Exploration and Development

The Company’s proposed strategy for the Gum Creek Gold Project comprises three key objectives:

Details of the proposed initial two-year work program are presented below.

Proposed Work Programs

Resource Extension and Infill Drilling

Initial targets for infill and extension drilling in years one and two include:

Regional Exploration Activities

A fully integrated, high quality, belt scale geological, geophysical and geochemical datasets.  These have been used to generate high priority gold targets, which the Company believes justify a significant exploration program.

Integration of geophysical data collected from ground gravity and airborne electromagnetic surveys with existing magnetic surveys, geological mapping and the drill-hole database led to 14 high priority regional targets identified for follow-up exploration, labelled T1 to T14 in Figure 1.

The Wilsons Shear was one of the 14 target zones identified (T6), with a further 14 discrete geophysical targets identified along the shear (T6.1 to T6.14, Figure 1).  In 2016, an IP test survey was conducted over the Wilsons deposit. The IP test survey identified a clear chargeable source coincident with the known Wilsons mineralisation. Following on from the Wilsons IP test survey Panoramic Gold continued IP surveying across the Wilsons Shear. The IP survey program identified two further IP chargeable anomalies similar to that outlined at Wilsons (Figure 2). Neither of these anomalies has been previously tested by drilling and currently only ten percent of the Wilsons Shear has been tested by IP.  Future work includes extending the IP coverage along the Wilsons Shear and drill testing chargeable anomalies.

Proposed regional exploration includes staged programs of ground EM surveys, IP surveys and air-core drilling, to better define geophysical, geochemical and structural targets, to be followed by RC and core drilling of prospects. 

Figure 1 – Grey-scale magnetic (total magnetic intensity) image of the Gum Creek Greenstone Belt, showing priority geophysical exploration targets

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Figure 2 –Wilsons IP pseudo-sections highlighting chargeable zones

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Development Studies

Scoping-level studies for both free-milling and refractory mineralisation were completed over the period between 2012 and 2016.  As a result of these studies, a significant body of data and knowledge has been accumulated on the technical and permitting aspects of the Project.  The Company believes that the work carried out to date serves as a basis upon which to carry out the following key activities to further advance its understanding of the Project.

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