Universal Resources Limited (ASX:URL) Reports On Quamby Gold Project, Preliminary Evaluation
Perth, Jan 12, 2010 AEST (ABN Newswire) - Universal Resources Limited (
ASX:URL) are pleased to report the results of a preliminary field examination of the Quamby open pit gold mine (now abandoned).
Location
The Quamby gold mine is located within the Roseby Copper Project tenements some 20km SSE from the proposed Roseby treatment plant site and approximately 10km west of the Quamby "Roadhouse" situated 40km northerly from Cloncurry on the Burke Development Road.
Geology
Quamby Gold Mine production figures have not been located to date.
Production from the mine was derived from a north trending open pit up to 30m deep and with approximate dimensions of 200m by 30m.
Gold mineralization is hosted within very hard, indurated, coarse detrital sediments interpreted as having been deposited in rivers and lakes. These sediments form a down-faulted portion of the Quamby Conglomerate of Middle Proterozoic age. Gold appears to occur predominantly within the coarser sediments in association with water-worn, coarse, detrital hematite and ilmenite.
Previous workers have suggested that the gold mineralisation is a fossil placer deposit.
Host sediments strike north-easterly and have a northerly dip varying from 25 to 45 degrees.
The pit trends sub-parallel to the western bounding fault to the Quamby Conglomerate and almost at right angles to the strike of the host stratigraphy. Northerly-trending faulting is visible in the western pit wall and exhibits enhanced oxidation and weak hydrothermal alteration.
Thrust faulting, dislocation and large-scale crackle brecciation is evident in the eastern pit wall.
These observations suggest that the gold mineralization, rather than being a placer deposit, is more likely to be of hydrothermal origin, associated with the western bounding fault to the Quamby Conglomerate depositional and structural basin. This fault is interpreted to be the Mt Rose Bee Fault and affirms a potential for the northern portion of the latter to host hydrothermal gold deposits. The former Tick Hill gold mine (650,000 tonnes @ 25 gpt gold mined by MIM between 1991 and 1994) is a gold-only deposit. It is located approximately 325km to the south of Quamby and is believed to lie proximal to the southern extension of the Mt Rose Bee Fault.
Sampling and Assaying
A total of 26 rock samples were collected from the site, including: 9 from pit walls and floor; 9 grab samples from the waste dump slope faces and bunds, 2 traverses across the surface of the waste dump; 3 from traverses across the surface of the leach pad; 2 samples of what is probably a stockpile of grizzly oversize material; and 1 surface sample from SW of the pit crest.
Sample preparation included weighing then pulverizing to a nominal 75% passing 150 microns, screening at 150 microns and weighing of the coarse and fine screen samples.
Gold content of the samples was determined by fire assay of 25 gram splits of the fine material and 50 gram splits of the coarse material. The weighted average gold content of each sample was calculated from the coarse and fine fire assays.
An ICP multi-elemental analysis was also completed on a 25 gram split of the fine fraction.
Discussion
The sample results in bold type demonstrate the presence of fine and coarse (>150 micron) gold in a number of rock samples. The highest screen-fire assay gold grades occur in rocks with coarse gritty iron and titanium concentrations rather than in the finer grained heavy mineral bands. This may result from enhanced permeability of the coarser sediments to gold-bearing fluids. Copper, lead, zinc, molybdenum, cobalt and silver values are very low and on this basis the mineralization is interpreted as a mono-elemental gold deposit.
Given its structural setting and associated hydrothermal alteration, the Quamby gold deposit is interpreted to be of hydrothermal origin, located along the Mt Rose Bee Fault system.
Future Work
Follow-up exploration of the Mt Rose Bee Fault system for hydrothermal gold mineralization along strike from the Quamby gold mine is warranted and will be undertaken during the 2010 field season.
For the complete Universal Resources ASX Announcement, tables and figures; please click the link below.
http://www.abnnewswire.net/media/en/docs/62051-ASX-URL-476440.pdf
About Altona Mining Limited
Altona is a cashed up ASX listed company with a record of shareholder returns. It is focussed on the Cloncurry Copper Project in Queensland, Australia.
The Cloncurry Copper Project has resources containing some 1.65 million tonnes of copper and 0.43 million ounces of gold. The first development envisaged is the 7 million tonnes per annum Little Eva open pit copper-gold mine and concentrator.
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