Stratum created a unique opportunity in 2012/13 by consolidating 70 prospecting licences, 1 exploration licence and 2 mining leases for a total of 154km2 in the historic East Menzies Goldfield. The consolidation provides the opportunity to merge the extensive database, undertake a regional view of mineralization controls and structure, and then target exploration in a historically prospective region.
In November 2013, Stratum increased its shareholding to 100% of Menzies Goldfield Ltd, which holds the EMGP tenements ranging from 80% to 100% interests.
Stratum has a focused strategy on the potential for early gold production, initially from shallow targets in and around 2 former open cut mines, Granny Venn & Auntie Nellie (now known as the G-VAN Project). Historically ore from these open cut mines was processed at the nearby Paddington Mill, and as recently as 2012 a remnant ore stockpile was trucked from site and processed at Paddington. Stratum has an 80% interest in the G-Van Project with the minority interest carried to production.
Immediately on securing the tenement package at East Menzies Stratum began assessing the potential around the Auntie Nellie and Granny Venn open pit mines. Recognising a potential structural control oblique to the original drilling Stratum undertook a nine hole RC program in early 2013 to the north of Auntie Nellie1. Drilling was successful and has ultimately added support to development of the G-VAN Project.
- EMRC002 – 8m @ 1.79 g/t Au from 8m
- EMRC003 – 15m @ 1.79 g/t Au from 23m (including 6m @ 2.38 g/t Au)
- EMRC004 – 6m @ 1.13g/t Au from 15m
- EMRC005 – 13m @ 1.55g/t Au from 31m (including 5m @ 3.02 g/t)
- EMRC008 – 7m @ 2.65 g/t Au from 0m (including 4m @ 4.27 g/t Au)
In 2013, fieldwork also highlighted the broader gold potential of the EMGP, with 444 old mine shafts identified and sampled over 11 km of strike, and recent work and existing data indicates significant potential for underground mining at good grades from multiple high grade targets within the broader Goodenough Mine area.
Gold exploration drilling has also been completed in the vicinity of the historic Goodenough Underground Gold Mine, to test a new model of structurally controlled high grade plunging shoots. Eight holes were drilled and results2 have been combined with historic drilling to confirm support for this model.
- EMRC014 – 8m @ 1.6 g/t Au (including 2m @ 5.2 g/t Au)
- EMRC015 – 9m @ 2.2 g/t Au (including 2m @ 6.0 g/t Au)
- EMRC016 – 2m @ 17.7 g/t Au (including 1m @ 34.7 g/t Au)
- EMRC016 – 9m @ 2.7 g/t Au (including 2m @ 9.9 g/t Au)
- EMRC020 – 2m @ 7.8 g/t Au (including 1m @ 11.1 g/t Au)
Existing infrastructure supports Stratum’s new strategy including on site at the G-VAN Project (haul road, dumps etc); easy access to infrastructure in the Kalgoorlie, Leonora and Laverton region; and relatively short trucking distance to a number of existing gold processing plants seeking higher grade feed.
1. Full program details and results available via the investors section of this website in the ASX announcement dated 4 June 2013.
2. Full program details and results available via the investors section of this website in the ASX announcement dated 13 February 2014.