Westgold secures NT grant of tenement

01 January 2008 | 05:03 Code : 16420 Geoscience events
Westgold Resources is set to resume exploration next year at one of Australia’s....

  Westgold Resources is set to resume exploration next year at one of Australia’s most significant high-grade copper-gold discoveries, the Rover 1 Prospect 75km southwest of Tennant Creek, after successfully negotiating grant of the key Rover 1 tenement.The grant of the Rover 1 tenement and surrounding Exploration Licences represents the most significant milestone for Westgold since acquiring the highly prospective Rover Field Project 12 months ago. It also signals the re-commencement of exploration at Rover 1 after a hiatus of more than two decades.Westgold’s CEO, Tony Martin said Rover 1 was the first and most significant discovery in the Rover Field and, at the time of its discovery, was considered as an exciting new development for the town and the region.“A lack of exploration access meant that the discovery was not followed up for a period of 25 years, despite its obvious prospectivity and potential to develop as a significant high-grade copper-gold deposit,” Mr Martin said. “Rover 1 has many characteristics similar to the large high-grade Warrego Mine at Tennant Creek, which produced over 1.3 million ounces of gold and 90,000 tonnes of copper,” he said.Historical drilling, 14 holes, at Rover 1 defined strong gold, copper, bismuth and cobalt mineralisation over a strike length of more than 400m and defined a 200m-wide ironstone body, typical of the iron oxide copper gold (IOCG) mineralisation within the Tennant Creek Field.Significant historical drilling results from the discovery included 35m @ 8.6g/t Au, 1.3% Cu and 0.07% Bi, including 22m @ 13.4g/t Au, 1.3% Cu and 0.1% Bi; and 37m @ 2.9g/t Au, 1.4% Cu and 0.12% Bi, including 9m @ 10.1g/t Au, 1.3% Cu and 0.40% Bi.Westgold said the company plans to immediately commence a program of detailed magnetic and gravity surveys to better define the overall 3D dimensions of the ironstone body. An initial 5,000m diamond drilling program is scheduled to commence in early March 2008 following the northern wet season.“This will be a very significant program for Westgold, with the drilling designed to extend and define mineralisation both up-dip and along strike from the known historical intersections,” Mr Martin said. “The grant of the surrounding tenements will also give us access to another four, high priority targets and a number of other geophysical anomalies, which will also be covered by our exploration activities during 2008,” he said

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