29
Cu
Copper
79
Au
Gold
KABUNGA PROJECT
Queensland
Major Copper Gold Epithermal Porphyry Target
Ownership
100%
Opportunity
Kabunga hosts gold mineralisation within many historical gold mine workings with significant gold and copper hits from the limited exploration drilling completed on the project.
Tec Minerals postulates a large-scale copper and gold porphyry deposit below the existing vein defined epithermal gold deposit over an area large enough for a major world class Cadia style discovery.
This concept can be tested utilising MFT quickly and cheaply for significant value creation for shareholders.
Tec Minerals postulates a large-scale copper and gold porphyry deposit below the existing vein defined epithermal gold deposit over an area large enough for a major world class Cadia style discovery.
This concept can be tested utilising MFT quickly and cheaply for significant value creation for shareholders.
Project
The Kabunga project encompasses one granted exploration licence covering 54km2 in the famous Gympie Goldfields region of Queensland.
Figure 1 Kabunga location map
The project is located 40 kilometres west of the well-known Gympie Goldfields (3.7 million ounces Au endowment) near the city of Gympie in South East Queensland.
The geology at the Kabunga projects demonstrates an epithermal gold deposit with potential for a significant porphyry copper and gold deposit at depth. Based on previous exploration at Kabunga, Tec Minerals is postulating that Kabunga hosts a large-scale porphyry and structurally defined copper and gold deposit below a vein defined epithermal gold deposit.
The target represents an important area of proven gold and copper mineralisation with previous mining. The priority target is the identified porphyry intrusive that is approximately 1 kilometre east-west and about 600 metres wide north-south.
Tec Minerals is targeting a Cadia style copper gold porphyry resource (Cadia: 44 million tonnes at 2.6grams/tonne Au and 0.82% Cu).
The geology at the Kabunga projects demonstrates an epithermal gold deposit with potential for a significant porphyry copper and gold deposit at depth. Based on previous exploration at Kabunga, Tec Minerals is postulating that Kabunga hosts a large-scale porphyry and structurally defined copper and gold deposit below a vein defined epithermal gold deposit.
The target represents an important area of proven gold and copper mineralisation with previous mining. The priority target is the identified porphyry intrusive that is approximately 1 kilometre east-west and about 600 metres wide north-south.
Tec Minerals is targeting a Cadia style copper gold porphyry resource (Cadia: 44 million tonnes at 2.6grams/tonne Au and 0.82% Cu).
Previous Exploration
The Kabunga project area contains known gold mineralisation within many historical gold mines and alluvial areas. It hosts three sets of prior workings, namely Kabunga line, Jimmy’s Scrub and Golden Sunset.
The Kabunga line of workings consist of at least 10 adits and shafts extending north-easterly up a ridge for a strike length of 1 kilometre. The Kabunga workings area drains into Gobongo Creek which produced all of the recorded alluvial gold production. Historical reports indicate gold is patchy, with previous reports indicating the presence of coarse gold flakes in loam and small quartz stringer veins on the hilltop.
The Kabunga line of workings consist of at least 10 adits and shafts extending north-easterly up a ridge for a strike length of 1 kilometre. The Kabunga workings area drains into Gobongo Creek which produced all of the recorded alluvial gold production. Historical reports indicate gold is patchy, with previous reports indicating the presence of coarse gold flakes in loam and small quartz stringer veins on the hilltop.
Assays from orientation rock samples collected from mineralised porphyry and vein assemblages at the Jimmy's Scrub historic workings included the following:
- 115 g/t Au, 55g/t Ag and 0.9% Cu from gossanous ironstone;
- 14.1 g/t Au, 11g/t Ag and 2.85% Cu from cupriferous and sulphidic quartz veins;
- 1.5 to 10.9 g/t Au, 4 to 6 g/t Ag, 0.2% Cu and up to 1110 ppm Bi from veins at the adit working face
and floor fines.
Mineralisation is developed in quartz veins along the eastern margin of a porphyry diorite dyke, with a magnetite lode on its western margin, and in subsidiary structures intersecting with the main dyke.
More recent trenching on the project has produced high grade samples up to 100 g/t Au with bonanza samples returning 400 g/t Au. Further rock chip samples retuned 4.0 g/t Au, 1.2% Cu and 7.7 g/t Ag.
The project has been the subject of limited previous drilling. Previous scout RC drilling was however highly encouraging, with assays of 1 metre @ 4.23 g/t Au from 58 metres down hole. This RC hole ended in mineralisation and remains open at depth.
Another scout RC hole intersected a zone of massive sulphide between 33-34 metres down hole. Assays of this zone returned 1m @ 11.9 g/t Au, 25 g/t silver and 4.48% Cu. This hole also ended in 1.05 g/t Au and mineralisation remains open at depth.
The previous drilling revealed that veins are sub-vertical and trend generally north-east following the predominant extensional joint trend in the porphyry. Typical mineral assemblage is quartz-pyrite-chalcopyrite with later carbonate veinlets cutting and faulting earlier quartz-sulphide veins.
Follow up mapping indicates a porphyry intrusive about 1 kilometre east-west and about 600 metres wide north-south. Only 1 kilometre of the Au strike length of the project area has been mapped and gold mineralization remains open in all directions.
More recent trenching on the project has produced high grade samples up to 100 g/t Au with bonanza samples returning 400 g/t Au. Further rock chip samples retuned 4.0 g/t Au, 1.2% Cu and 7.7 g/t Ag.
The project has been the subject of limited previous drilling. Previous scout RC drilling was however highly encouraging, with assays of 1 metre @ 4.23 g/t Au from 58 metres down hole. This RC hole ended in mineralisation and remains open at depth.
Another scout RC hole intersected a zone of massive sulphide between 33-34 metres down hole. Assays of this zone returned 1m @ 11.9 g/t Au, 25 g/t silver and 4.48% Cu. This hole also ended in 1.05 g/t Au and mineralisation remains open at depth.
The previous drilling revealed that veins are sub-vertical and trend generally north-east following the predominant extensional joint trend in the porphyry. Typical mineral assemblage is quartz-pyrite-chalcopyrite with later carbonate veinlets cutting and faulting earlier quartz-sulphide veins.
Follow up mapping indicates a porphyry intrusive about 1 kilometre east-west and about 600 metres wide north-south. Only 1 kilometre of the Au strike length of the project area has been mapped and gold mineralization remains open in all directions.
Figure 2 Kabunga porphyry intrusive showing previous mine workings and MFT survey area
Previous explorers of the tenement have reported a small high grade non-JORC resource of 3,000 tonnes @ 10 g/t Au confirming the high potential of the project. The resource is open at depth and along strike.
Exploration
The Kabunga project is considered highly prospective for porphyry copper-gold deposits and breccia-hosted copper, gold, lead, zinc and silver mineralisation.
Tec Minerals plans to utilise an MFT phase 1 satellite spectroscopy survey covering an area of approximately 15 km 2 incorporating the historic Kabunga line, Jimmy’s Scrub and Golden Sunset workings and previous drilling confirming the presence of gold and copper at Kabunga.
This work programme will test the porphyry copper-gold potential at Kabunga along strike and at depth and cost approximately US$100,000.
This low-cost high impact survey will take 4 weeks to complete, and if successful, will lead to a significant increase in the value of the project.
Tec Minerals plans to utilise an MFT phase 1 satellite spectroscopy survey covering an area of approximately 15 km 2 incorporating the historic Kabunga line, Jimmy’s Scrub and Golden Sunset workings and previous drilling confirming the presence of gold and copper at Kabunga.
This work programme will test the porphyry copper-gold potential at Kabunga along strike and at depth and cost approximately US$100,000.
This low-cost high impact survey will take 4 weeks to complete, and if successful, will lead to a significant increase in the value of the project.