Revolution Metals, a minerals and resources company focusing on developing mineral assets in Australia, announces that it has been granted an additional gold exploration license by the NSW Department of Trade and Investment following application for a 12 square kilometre area directly south of the existing EL8118 in Northern NSW.
Previous exploration and shallow drilling has identified additional gold bearing quartz stockwork with exceptional grades up to 20 g/t.
The area was mined by artisanal methods in the early 1900's. Drilling by JV Partners (Getty Minerals and BP Minerals) of the Little River Gold Company in the 1980's, and extensive geochemical studies, indicate further mineralization which has not been exploited.
This extends the footprint held by Revolution Metals and adds to the inferred resource of 232,000 tonnes of mineralised gold bearing lode containing an average grade of 3.27 g/t. at the "Pine Creek Lode". The drilling will further establish the depth at which this deposit extends, and evaluation of other significant deposits within the Exploration Lease.
Historical artisanal mining recovered significant gold from alluvial deposits and quartz vein reefs, of which there are over 80 in the general area, identified from historical records. No modern exploration techniques have been applied to the area which shows all the hallmark indicators of a deep Intrusive Related Gold System (IRGS) in the Lachlan Fold Belt.
Recent evaluation of similar deposits in the Lachlan Fold Belt of NSW have proven to be previously unrecognised large IRGS systems.
The exploration activities will focus on defining an underground source of gold that has been the suspected source for over 80 gold reefs in the area that were hand mined in the late 1800s. In addition to the gold reefs, a significant discovery of a gold bearing ironstone strati-form (vertical outcrop) has been identified and preliminary diamond and RC drilling carried out establishing gold mineralisation occurring from surface to an unknown depth.
About Revolution Metals:
Revolution Metals is an Australian based developer of mineral resources. The focus of the company is to develop mineral assets of economic grade to production, providing investors with rapid return on investment.