Gold, Copper and Rare-Earth Elements

permit

Coen Project Permits

EPM 27633 LUKIN RIVER

EPM 27633 lies 70 km SSW of Coen. Alluvial gold and heavy minerals exist. Exploration will focus on the Curwon Copper Prospect where a porphyritic rhyolite intrudes a package of metasediments. Widespread copper mineralisation has been detected in historic scout drilling over a 2 x 1.5 km area. Drill results of interest include a long intersection of 105m @ 0.21% Cu and 0.08 g/t Au occurring from51m downhole depth. This zone includes a clear hypogene interval of 12m @ 0.15g/t Au and 0.31% Cu from 96m depth in a silicified and brecciated porphyry intrusive which remains untested at depth. Other drill intersections of 58m @0.2 % Cu, 44m @ 0.23% Cu, 34m @ 0.3% Cu, and 33m @ 0.24% Cu confirm the widespread nature of the copper mineralisation.

Other planned investigations include an isolated copper rock chip occurrence assaying5.2% Cu, approximately 6 km east of the Curwon Prospect, along a prominent parallel regional structure. A significant quartz vein structure is visible in satellite imagery cutting the headwaters of two adjacent streams with anomalous tungsten regional stream geochemistry.

Click here for an image gallery for the Curwon Cu Prospect.

EPM 27632 GOOSE CREEK

EPM 27632 lies 25 km SW of Coen. Quartz reef-quartz vein structures are seen in over 2km of strike length at Thornbury prospect and include results of 114 g/t Au in outcrop and 4m @ 35.8 g/t Au in channel sampling.

A bulk sample of 23 tonnes collected at Thornbury in the late 1980s averaged 14.3g/t Au and led to a pre-JORC indicated resource estimate of 72,800 t @ 2.75 g/t Au in northern sections of the Thornbury prospect to a nominal 30m depth. The reef, hosted in schists and gneiss remains open at depth.

A nearby historic alluvial resource has been estimated at Thornbury Creek ranging from 120,000m³ to 200,000m³ at an average recovered grade of 0.7g/m³ Au with a monazite content estimated at 4-5 kg/m³. Other areas of interest include over 20km² exposure of a Devonian allanite-bearing monzogranite, patches of aluminous laterite duricrust in the west which include bauxite and the petrographic confirmation of >5% graphite in a drillhole testing a prominent regional aeromagnetic anomaly.

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