Join our daily newsletter At The Bell to receive exclusive market insights
- Golden Deeps (GED) has identified several priority gold and base metal targets at the Havilah and Tuckers Hill Gold projects
- Both projects are located in the Lachlan Fold Belt which is a highly prospective area that contains several major gold, copper-gold, and silver deposits
- Fieldwork can only begin once COVID-19 travel restrictions have been lifted
- The aim of drilling is to follow-up on previous discoveries
- Golden Deeps is down 11.1 per cent and shares are currently trading for 0.8 cents each
Golden Deeps (GED) has identified several priority gold and base metal targets at the Havilah and Tuckers Hill Gold projects.
Golden Deeps received both projects in mid-May when it acquired 100 per cent of the previous owner, Extract Minerals.
These projects are located in the Lachlan Fold Belt in New South Wales. This belt is a highly prospective and productive area that contains several major gold, copper-gold, and silver deposits.
Tuckers Hill Gold Project
The Tuckers Hill project is located 20 kilometres southwest of Mudgee and 265 kilometres from Sydney.
Previous work at the project has identified gold-bearing veins in a sequence of siltstone and minor sandstone.
Historical work in 1963 returned results grading between 1.27g/t and 705g/t gold with an average grade of 68.45g/t gold.
Once check sampling and detailed mapping have confirmed the targets, Golden Deeps is planning to test for possible repetitions of the gold-bearing veins.
Havilah Project
The Havilah Project is made up of three granted tenement blocks that cover a total area of 102 square kilometres.
Previous works at this project have primarily consisted of sediment and soil sampling, IP (induced polarisation) surveys, geological mapping, and percussion drilling.
This work helped identify the four main areas of the Cheshire Copper Mine, the Milford prospect, the TH Creek prospect, and the Cudgegong prospect.
Copper mineralisation at both the Cheshire Copper Mine and the Milford prospect is spatial and dispersed with previous soil sampling confirming an anomalous trend between these areas.
A 20-hole drilling program was completed at Cheshire in 1973 and returned best results of three metres at 1.45 per cent zinc and 0.1 per cent copper from 12.2 metres, and 4.5 metres at 0.29 per cent zinc and 0.12 percent copper from 6.1 metres.
Since then, no effective exploration or additional drilling has been completed and Golden Deeps hopes to undertake some.
Fieldwork can only begin at both projects once COVID-19 travel restrictions have been lifted.
Golden Deeps is down 11.1 per cent and shares are trading for 0.8 cents each at 2:16 pm AEST.
