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Queensland Exploration Projects

Queensland Projects

Our projects in central Queensland are located within a proven gold province in a region hosting intrusion related gold (IRG) systems, porphyry and epithermal style gold to copper-gold systems, and skarn type mineralisation.

The tenements are located approximately 80km south of Gladstone and 150km west of Bundaberg in central Qld, both are major regional hubs with domestic airports.

A number of mines and multiple active exploration projects defining resources are located in the area, including:

  • Mt Rawdon Mine: Commenced production in 2001 with production of approximately 1.8Moz gold to 2020 (Evolution Mining Limited, 2021) and
  • Remaining Reserves: 398koz Au @ 0.62g/t gold
  • Forecasted AISC: A$1,290 – A$1,340
  • Mt Cannindah: Hosts a Mineral Resource of 5.5 Mt @ 0.93% Cu (Cannindah Resources Limited, 2021) and has reported multiple successful drill intercepts Zenith Minerals (Red Mountain)
  • Mt Morgan: Historical production of 50 Mt @ 0.72% Cu and 4.75 g/t Au yielding 361 kt of copper and 239 t of gold (Porter GeoConsultancy Pty Ltd, 2021)
  • Cracow: Historical production of 850 koz gold to 1992, reopened in 2004 with an annual production of approximately 80 koz gold, and total gold production to 2018 of 2.2 Moz gold (Evolution Mining Limited, 2018)
  • Triumph Project: Located just NE of Many Peaks where Sunshine Gold Limited have announced a maiden gold resource totalling 1.8 million tonnes at 2.0 g/t gold (ASX:SHN announcement dated 31 March 2022)

Portfolio

  • MPG is advancing 3 projects across a large 464km2 land position including the flagship Mt Weary Gold Project, and surrounding regional projects:
  • Rawlins Copper-Gold Project
  • Monal Gold Project
  • Multiple Historic Mines and existing Occurrences
  • Host to both IRGS style mineralisation / epithermal style gold, and occurrences of sediment-hosted copper mineralisation and of multiple Cu-Au Skarn.
  • Excellent Infrastructure
  • 80km south of Gladstone and 150km west of Bundaberg
  • Flagship Mt Weary Project 3km from maintained access roads and power
  • Excellent existing dataset
  • Extensive soil, rock chip and mapping completed
  • Regional Airborne Mag, Ground Mag, IP-Resistivity datasets
  • Drill ready targets defined

Mt Weary Project

The Mt Weary Project is comprised of several Prospects associated with small intrusions and breccia bodies formed near the margin of the large Lawyer Granite intrusion complex.
The Company completed a maiden drill program in 2022 where gold mineralisation is confirmed associated with induced polarity (IP) anomalies in ground geophysics.

The initial campaign of drilling by MPG successfully identified higher tenor gold mineralisation at the Boggy Creek prospect area within the Mt Weary Project area, and expanded the footprint of mineralisation identified in historical drilling. Mineralisation remains open in both directions along strike, including more than 2km of higher tenor surface anomalism yet to be tested.

Also, a substantially larger volume of favourable porphyry textured intrusions (diorite) is identified in step-out drilling than recognised in previous mapping and drilling. The diorite bodies identified are consistently associated with strong hydrothermal alteration and pyrite (+/- arsenopyrite) mineralisation.

Mineralisation remains open in all directions, previous results (refer to ASX releases dated 31 March and 7 June 2022) include:

  • 2m @ 3.75g/t gold from 101m – BCRC001
  • 2m @ 6.24g/t gold from 32m – RC94CH13
  • 7m @ 2.04g/t gold from 13m – BCRC003
  • 17m @ 0.75g/t gold from 10m,
    including 7m @ 1.28g/t gold and 21m @ 0.48g/t gold from 109m to end of hole – BCRC005
  • 94m @ 0.49g/t gold from surface to hole ending in mineralisation – RC93CH3
  • 11m @ 0.53g/t gold from 73m – BCRC007
  • 66m @ 0.47g/t gold from 59m (hole ending in mineralisation)
    including 20m @ 0.8g/t gold from 84m – DD93CH10
  • 12m @ 1.54g/t gold from 40m – RC93CH4

Regional Exploration

Rawlins Project

Approximately 20km west of the Mt Weary Gold Project, a number of copper-gold prospects occur over an area of approximately 5kms by 3kms comprising the:

  • Rough Gully Prospect
  • Copper Knob Prospect and
  • Eastern Star Prospect.

These three Prospects are clustered together on the margin of a significant annular feature in regional magnetic datasets.

The aerial magnetic anomalies are coincident with several zones of surface copper-gold anomalism returned in surface sampling and mapping completed by the Company in the 18 month period prior to listing. The Rough Gully magnetics feature is considered to be a buried intrusion not previously recognised. In addition to anomalism in systematic soil survey work, better rock chip sampling results across the Rawlins Project area include:

  • 31.1g/t Au, 56g/t Ag, 0.6% Cu
  • 9.55g/t Au, 59.2g/t Ag, and 2.84% Cu
  • 1.12g/t Au, 14.6g/t Ag, and 10.7% Cu

The Eastern Star Prospect is a separate sub-circular magnetic feature with a linear zone in its northern section that extends past the main circular shape. Recent trenching at Eastern Star has provided better intercepts including:

  • 5.4 m @ 0.98 g/t Au, 8 g/t Ag, 0.17% Cu,
    Including 1.5 m @ 2.79 g/t Au, 8 g/t Ag, 0.83% Cu. CH21ES01
  • 1.2 m @ 3.49 g/t Au, 11 g/t Ag, 0.73% Cu – CH21ES02
  • 1.0 m @ 8.94 g/t Au, 64 g/t Ag, 0.72% Cu – CH21ES03
  • 3.5 m @ 0.98 g/t Au, 13 g/t Ag, 0.42% Cu,
    Including 1.2 m @ 1.29 g/t Au, 25 g/t Ag, 0.74% Cu – CH21ES04

Monal Goldfields

>2km long corridor of historic underground gold mines where recent mapping has re-defined interpretation of key structural controls. The Company will continue with mapping and surface geochem work with the objective of defining drill targets to rank against ongoing work planned for the Mt Weary and Rawlins project areas.