The strategic move into Australian gold exploration is an important step for POW, complementing our African base metal interests and providing portfolio diversification by commodity and jurisdiction.
Australian gold exploration and development projects are attracting considerable interest, especially in the Victorian goldfields following the remarkable discoveries at depth at the Fosterville mine, where in Q1 2020 Kirkland Lake produced 159,864 oz Au at 42.4g/t.
Historic mining in the Victoria Goldfields has been alluvial or at shallow depths and they have been underexplored in modern times. Through a joint venture with Red Rock Australasia Pty Ltd (“RRAL”), we have lodged applications for the following exploration licences in Victoria.
|License Application Number||Project Name||Area (sq km)|
All license application areas have extensive evidence of gold mineralisation and in many cases recorded production and historical drilling. Analysis of historical exploration and geophysical data continues, and further updates will be provided in due course.
Project: Red Rock Australasia
Target metals: Gold
Status: Active | Licence applications covering 1,835 sq km submitted in Victoria Goldfields