVAL EL 6311

The Yeoval tenement covers an area of approximately 147 km2.  The tenement is centred on the Yeoval township and is located 35km south of Wellington and 80 km north of Orange in central NSW.   The Northparkes copper-gold mine (50 Mt at 1.4% copper and 0.4 g/t gold) is approximately 55km SW of the project area and the world class porphyry deposits at Cadia (554 Mt at 0.14% copper and 0.55 g/t gold) and Ridgeway (231 Mt at 0.4% copper and 0.83 g/t gold) are approximately 95km to the south.

The Yeoval tenement is located in a renowned porphyry copper-gold province.

The Yeoval tenement contains approximately 75 previously worked gold, copper-gold and molybdenum mines. These mines were active during the 1800’s and early 1900’s and used rudimentary mining techniques incapable of exploiting lower grade, high tonnage mineralisation, especially at depth. Porphyry targets such as at Cadia and Northparkes may not have been viable using these rudimentary mining techniques.  Modern mining techniques now allow for world class deposits such as Cadia and Northparkes  to be mined at relatively low cost.

The Yeoval project contains three advanced prospects Yeoval Mine, Goodrich and Cyclops.

The Yeoval Mine prospect hosts one of the earliest discovered porphyry deposits in Australia. Initial drilling of the deposit occurred during the early to mid 1970’s by North Broken Hill Limited and Hastings NL. Their main focus was on the copper mineralisation. They defined areas of significant copper mineralisation and reported intersections including 43m at 0.93% copper and 14m at 0.78% copper and 0.15 g/t gold. Re-sampling of this core by Augur Resources has shown that gold results reported by North Broken Hill / Hastings underestimated the gold content by up to 7 times Click here
for-sampling  Summary
.

No further drilling was undertaken at Yeoval Mine prospect until Augur Resources commenced drilling during 2008 Click here for Yeoval drilling Summary.  Augur Resources intersected significant copper –gold-silver and molybdenum mineralisation at Yeoval Mine prospect including:

  • Hole YA011:    90m at 0.9% copper, 0.14 g/t gold, 0.02% molybdenum and 3.7 g/t silver including 18m at 2.01% copper, 0.4 g/t gold, 0.04% molybdenum and 10 g/t silver;
  • Hole YA008:    50m at 0.54% copper, 0.48 g/t gold, 0.03% molybdenum and 4.3 g/t silver including 14m at 1.32% copper, 1.27 g/t gold, 0.07% molybdenum and 13.6 g/t silver;
  • Hole YA009:    28m at 0.83% copper, 0.21 g/t gold, 0.02% molybdenum and 3.5 g/t silver including 8m at 1.10% copper, 0.28 g/t gold, 0.04% molybdenum and 9.0 g/t silver;

At Goodrich, Augur Resources is focussed on identifying copper-gold mineralisation below the previously worked Goodrich mine.  Goodrich was a particularly rich mine. In 1958, sulphide ore from the mine was reported at 5.2% copper and 19 g/t gold. Drilling by a previous explorer has identified disseminated copper-gold in the vicinity of the mine, including 50m at 0.4% copper and 0.28 g/t gold from 158m.

South of Goodrich a large soil copper anomaly with an associated magnetic anomaly has been identified. While the area has very little outcrop, three rock chips have been collected which were highly anomalous in copper and gold. This prospect lies along strike of a well defined mineralised trend.

Cyclops is located approximately 2400m north of the Yeoval Mine prospect.  Limited drilling has occurred at the site, however the western most hole drilled to-date has returned 15m at 1.01% copper.