BAILIESTON – MOORMBOOL PROJECT
The Bailieston project is prospective for high-grade gold quartz veins as well as larger scale bulk-mineable disseminated type targets. The tenement includes the historical Byron Mine which produced 4,416oz at a grade of 15.5g/t Au. Mining only ceased due to de-watering issues and the sulphidic nature of the deposit, not lack of ore. This reflects the technology of the time and would not be a relevant issue today. Extensions to the high-grade ore shoot remain untested. Regionally the area has various major fault and anticlinal structures with mineralization similar in age to >1Moz Fosterville deposits, which are currently in production. The project could therefore host similar style and similar sized deposits as Fosterville owned by Kirkland Lake (TSX).
Moormbool is a project associated with the Staffordshire Flat fault and the Moormbool magnetic anomaly, with a similar setting to the Mt Piper which is a porphyry related magmatic gold deposit. The Moormbool magnetic anomaly is approximately 1km wide and circular in plan. No granitic rocks outcrop at the prospect but strong contact metamorphism (hornfelsing) is present.
Cross section of the mine workings at the Byron Mine, Bailieston compiled by research from old newspaper reports.