MATHINNA & LEFROY PROJECTS

Stavely Tasmania Pty Ltd (a wholly owned subsidiary of Stavely Minerals Limited) has been granted three exploration licences (EL19/2018, EL4/2019 & EL6/2019) covering the prolific high-grade Mathinna goldfield in north east Tasmania, including the New Golden Gate Mine with historical hard rock production of 254,000oz at an average grade of 26g/t gold. Stavely Tasmania has also recently acquired a key exploration licence (EL2/2015) covering the structural extension of the high-grade Mathinna Gold Project in Tasmania and the majority of the historical Lefroy goldfield (EL3/2015, RL1/2015) where past gold production is reported to be 180,000 oz at 28g/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.

At the New Golden Gate Mine no effective regional exploration has been undertaken along strike of the main controlling structural trends and no exploration has been undertaken targeting structural repeats of the known mineralised trends.


A review of historical data identified a number of shallow, wide and high-grade drill intersections. Drill intersections with greater than 50 gram*metres include:

 

  • 11m @ 8.6 g/t gold from 59m down-hole in MT028, including:

    • 6m @ 11.5g/t gold from 64m;

  • 10m @ 8.8 g/t gold from 45m down-hole in MT055, including:

    • 3m @ 23.0 g/t gold from 46m;

  • 16m @ 4.8 g/t gold from 32m down-hole in PDH5, including:

    • 8m @ 8.5 g/t gold from 40m;

  • 7m @ 10.6 g/t gold from 110m down-hole in MT050; 

  • 17m @ 3.7 g/t gold from 14m down-hole in MT052;

  • 4m @ 15.4 g/t gold from 51m down-hole in MT039;

  • 4m @ 14.7 g/t gold from 92m down-hole in MT046;

  • 4m @ 13.9 g/t gold from 33m down-hole in MT029, and

  • 4m @ 13.2 g/t gold from 220m down-hole in MT075

 

See the figures below for drill intercepts at the New Golden Gate and the unmined Sophie’s and Dylan’s Reefs respectively. A typical cross-section through the mineralised lodes is shown below. 

REGIONAL GEOLOGY

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.

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