NAE has rapidly assembled a large tenement package in the highly competitive Central Pilbara district of Western Australia located ~40km from De Grey Mining’s exciting Hemi gold discovery which is prospective for intrusive-related (Hemi style) gold and structurally hosted gold mineralisation.
The 100% owned Pilbara Gold and Lithium Project tenements include a combination of NAE Exploration Licence applications and granted Exploration Licences acquired from Monterey Minerals Inc as follows:
- NAE’s newly named ‘Quartz Hill Gold Project’ comprises 8 Exploration Licence applications (E47/4406, E47/4407, E47/4408, E45/5724, E45/5725, E45/5726, E47/4450 and E47/4435) made by NAE in July and September 2020 and 1 granted Exploration Licence (E47/3891) acquired from Monterey Minerals Inc (CSE: MREY) in September 2020. The Quartz Hill Gold Project covers a large 1,690 km2 area located ~40km south of De Grey Mining’s (ASX: DEG) Hemi Gold discovery and immediately adjacent to Kairos Mineral’s (ASX: KAI) Croydon project. The northernmost Exploration Licence in NAE’s Quartz Hill Gold Project (E47/3891) is also located immediately south of Novo’s Egina gold project where extensive terraces of shallow, gold-bearing gravels have been delineated.
- NAE’s newly named ‘Bullock West Gold Project’ comprises 2 granted Exploration Licences (E47/3886 and E47/3887) acquired from Monterey Minerals Inc in September 2020 and 1 Exploration Licence application (E47/4421) made by NAE in September 2020. The Bullock West Gold Project covers an area of 166.5 km2 and is located ~40km southwest of De Grey Mining’s Hemi Gold discovery.
- E45/5180, a granted Exploration Licence acquired from Monterey Minerals Inc in September 2020, located near Marble Bar and adjacent to Novo’s historical, high-grade Talga Talga gold project which produced 1,614 oz at average grade of 35.1 g/t gold.
Figure 1: Location of NAE’s Central Pilbara Gold and Lithium Projects
- In addition, NAE has the option to acquire a further 4 granted Exploration Licences from Monterey (E47/3958, E45/5064, E45/5065, E45/5063) which are located ~25km to the north and the northwest of De Grey Mining’s Hemi Gold discovery. NAE has the exclusive right to the option for a 45-day due diligence period which commenced on 29 September 2020.
NAE Pilbara Gold and Lithium Projects – Location of Tenements
Quartz Hill Gold Project
Geologically the Quartz Hill Gold Project applications/licence overlie a pre-dominantly greenstone sequence of mafic and ultramafic rocks belonging to the East Pilbara Granite-Greenstone Terrane (EPGGT) and Granitoid Complexes comprising the Yule Granitoid Complex and the Sister Supersuite. Some of the granitic intrusions (Yule and Sister granitoids) have magnetic signatures and are of comparable age to those in the Hemi discovery.
Magnetic targets have been identified within the NAE Exploration Licence applications over the Quartz Hill Gold Project as shown in Figure 1.