Gold prospect with an intermediate level of exploration
(50% owned in JV with Peninsula Energy Ltd.)
The Rakiraki Project area covers three known Prospects; Tataiya, Qalau and 4300.Gold mineralisation across these areas forms part of a Low Sulphidation Epithermal (LSE) System, which is locally associated with quartz veining and dilational structures.
All of the Rakiraki Prospects require further drilling to expand upon the initial and encouraging trench and drilling results. All of the zones are open to depth and along strike. The high grades, as well as the high gold-to-silver ratios achieved, suggest the presence of high-grade epithermal mineralisation.
Rock chip sampling and trenching across a low north-west striking ridge, not been previously released, intercepted high-grade values including 620g/t Au, 530g/t Au, 35.8g/t Au in rock chip and up to 20.5g/t Au in trenches.
High-grade trench results include:
- 2m @ 3.58g/t Au
- 1m @ 20.5g/t Au, 6.5g/t Ag, & 0.12% Cu
High-grade, rock-chip samples include:
- 620g/t Au & 1.3% Cu outcrop sample from NW end of Tataiya Vein on Gold-Copper Shoot
- 530g/t Au, 330g/t Ag, & 3.5% Cu float sample from NW end of Tataiya Vein on Gold-Copper Shoot
- 8g/t Au float sample at trench location in SE end of Tataiya Vein
- 5g/t Au vein sample from trench at trench location in SE end of Tataiya Vein
These results date from the 1980’s, pre Geopacific’s involvement, with the exception of the 120,5g/t Au vein sample by Geopacific (2008).
A high ratio of gold to silver in most samples is characteristic of high-grade LSE Systems and this suggests that the potential of the system may be significant. Ground magnetics over the area indicate that the zone is associated with a broad magnetic low, indicative of strong alteration and this is also characteristic of larger epithermal systems. Only 5 drillholes, drilled in 1987, have been used to test the mineralisation to a depth of 100m. All holes intercepted anomalous mineralisation associated with the epithermal quartz zone.
There is a strong occurrence of high-grade, near-surface gold mineralisation within anomalies identified from geophysical surveying at the Qalau Prospect. Ground magnetics has proven to be an effective exploration approach as it has enabled the definition of gold drill targets that have subsequently led to continuity in mineralisation. Diamond drilling at Qalau intersected significant zones of gold mineralisation, beginning with the first hole. Significant intercepts (Figure 6) include:
- 8m @ 14.43g/t Au from 61.2m (August 2006)
- 6m @ 1.32g/t Au from 33.4m (November 2006)
Known mineralisation is dominated by high-level epithermal gold veining with potential for more extensive mineralised veining at depth and along strike. The mineralisation appears to follow an east-west trending zone that corresponds to a zone of high resistivity and low magnetic response which is typical of quartz mineralised epithermal systems. High-grade, near-surface results from drillinginclude:
- 9m @ 1.5g/t Au from 63.1m, incl. 3.0m @ 3.75g/t Au from 65m and 2m @3.36g/t Au from 70m (December 2012)
- 0m @0.24g/t Au, incl. 1.0m @ 1.36g/t Au (December 2012)
- 0m @ 0.28g/t Au, incl. 2.0m @ 0.78g/t Au (December 2012)
As with the Qalau Prospect, ground magnetics and geophysical surveying techniques allowed targets to be developed to test anomalies. Diamond drilling at these targets resulted in high-grade, near-surface mineralisation including the following results: