re: castlemaine highest known gold mined As I used to admire...

re: castlemaine highest known gold mined As I used to admire WMC, they left it on open....

In 1988, Western Mining Corporation Limited (WMC) drilled OTBD-41, a 440m deep diamond drillhole into the Frederick the Great Anticline. A 20 m (downhole) zone of carbonate alteration and silicification with quartz veining hosting pyrite and a r s e nopyrite was intersected in the east limb of the anticline, 100m below the Frederick the Great Main Reef workings. Within this intersection there is a 0.6 m interval of quartz veining with repeat assays varying from 18.3 to 31.0 g/t Au. WMC also drilled another diamond hole (OTBD-38) approximately 400m to the south of OTBD-41. This hole passed down the western limb of the anticline and intersected zones of carbonate alteration, quartz veining with pyrite and anomalous gold values at depth in the eastern limb of the axis. WMC pulled out of the area without following up on these holes.

In August 2005 drillholeFTG 002 commencedfrom a position 50m north of OTBD-41. The hole was designed with structural and lithological information gained from FTG 001 and drilled adjacent to OTBD-41 in the 2004 exploration program. This earlier diamond hole had confirmed the existence of a broad zone of alteration and quartz veining, and the presence of a reef structure, as indicated by the WMC drilling. This confirmation of the structural model for the reef provided the confidence to test for higher grade reef segments along strike.

Drillhole FTG 003 commenced in October 2005 designed to test the southern plunge extension of the main Frederick the Great Reef in the east limb of the Frederick the Great Anticline and possible repeat structures beyond this. WMC drillhole OTBD-38 indicated that further reef structures were probable in the eastern limb of the main anticline east of the main reef.

Work to date has proven that the most economically prospective corridor west of the Bendigo Medial Line in fact does continue into the central portion of the Sebastian Project. The success of drilling at Frederick the Great can be viewed as a launching pad with which to test the large area between this structure and the Bendigo Medial Line.

Alexander Resources aims to prove the character and extents of the “New Reef” and having successfully done so use this to generate further exploration targets based on the extrapolated extensions to the en echelon pattern of reefs likely to be present within the Sebastian Project. Two or more gold-bearing reefs, of between 250,000 and 500,000 ounces each at historical grades, would provide sufficient resources to establish a stand-alone future mining operation.


http://www.axd.com.au/projects_Sebastian.asp


T10 :))