Sefton Gold Project
The Eastern Goldfields province is known for its rich gold endowment. The region hosts established gold mines such as 5.2Moz Granny Smith (Gold Fields Limited), 10Moz Sunrise Dam (AngloGold Ashanti), 5.8Moz Gruyere (Gold Road & Gold Fields) and 7Moz Tropicana (IGO & AngloGold Ashanti)
Eastern part of the Eastern Goldfields province largely unexplored due to transported cover and represents an opportunity for Octanex.
The Sefton Project licences were selected to cover areas interpreted (from regional geophysics) to contain potential mineralised structures such as the Mt Sefton lineament as well as numerous unnamed structures Bedrock geology in this region was historically mapped as granites. Map detail is limited due to cover. Greenstones, mapped to the north of the project area, are likely to continue into the Sefton Project Area (along the structures) under cover. There is potential for both greenstone-hosted and granitoid hosted mineralisation.
Surface geochemistry is a low-cost exploration tool to test for widespread (low grade) surface expressions of mineralisation under cover. Octanex is using lag sampling to identify kilometre-scale, low level detection gold and gold-pathfinder anomalies for follow-up testing. Initial, wide-spaced lag sampling program returned encouraging anomalism.
- Peak values up to 3.2 ppb gold (considered high for lag samples).
- Six gold anomalies greater than 1.5 ppb.
- Anomalous gold-pathfinder elements support or expand the size of the anomalous fingerprint.
Follow Up lag sampling is planned to commence in May to expand into areas not yet tested; and to conduct closer spaced infill sampling around anomalous results.