- The Tycho prospect is a recent discovery where there is no previous history of any mining.
- At the Tycho prospect, drilling has identified shallow dipping biotite-chlorite-talc shear hosted mineralisation along 4 or 5 separate zone;
- Interpretation of aeromagnetic data suggest the presence of several similar shears which warrant further investigation.
- In August 2012 the Company released a JORC mineral resource statement - Indicated mineral resource estimate of 600,000 tonnes at 1.4 g/t giving 27,900 oz gold, and Inferred mineral resource estimate of 640,000 at 1.2 g/t for 25,200 oz gold, for a total estimate of 1,240,000 tonnes at 1.3 g/t for 53,000 oz gold. For full details see company announcements.
- The Mineral Resource is centred on 4 individual zones of mineralisation within 50m of the surface. The deposit lies under shallow cover (2-5m of alluvium-colluvium). The deposit remains open at depth and along strike. Very little drilling exists down dip, and limited drilling to the north has identified a fifth zone.