Bryah Basin Project
The Bryah Basin project is considered prospective for gold and copper-gold VHMS mineralisation. The project is located within the Bryah Basin, a Proterozoic-aged volcano-sedimentary rift basin.
Gateway holds a 15% free carry interest over tenements E52/3248 and E52/3291 located in the Bryah Basin Project area as part of a joint venture with Auris Minerals Limited. Gateway also owns a 1.5% net smelter royalty over tenements E51/1738, E51/1842, E52/3273 and E52/3510 (Tenements) also located in the Bryah Basin. Gateway also owns 20,000,000 fully paid ordinary shares in Strickland Metals Limited (ASX:STK) (formerly, Alloy Resources Limited), and these were issued as part consideration of Gateway’s sale of the Tenements to Strickland.
In particular, the basin is currently a focus of:
Sandfire Resources Ltd’s (Sandfire) DeGrussa copper-gold project (including the high-grade Monty Cu-Au Deposit in a joint venture with Talisman Mining Ltd). Sandfire is also actively exploring the Bryah Basin and has consolidated much of the tenure surrounding the Gateway project.
Westgold Resources Ltd’s (Westgold) Fortnum gold project including the Fortnum, Labouchere, Horseshoe and Peak Hill mines. Westgold acquired the Fortnum gold project in October 2015 and has since refurbished the plant and recommissioned it in June 2017.
Auris Minerals Ltd’s Forrest-Wodger copper-gold project where significant mineralisation has been intersected in drilling over the past 2 years.
The prospectivity of the project for gold and copper-gold mineralisation is illustrated by the presence of existing mineral occurrences in historical workings and programs of geochemical sampling, the presence of major interpreted basin margin structures and favourable geology within the project area. In particular, the Narracoota volcanic sequence, the host of the DeGrussa, Monty and Forrest-Wodger mineralisation is mapped within the project area (Figure 3.0).
Data available for targeting the project includes a systematic database of all historical open file exploration results (including drilling), airborne magnetic survey data and airborne electromagnetic survey data.
Initial programs of exploration at the Bryah Basin project will include consolidation of the available data, targeting, geochemical sampling and mapping. Identified targets will then be considered for ground based electromagnetic geophysical surveys and targeted drilling programs.
Figure 3.0 Bryah Basin Project Location and Geology