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The Company holds a single Exploration Licence Application E45/2401 located 6kms to the northeast of the Newcrest Mining Ltd Telfer gold mine. The Telfer gold mine is host to one of Australia's largest gold deposits with a reported ore reserve of 18.0 million ounces of gold and 0.685 million tonnes of copper within a mineral resource of approximately 27 million ounces gold.
Previous drilling within the tenement has identified gold mineralisation at the Chicken Ranch Prospect, which included results of 6 metres @ 15.8 g/t gold. A brief evaluation of the drilling data has demonstrated that the mineralisation is discontinuous along a strike length greater than 300m and appears to be limited to 50m depth.
Subject to the Exploration Licence being granted, the Company will re-evaluate the historical data with a view to defining an appropriate exploration program.
A Heritage Agreement is required prior to the licence being granted and the Company has been advised by the Western Desert Lands Aboriginal Corporation (WDLAC) that the application is currently being assessed. The Company was asked to present to WDLAC
during the third quarter of 2011 as part of their assessment process. As a result of the company's presentation, the native title parties agreed to continue negotiations. A draft of an agreement has been provided by the WDLAC legal representatives and is currently under consideration. Once the agreement is finalised the licence application can proceed to grant under the Mining Act.
Tanami Officer Hill Joint Venture
Newmont Australia have joint ventured into Exploration Licence Application EL23150, which is located 34 kilometres southwest of the Callie Gold Mine, also owned by Newmont. Previous explorers located sporadic mineralisation from drilling such as 4m @ 4.64 g/t, numerous short intervals of 1-4 g/t, and several wide intercepts of 0.1-1 g/t. The prospect is considered to have excellent potential to host steeply plunging shoots such as those at the Tanami Gold Mine. An apparent fold closure to the east offers the possibility of discovery of Callie-style mineralisation at depth. This licence, located on Aboriginal Land, is currently under application, hence no work has been undertaken.
30 April 2013 QUR Quarterly Mar 2013 with PL comments > Read more
7 March 2013 Report for the Half-Year ended 31 December 2012 > Read more
31 January 2013 Quarterly Activity Statement December 2012 > Read more
30 October 2012 Annual Report to Shareholder 2012 > Read more
19 October 2012 Notice of Annual General Meeting 2012 > Read more
31 July 2012 Quarterly Report - June 2012 > Read more
1 May 2012 Appendix 3Z - Final Director > Read more
1 May 2012 Appendix 3X - Initial Director > Read more
1 May 2012 Appointment and Resignation of Directors - April 2012 > Read more
1 May 2012 QUR Quarterly Report - March 2012 > Read more