Moyagee Project- WA (Silver Lake 100%)
Background
Silver Lake’s Moyagee project has been the subject of several phases of exploration since the early 1980s. Past gold production from the project area totalled 11,780 oz from some 9,400 tonnes of ore mainly from small high grade quartz veins.
Location
Figure 1Moyagee location planClick image to enlarge
The Moyagee project is located within the Archaean Mount Magnet-Meekatharra greenstone belt in the Murchison Province of the Yilgarn Block of Western Australia. It lies between the towns of Mount Magnet and Cue, 600 km northeast of Perth. The project consists of six granted tenements covering 60 km2 with another 250 km2 under application. The Lena prospect and all historical workings lie within granted tenements.
Geology
The project covers mafic to ultramafic intrusive and volcanic rocks of the north-northeast trending Gabanintha and Golconda Formations, which are truncated in the south by the regional Cuddingwarra Shear. The northeast trending Lena Shear, which is a splay off the Cuddingwarra Shear, is the principal host to the known gold mineralisation within the project area. The trace of the Lena Shear under lacustrine sediments of Lake Austin through Silver Lake’s project area has recently been defined by scout exploration drilling and aeromagnetic imaging.
The ultramafic dominated Lower Gabanintha Formation has generally been considered an unfavourable host for gold mineralisation in this part of the Murchison Province. Tholeiitic basalts and dolerites of the overlying Upper Gabanintha Formation are host to over 50% of the known gold mineralisation within the Murchison Province including the 2Moz Great Fingall mining centre near Cue, 30 km north of Moyagee. The Lena Shear transgresses this greenstone stratigraphy at a low angle with good potential to cut the prospective Upper Gabanintha Formation in the northern portion of Silver Lake’s project area.
Resources
| Measured Resources | Indicated Resources | Inferred Resouces | Total Resources | |||||||||
| Deposit | Ore t '000s | Grade g/t Au | Total Oz Au '000s | Ore t '000s | Grade g/t Au | Total Oz Au '000s | Ore t '000s | Grade g/t Au | Total Oz Au '000s | Ore t '000s | Grade g/t Au | Total Oz Au '000s |
| Moyagee | - | - | - | - | - | - | 820.2 | 8.5 | 224.2 | 820.2 | 8.5 | 224.2 |
The gold mineralisation is associated with gold-bearing quartz veins contained within the near-vertical Lena Shear (refer to Figure 2). The resource is located in an area of shallow cover to the south of Lake Austin.
The integration of previous RAB and aircore drilling results with recent detailed aeromagnetic imagery has outlined a linear trend of anomalous gold mineralisation that can be traced north-northeast from the sub-cropping Lena resource area. Significantly, this linear trend corresponds to a marked linear aeromagnetic feature interpreted as the Lena Shear.
| Hole ID | From (m) | To (m) | Downhole Interval (m) | Gold (g/t) |
|---|---|---|---|---|
| MGRC 162 | 102 | 107 | 5 | 57.3 |
| MGDD 3 | 354.8 | 361 | 6.2 | 31.4 |
| MGDD 21 | 220 | 222 | 2 | 81.3 |
| MGDD 2 | 371.3 | 378.4 | 7.1 | 16.2 |
| MGDD 9 | 364.9 | 367.9 | 3 | 31.2 |
| MGRC 190 | 33 | 34 | 1 | 86.7 |
| MORC 019 | 27 | 29 | 2 | 41.5 |
| MORC 009 | 54 | 56 | 2 | 38.2 |
| MGDD 12 | 367.9 | 372.2 | 4.3 | 14.4 |
| MGRC 178 | 123 | 130 | 7 | 8.4 |
| MGRC 207 | 67 | 74 | 7 | 8.1 |
| MGRC 005 | 16 | 20 | 4 | 14 |
| MGRC 010 | 37 | 41 | 4 | 13.9 |
| MGDD 4 | 223.8 | 224.8 | 1 | 51.2 |
Figure 2Geological cross-section through the Lena prospectClick image to enlarge
Exploration Programme
The Lena prospect, at Moyagee, is the primary target for exploration in the coming year. In the second quarter of 2009 a deep diamond drilling programme will commence to test the dip and strike continuity of this resource which remains open at depth and to the north and south. The programme is designed to extend the Lena resource to the north and south by drilling four holes along three separate 60 metres spaced sections. It is also proposed to complete a 650 metres deep diamond drill hole on each of the five existing drill traverses that currently define the Lena resource to test the down dip extent of the deposit.
Systematic drill testing of the northern portion of Silver Lake’s project area where the Lena Shear transgresses prospective basalts and dolerites of the Upper Gabanintha Formation will also be carried out.
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