Cauldron Energy Ltd (ASX:CXU) has a golden opportunity to exploit the remaining riches held by the Blackwood Goldfield in central Victoria after the joint venture consolidated all leases and licences over the project.
The “first-in-a-generation” consolidation of the goldfield by Cauldrons JV partners has enabled the company to compile and review recent and historical comprehensive mining and exploration data.
Review work undertaken to date paints a highly encouraging picture that indicates a potential restart of mining operations.
Final results of the review will underpin planning of all further exploration for Cauldrons experienced exploration team to follow up.
An exploration model built from the data compilation and review to date highlights the Blackwood Goldfields Project as having the potential to host multiple high-grade gold systems.
Data reveals potential extensions
Drilling data reveals bonanza-grade zones extending the target areas well beyond numerous historic gold mining platforms.
There is a near contiguous 3.5-kilometre-long trend of high-quality gold exploration targets, a trend that is only now visible with access to the entire dataset.
The identification of high-quality targets in areas having underground mine access allows for low-impact and low-cost testing of gold lodes which will reduce costs because of a reduction in the total length of drilling.
Low community impact
This provides the opportunity to operate on a very low community impact basis in line with Cauldrons plan to focus on the historical low environmental and community impact mining methods that are facilitated by the Victorian style of narrow high-grade gold mineralisation.
Cauldron said the advantage of working the entire goldfield and setting an expRead More – Source