An area centred ~35 km north of Yunta is being explored for possible buried primary hydrothermal gold deposits within Neoproterozoic bedrock, as part of a broader search for same in a region which has significant surficial gold deposits which were...
An area centred ~35 km north of Yunta is being explored for possible buried primary hydrothermal gold deposits within Neoproterozoic bedrock, as part of a broader search for same in a region which has significant surficial gold deposits which were mined historically. During the first licence year, background research into the prospectivity of known aeromagnetic anomalies was commissioned from an overseas geophysical consultant. Potential magnetite-rich strata were identified at great depth, and two drill sites were proposed for testing these. No field work was done during the first six years of tenure due to unforeseen time and financial constraints which befell the licensee. In 2016, litigants who have been and are still suing him over breach of contract relating to his participation in their Braemar magnetite iron ore project. Bankruptcy proceedings have also been brought against him. The licensee, Mr Peter Lewis, passed away in 2017. In 2018, following the passing of Mr. Peter Lewis sole director of Mawson Gold NL, the company was placed in liquidation as administered by Duncan Powell. For this reason, no exploratory work on the ground has occurred during the reporting period.
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