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D'Aguilar Block
Gold Project
Bulk
Mineable Gold Hunting Ground
D'Aguilar
Gold Ltd holds in excess of 5,000 km 2 of exploration licences
and 552 ha of granted mining leases with a wholly owned 150,000
tonnes per annum gold treatment plant at its Shamrock site. The D'Aguilar project is located 50km
west of the Gympie Goldfield in south-east Queensland, which
has produced in excess of 4,000,000 ounces of gold to date
demonstrating that the area has potential for world class
gold systems. D'Aguilar expects to discover high tonnage low
to medium grade intrusive related bulk mineable gold resources
and high grade vein deposits in the area.
Click
here
to see map of the D'Aguilar Gold project area.
The
area has been subject to numerous disjointed exploration efforts
in the past, of which none enjoyed the basis of a well-constructed
mineralisation model or recent advancements in the understanding
of intrusive related bulk mineable gold ore bodies.
Kilkivan
was the location of the first discovery of gold in Queensland,
based on coarse easily visible gold and quartz reefs. Gold
complexed with sulphide minerals was encountered in some reefs
and at depth and was not treatable by the early miners. The
combined effects of lack of capital, water influx, two world
wars and small and disjointed tenures hampered the implementation
of large regional exploration programs and the discovery of
significant ore bodies. In spite of this, some 200,000 ounces
of gold has been mined from the area from relatively small
outcropping ore bodies and alluvials. Historic occurrences
of what is now known to be disseminated gold in porphyry intrusions
confounded the early miners and these prospects now form the
basis for D'Aguilar's regional effort.
D'Aguilar
has compiled all of the available historical mining, geochemical
and geophysical data into one comprehensive multlilayer regional
database (see below) which may be accessed and interrogated
at any scale using Mapinfo.
A
bulk mineable intrusive model for gold
D'Aguilar
has developed a refinement of the broad bulk mineable intrusive
related gold model to explain the occurrence of significant
mineralised systems associated with oxidised, structurally
controlled andesitic porphyry and granodiorite intrusions
along the east side of the Esk Trough and west side of the
D'Aguilar Block.
D'Aguilar
believes that the discoveries over the last ten years of bulk
mineable style copper gold deposits by Newcrest Mining at
Cadia - Ridgeway (44 million tonnes @ 2.5g/t gold and 0.82%
copper) and discoveries by North Ltd at North Parkes and Lake
Cowal in New South Wales demonstrate the potential of this
style of target. Cadia Ridgeway, North Parkes and Lake Cowal
occur adjacent to similar geological structures to those occurring
in the northern D'Aguilar Block. Though there are undoubtedly
particular geological differences, D'Aguilar believes the
broad structural similarities and the suite of granodiorite
and porphyry rocks to be the key to the bulk mineable exploration
strategy. D'Aguilar's Elginvale project displays features
of a significant mineralised intrusive system over a broad
area of 2.5 square km, open to the north and south. D'Aguilar
has also identified numerous other targets which it is investigating
in this zone, including Kinbombi, Peenam, Ollenbergs and Gallangowan.
Manumbar
- A Cracow - Vera Nancy lookalike?
The
recent discovery by Newmont and previous owners of the Vera
Nancy vein system in north Qld and the Newcrest Sedimentary
Holdings project at Cracow in central Queensland has contributed
greatly to developments in the understanding of epithermal
gold mineralisation in the D'Aguilar project area. D'Aguilar
has identified compelling similarities between these projects
and its Manumbar epithermal gold project from which 50,000
ounces of gold has already been produced under previous management.
D'Aguilar has a current drilling program which is designed
to extend the limits of the known Manumbar gold system.
Drilling
at Manumbar 2004
Manumbar east-pit historical
workings
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Regional
multilayer exploration database over the D'Aguilar Block
A
Comprehensive Data Base shows the way
D'Aguilar
has compiled all of the available historical mining geochemical
and geophysical data into one comprehensive multlilayer regional
database which may be accessed and interrogated at any scale
using Mapinfo and other software programs. Some eight private
and Queensland Government geochemical surveys including soil
sampling surveys, minus 80# and bulk leach stream sediment
sampling and assaying for precious and base metals, combined
with reconnaissance rock chip and drilling data can be overlaid
with a regional aeromagnetic mosaic comprising eight individual
aeromagnetic surveys. Geological data from government surveys,
company reports and university theses provide a geological
basis for the interpretation of D'Aguilar's geochemical and
geophysical syntheses.
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Shamrock gold treatment plant
D'Aguilar
has the benefit of already owning a 150,000 tonnes per annum
carbon in pulp treatment plant at the Shamrock mine site, 20km south of Kilkivan. The replacement
cost of such a facility is estimated by the Board to be some
$15 million. To refurbish the existing plant and infrastructure
is estimated to be approximately $4 million. Hence, D'Aguilar
has the substantial benefit of some $11 million and an estimated
12-24 months permitting advantage, in the event that, as the
board expects, D'Aguilar discovers gold resources which have
the potential to be economically treated through the Shamrock
Plant.
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Molybdenum
Project - Anduramba (SE Queensland)
D'Aguilar
has been granted an exploration permit over an area of 308
km 2 covering the Anduramba Porphyry Molybdenum Project 100
kilometres north-northwest of Brisbane in south east Queensland.
Anduramba contains a resource of 20 Mt at a grade of 0.07%
molybdenum or 8 Mt at a grade of 0.11% molybdenum. The resource
was defined by CRA in 1969 and upgraded by BHP between 1981
and 1983. The resource has a waste to ore ratio of approximately
1.6:1 and occurs in an aplitic porphyry granite and adamellite
host. D'Aguilar's interest in Anduramba is based on the following
factors:
•
A current world molybdenum price of US $26 per pound (approximately
A$76,000 per tonne) driven largely by the increase in specialty
steel alloy consumption world wide.
•
Additional exploration upside for the tungsten mineral scheelite,
and silver.
•
Numerous exploration targets have been identified at:
• A
broad area of additional molybdenum tungsten
and copper anomalism is evident but not drill tested immediately
east of the main resource.
• 800
metres south of the main resource, rock chip results show
anomalous values for copper - 1%; Silver - 13 ounces per
tonne, with weak zinc, bismuth and gold values over an area
500x300m in altered granodiorite.
• Devonian
aged calc - silicate skarn rocks with high magnetic signatures
marginal to the porphyry on the north west
• An
arcuate geophysical chargeability anomaly 500 metres north
of the porphyry is untested.
• The
contact between the host porphyry and the Devonian aged
sediments to the north has not been adequately tested for
higher grade mineralisation.
• Regional
targets within 10 km of Andurambah.
D'Aguilar
is currently assessing the exploration potential identified
and is evaluating the potential project economics, and market
dynamics for molybdenum and tungsten.
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Solomon
Islands gold project
Solomon Gold plc listed on the Alternative Investments Market of the London Stock Exchange (AIM) on 10 February 2006.
The listing on AIM follows the successful raising by Solomon Gold plc of GBP5,000,000 (A$12.0m) by way of an institutional led offering. Ten million Solomon Gold plc shares were offered at GBP0.50 under the placing.
Solomon Gold plc was a former subsidiary of D’Aguilar. Following a de-merger by way of capital return to shareholders on 8 November 2005, eligible D’Aguilar shareholders became beneficially entitled to an in specie distribution 10,500,001 ordinary shares in Solomon Gold plc on 9 August 2006.
Based on the issue price of Solomon Gold plc shares on AIM, this interest is valued at GBP5.25m or the equivalent of 14.0 cents (A$) per entitled DGR share at current exchange rates.
D'Aguilar also directly beneficially owns 500,000 ordinary shares in Solomon Gold plc.
Solomon Gold plc is exploring for world class copper gold orebodies on Guadalcanal, in Solomon Islands, has commenced an active program and expects to commence drilling its key targets in the near future.
To track the market price of Solomon Gold plc shares, either:
For further details on Solomon Gold plc, including the recent Pathfinder document and corporate presentation, please visit www.solomongold.com
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Daguilar Quarterly Report - (31-Jan-07)