Drill ready targets, prospective for Gold, Nickel and Copper
Challa Gold, Nickel-Copper-PGE Project encompasses two exploration licences and three licence applications totalling 860km2. This area covers a large portion of the Windimurra Igneous Complex (WIC) east of Mt Magnet, which contains Australia’s largest layered ultramafic-mafic intrusions.
The Paynesville Windsor goldfield at Mt Magnet East has been in limited gold production over the past 40 years, often producing high-grade gold, totalling about 6,000t for 6,328oz. While historic exploration is limited, the Challa Project is prospective for:
- Gold (+/- Copper) – Shear zones under transported cover
- PGE – Anomalous mineralisation discovered over large area, limited prior work favourable geological setting
- Ni-Cu – nickel-copper sulphide accumulations associated with more ultramafic portions of the WIC
- Base metals – Strong Pb, Zn, Cu, Ag, Sn, Au mineralisation identified from very limited work, VMS and hydrothermal targets
- Lithium – LCT pegmatites have been located within the WIC.
Highlights from previous drilling include:
- NA-3 – 57.5m from 57m to end of hole (eoh) @ 0.14 g/t Pd+Pt1 at Wondinong East
- WRC-6 – 115m from 32m (eoh) @ 0.132 g/t Pd+Pt incl. 24m 0.179 g/t and 10m 0.214 g/t Pd and Pt at Wondinong East
- WM9 – 10m @ 0.15% Cu, 0.03% Ni, 0.15 g/t Pd at Windimurra Ni-Cu-PGE target
- K-R87-10 – 5m from 14m to eoh @ 0.96 g/t Au at Killarney
- E 047/0004 – 3.2m (partially sampled 21.1m mineralised shear zone intercept) at 1.7% Zn and 3.3% Pb at John Bore
Rock chip sample highlights include:
- W003 – Copper gossan in **bro 16.2% Cu, 566 g/t Ag, 0.4 g/t Au, 0.13 g/t Pd+Pt, 0.2% Bi at John Bore South
- 205946 – Ferruginous chloritic mafic schist 56.1 g/t Au, 0.37% Cu, 0.185 g/t Pd+Pt at Killarney
- K02 – **bro with quartz and copper 16.25 g/t Au, 6.65% Cu, 0.19 g/t Pd+Pt at Killarney
- 205947 – Amphibolitic **bro 5.41 g/t Au, 0.49% Cu, 0.26 g/t Pd + Pt at Killarney
- CH-0079 – Quartz vein 33.3 g/t Au, 0.40% Cu at Pioneer
Midas’ exploration at Challa Project will initially focus on known areas with Killarney, Wondinong East and Windsor-Milgoo as first priority targets and Rosemary Anne, Heelier, Woodley, Windimurra and Challa as second priority subject to the progress of the Exploration licence applications. Midas is initially targeting gold-copper and PGE, associated with disseminated sulphides and will use selective geochemistry and geophysics to focus the drill targets. Midas will also explore LCT pegmatites.
