"the company has been working on applying for a mining lease for its Mount Chalmers project, which was sifted from a string of opportunities identified by Fawdon, although many were discarded because they either had environmental problems or were overpriced.
The company, which has been privately funded, has undertaken surveying and tied in all 400 existing drillholes, and hopes to deliver a modern resource.
“Right now we have around 370,000 of gold equivalent, mostly copper. We have about 44,000t and 130,000oz gold in ground. If we leave the JORC until after listing it becomes a good news story post-listing,” Fawdon said.
Mount Morgan Ltd abandoned the Mt Chalmers area in the early 1980s, and Traprock has become the first company in 50 years to consolidate the 520 hectare area around the mine, which also contains the copper and lead-zinc-silver Botos and Tungamull prospect, neither of which has been adequately assessed.
The project also contains New Zealand Gully, some of the richest alluvial gold deposits mined in Queensland.
The company’s other projects are Warroo and Herries Range in the Traprock area in southern Queensland, associated with the gold-silver rich Texas beds and the Kabunga project in the South Burnett region where it will look for porphyry-style copper-gold mineralisation.
Warroo is largely unexplored outside the historic Warroo gold mine – Commodore copper mine corridor, within a 2km radius.
A focus of Traprock is following up work by Oxiana Exploration a decade ago at the Ti-Tree Ridge prospect, where gold up to 10.9gpt was assayed in outcrop with similarities to an epithermal quartz style."
