Our Beechworth Project is located in the North East region of Victoria, approximately fifty kilometres south of Albury-Wodonga, and to the north of our Harrietville Project. The Beechworth Project lies on the border of the Tabberabbera and Omeo Zones of the Lachlan Fold Belt.
We currently hold one active Exploration Licence here, EL4697, which we acquired from Northern Mine Ventures in 2020. We also have a Retention Licence application in this area, RL006013, which was also acquired by Northern Mine Ventures at the same time and is currently being considered by Earth Resources Regulations. This retention licence will extend the period of time we are able to conduct exploration activities in the area.
Geologically the entire Beechworth Gold Project lies within the Tabberabbera Zone on the eastern margin with the Omeo Zones of the Lachlan Fold Belt in Victoria. The host rocks are Lower Ordovician marine sediments of the Pinnak Sandstone Formation comprising sandstone, siltstone, and shale. The Hillsborough goldfield occurs in the hanging wall of the major regional Sawpit Gully Fault Zone which separates the Tabberabbera Zone from the Omeo Zone. Mineralisation is typical of orogenic gold deposits. The gold deposits are characteristically associated with deformed (compressed, folded and faulted) and metamorphosed (chemically or thermally altered) mid-crustal blocks, particularly in proximity to major crustal structures (such as major faults or basement shear zones). Mineralised fault zones generally strike north to north-westerly with occasional breccia pipes developed at the intersection of anastomosing fault zones.
Historical hard-rock gold production has focused on gold shoots above 1 oz/t. As our drill program is designed to drill beneath former gold mines, we anticipate that drilling will confirm high-grade mineralization at depth. Recently, another operator bordering our projects announced that their high-grade results were confirming the thesis that high-grade gold mineralization exists beneath historic gold mines.