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WILLIAMSON MINE

Summary

The Williamson deposit is situated on the Wiluna Mine Sequence covering 6km of strike with multiple mineralised structures, 26km from the Wiluna gold plant.  The area is covered by shallow sediments contained in the largely dry salt lake named Lake Way and consequently has had limited systematic modern exploration.  Williamson currently has JORC resources of 7.1Mt @ 1.6 g/t for 360,000 ounces of gold and an Exploration Target of 0.5 – 2Moz (4.4–11Mt, 2-6g/t au)1.

The Williamson open pit produced around 668,000 tonnes @ 1.98 g/t gold for a total of 42,000 ounces and ceased in September 2006, when the gold price was A$770/oz.

The mineralisation is free-milling and occurs as weakly disseminated sulphides within a broad anomalous envelope around a north striking/east dipping monzogranite. Higher grade sulphide and visible gold mineralisation is associated with the shearing on the contacts of the granite and also within a west dipping shear that intersects the monzogranite. Mineralisation within the monzogranite body varies from broad low grade disseminated sulphides in the monzogranite to high grade veins formed within fractures containing visible gold.

* The Company’s exploration target includes potential quantity and grade and is conceptual in nature.  There has been insufficient exploration to define mineral resources and it is uncertain if further exploration will result in the determination of mineral resources.

Key Project Points

  • 26km from the processing plant by existing haul roads
  • Resource currently 7.1Mt @ 1.6g/t Au for 360,000oz
  • Over 6km of mineralised strike with multiple structures plus geochemical anomalies currently being drilled
  • Williamson Exploration Target 0.5 – 2Moz (4.4-11Mt, 2-6g/t au)*
  • Poorly explored to date owing to area underlying Lake Way