how will nst utilise newly acquired funds?, page-20

OR MAYBE TIN

Am a guesser but not buying on that basis

VMS cap 70mill has south Paulsens area
see following
Paulsens South Project, Western Australia
map

closer

The Paulsens South Project (covering 68km2) flanks and covers a similar stratigraphic and structural setting to Intrepid Mines Ltd (recently sold to Northen Star Resources Ltd) high grade Paulsens Gold Mine (pre-mining combined Measured and Indicated Resources of 811,000t at 11.2g/t for 292,000oz Au, currently producing 80,000 oz gold per annum) in the Ashburton Mineral Field of Western Australia.

The southern licence portion of the project, is located 4 km southwest of Nustar’s Paulsens Gold Mine and covers a similar stratigraphic and structural setting in which northwest trending folds are developed in a faulted package of Melrose Argillite (lower Fortescue Group) and gabbroic sills in the nose of the Wyloo Dome. Reconnaissance rock chip sampling of deformed quartz veins within the Highway Fault Zone shows the presence of oxidized sulphides. Many of the historic gold workings (1930s) in the vicinity of Paulsens also included minor amounts of copper.

The northern licence project area covers rocks younger than the Paulsens sequence, in particular the Duck Creek Dolomite which has been successfully prospected further to the northwest and southeast for Carlin-style gold mineralisation where exploration targets include Merlin, Electric Dingo and Ibex. There has not been any significant modern gold exploration within the area.

In the north, the project includes approximately 5 km strike extent of the Marra Mamba Iron Formation, Hamersley Group, which hosts large quantities of iron ore second only to the Brockman Formation. With declining Brockman ore resources, the Marra Mamba is regarded as the next generation of Australian iron ore and currently defined deposits include West Angelas (Robe), Silvergrass (Hamersley Iron), Hope Downs (Hancock Prospecting – Rio Tinto), and Mining Area C (BHP Billiton).

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