Stavely Tasmania Pty Ltd (a wholly owned subsidiary of Stavely Minerals Limited) was granted Exploration Licence (EL19/2018) covering a prolific high-grade goldfield in Tasmania, including the New Golden Gate Mine with historical hard-rock production of 254,000oz at an average grade of 26g/t gold.
Numerous Tasmanian Department of Mines and Geological Survey reports detail the mining and mineralisation of the Mathinna Goldfield, which was particularly prolific prior to the first World War. Official records detail production of 289,000 ounces of gold up to 1932. However, official records almost certainly significantly underestimate actual gold production from the Mathinna district given that estimates did not include alluvial production and a 1914 Geological Survey of Tasmania report estimated that production to date had been between 300,000 and 320,000 ounces.
Since that time there has been very little modern exploration.
The Mathinna Goldfield is hosted in a thick sequence of bedded fine- to medium-grained quartz-rich turbidites with shale tops considered as southern analogues to the units within the Melbourne Zone in Victoria that hosts the Walhalla and Woods Point Goldfields. The host units are intruded by I and S-type granites and are folded along a north-northwest trending axis.
Mineralisation is interpreted to be hosted within dextral strike-slip shear zones with right-hand jogs creating dilatant zones that host the structurally controlled quartz vein arrays. Mineralisation is described as being hosted in quartz veins of variable width from a few centimetres to 10m and ranging in strike length from 5m to over 300m.
The majority of gold productive veins are reported to be less than 1m wide and between 30m to 60m in strike length. The maximum vertical strike extent for a single vein is 336m at the New Golden Gate Mine.
Gold mineralisation is reported to be in the form of free gold, is non-refractory and is associated with low abundance of ~1-2% sulphides including arsenopyrite, galena, sphalerite and chalcopyrite.
There is a large volume of historical mine tailings in the valley below the mine workings. These tailings are of unknown volume and grade given a portion was treated with a mobile gold plant approximately 10 years ago.
Stavely Minerals intends to complete initial environmental baseline studies to quantify the extent of historic disturbance and to identify flora and fauna requiring conservation. Subject to these studies, Stavely Minerals intends to undertake a review of the structural controls on mineralisation and then drill the best potentially mineralised orientations with low-impact diamond drilling.