Mindax holds a 100% interest in a highly prospective gold project,
the Meekathara North Project (tenement E51/1705), located in the Meekatharra
region of Western Australia which is well known for significant gold
discoveries. The project is located 40km north of the township of Meekatharra,
at the northern end of the Meekatharra Greenstone Belt, in the Murchison
Province, Western Australia.
Meekatharra is a long-established and well-known gold mining
centre in the Murchison Goldfields. Numerous gold mines have operated in the
local area, including Bluebird, Ingliston and the Paddy’s Flat mine. These
historic operations produced more than 2.5 million ounces of gold.
Meekatharra North is located 2km from Andy Well along
similar geological features. Discovered by Doray Minerals in 2010, Andy Well
produced some 300,000 ounces between 2013 and 2017 and hosts a remaining
underground resource of over 500,000oz of gold within 8.8 gram per tonne.
The Andy Well Gold Project was transitioned to care and
maintenance during November 2017 and is currently for sale.
Meekatharra North Project covers the confluence of numerous local and regional
structures that are important to the localisation of gold in the Meekatharra
Previous exploration completed over the Meekatharra North
Project has included geophysical surveys, geological and geophysical
interpretations, surface geochemistry, petrology, air core (AC) and reverse
circulation (RC) drilling. These exploration programs have demonstrated the
potential for Andy Well-style mineralised structures extending southwards onto
the Meekatharra North Project tenure.
Better results from drilling completed on the Meekatharra
North Project to date include:
- 3 metres
at 9.75g/t Au from 135m depth in MNC001
- 5 metres
at 5.05g/t Au from 92m depth in MNA176
- 2 metres
at 1.33g/t Au from 100m depth in MNA175
- 1 metre
at 3.82g/t Au from 221m depth in MNC012
- 1 metre
at 2.46g/t Au from 156m depth in MNC014
The drilling completed to date has successfully defined
several narrow, high-grade, shear-hosted, gold mineralised zones at the Harp
and Lute Prospects within the northern part of the tenement. The interpreted
lithostratigraphic and structural setting of the mineralised zones appear
analogous to those that host the significant gold resources at the Andy Well
Gold Project immediately to the north.
Given the narrow, steeply dipping, and depletion of gold in
the weathering profile, additional close spaced drilling is required to fully
test the gold mineralised structures intersected at the Harp and Lute
reviews and targeting exercises have been completed by consultants and Mindax geologists
over the project area. These reviews have outlined several other high priority
gold target areas, in addition to the Harp and Lute Prospects, that warrant