Projects

Gold Tenements

  • EL4990
    (Maryborough East) plus EL5156 - 5158 (crown land)
  • MIN5313
    (Maryborough East)
  • EL4991
    (Maryborough West) plus EL5159 & 5160 (crown land)
  • EL4988
    (Rutherglen)
  • EL5069
    (Daylesford)
  • EL4989
    (Walhalla West) plus EL5162 & 5163 (crown land)

Potential

The company directors have built up a unique portfolio of shallow, rapid development prospects selected with the ability, subject to feasibility, to generate quick cash flow. Current high gold prices are making the projects look more and more attractive to the company.

Gold historically extracted from Victoria up until the early 1900’s has been many Billions of dollars at current prices, from several world class mines.

Victoria has recently been overlooked we believe for the following reasons:

  • Overzealous environmental and anti-development lobby groups.
  • Depressed gold prices
  • Archaic mining act legislation and red tape

As a result of the recent higher price of gold and Victorian Government support, things have changed. Golden Century is targeting “fast track” shallow, alluvial and hard rock high grade gold production in Victoria that can be rapidly brought on stream, subject to feasibility.

Advantages of the Golden Century exploration and development strategy:

  • expected shallow & rich nature of many company targets
  • strong correlation between alluvial deposit and hard rock source (ie MIN5313)
  • low start up and clean up costs
  • geophysical (gravity) delineation of optimal bedrock target
  • simple costean testing for sampling to establish grades

pastoral holdings have:

  • no native title
  • limited crown land
  • minimal livestock and pasture carrying capacity due to drought

Rapid Development Targets

  • EL4991 - Maryborough West (alluvial)
  • EL4990 - Maryborough East (hard rock & alluvial)

There exists an opportunity to rapidly establish low capital, shallow alluvial & hard rock gold operations subject to feasibility, within the company tenements in Victoria. The key to these proposed projects is the potential rapid and cost efficient development characteristics of both styles of the proposed alluvial and hard rock operations.

Alluvial

The majority of the shallow alluvial leads identified as prospective for treatment can be located by evidence of historical workings (see Figure 1) however not all leads have visible surface expressions. Recent company research has revealed that there are significant alluvial lead systems within cleared freehold land that have no surface expression as a result of pastoral activities such as grazing, cropping, clearing etc. These areas are potentially the most prospective as they have been relatively untouched by modern electronic exploration techniques.

Figures 2 & 3 show alluvial leads on a prospecting map and their interpreted location on cleared freehold land where they no longer have any surface expression.The company has held preliminary discussions with gravity survey specialists Haines Surveys Pty Ltd regarding optimal traverse and station densities to clearly map subsurface bedrock contours beneath historical alluvial workings.

Haines Surveys Pty Ltd have confirmed the use of closed spaced gravity surveys as the most suitable geophysical technique to map bedrock contours under shallow alluvium and are now waiting to receive target data to prepare appropriate surveys. If feasible, this survey technique is planned to delineate the most prospective zones for extraction and treatment.

Hard Rock

In addition to the shallow alluvial potential of the tenement portfolio, Golden Century also has access to MIN5313 contained within EL4990 which contains readily accessible surface mineralization that can be extracted, subject to feasibility, to provide revenue.

MIN5313 covers an indicator/quartz vein mineralized system that was successfully operated by the previous holders until the licence was not renewed the company believes by mistake. Apparently the indicator/quartz setting is almost identical to that which occurred at the Poverty Reef Mine at Tarnagulla. The system is a N-S trending, easterly dipping (near vertical) quartz vein with associated indicator (see Figure 5). The width of the reef is 1-4 ft. The ferruginous indicator hangs on the western wall of the system and is identified as a thin, dark reddish-brown stained oxide layer. Wherever the indicator makes contact with the quartz reef, either directly or through cross-cutting faults acting as fluid conduits, rich concentrations of gold are deposited (see Figure 5). The quartz in between these contact zones is barren. The hardness of the quartz also increases near zones indicator/quartz contact, as does the abundance of “peacock stone”.

There is a strong fault towards the northern end of the worked area which can be located by the position of a gully on the western flank of the hill where a substantial amount of nuggets have been detected in the past.

The entire area including the existing shallow alluvial lead within EL4990 forms part of what company directors believe to be a textbook elluvial/colluvial/alluvial system which was still shedding gold at the time of its discovery in 1984. There is great potential to extend the operations.