“The information in this report that relates to The Levan Star Mineral Resources is based on information compiled by Kerrin Allwood, who is a Member of The Australasian Institute of Mining and Metallurgy and The Australasian Institute of Geoscientists. “
FYI - Kerrin Allwood worked at Fosterville for 4-5 years.
“The Levan Star Lode is hosted by one of the multiple known gold bearing structures spread over a strike length of at least 2 kilometres in the contiguous historic Drummond North and Belltopper Hill Goldfields (see figure 1). These structures have been subject to extremely limited exploration. The Drummond North Goldfield (Queens Birthday/Egyptian/O’Conners Mines) yielded around 90,000 ounces from mining in the late 1800’s and to date has only been tested by one drill hole. “
“The Malmsbury Project displays many geological and mineralogical similarities with mineralisation at the nearby world class 8.8Moz Fosterville Gold Deposits including; style of gold mineralisation, age of formation, mineral association, host geology and structural setting. GBM’s geological team have extensive experience of the Fosterville gold deposit and a review of the key features of both deposits in light of recent developments at Fosterville has reinforced the view that the Malmsbury Project remains highly prospective for further significant resource increases. “
“Most of Victoria’s gold production has been from the Bendigo Zone associated with the well known quartz reef style deposits discovered in the 1850’s and formed around 445Ma (Phillips et al, 2012). The Malmsbury mineralisation is linked with a younger period of geological deformation which included intrusion of late Devonian granite suite around 370 million years ago (the quartz reef hosted mineralisation was formed much earlier at around 440Ma). Mineralisation at Malmsbury belongs to a style with strong association with antimony and falls within the Costerfield Mineralisation Domain (Phillips et al 2013) which includes the high grade Fosterville and Costerfield Gold mines. The contiguous Drummond North and Belltopper Hill Goldfields together extend over an approximately northerly strike for at least 4 kilometres. Historical Production based on known historical workings is estimated at 98,000 tonnes returning 91,000 ounces of gold at an average recovered grade of 29 g/t Au (refer ASX GBM Prospectus 14 August 2007 pp13). The combined Levan Star Resource and past production total over 200,000 ounces of gold within approximately 150 metres of surface and a strike length 2 kilometres or approximately half of the strike of the known extents of mineralisation. The high grade mineralised zones at Fosterville have been drilled to more than 6 times this depth or 1,200 metres below surface and are still going. GBM also drilled a deep hole, MD-12 (1,000 metres) to test the potential for Intrusive Related Gold System on the North End of the known mineralisation as it trends toward the Harcourt Granodiorite to the North. This hole confirmed a range of mineralisation indicators, (including tungsten, copper, molybdenum and bismuth) supportive of an IRGS system existing in this area and to a depth of at least 1 kilometre. Recent re-processing of magnetic data suggests that the centre of the system may be located north of drillhole MD-12. It is interesting to note that the Myrtle Creek Prospect at the south end of the Fosterville trend as it approaches the North contact with the same Harcourt Granodiorite also exhibits some intrusive related characteristics (refer to G. Dean 2010, Rediscover Victoria Drilling report MP-RDV-227 ). “
GBZ Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
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