GTI Resources picks up more gold ground in the red-hot Kookynie region
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Special Report: GTI Resources (ASX:GTR) will acquire three more prospecting licences — two adjoining its existing Niagara project near Kookynie, and one ~15km to the northwest called the ‘Reach’ prospect.
GTI now holds a contiguous land package covering ~5km of the historical Niagara gold trend, located within the central part of the Norseman-Wiluna greenstone belt.
This newly consolidated and underexplored belt, which hosts numerous historical shafts and workings, represents a huge opportunity for GTI:
There are numerous historical workings on and to the north and south of the project area, including major historical mines like Cosmopolitan, which produced ~300,000 ounces at an average grade of 15g/t gold between 1895 and 1922.
Niagara itself also includes a number of historical mining shafts and shallow workings which were mined during the late 1890s and early 1900s.
But modern exploration has been limited to broad-spaced soil sampling and minor reconnaissance drilling programs. Most exploration work has been undertaken in areas outside the current licence area, GTI says.
As a result, the Niagara project remains essentially untested.
GTI is currently waiting on final data from a recently completed aeromagnetic survey, aimed at defining and mapping potential gold structures for follow-up drilling.
The newly acquired Reach prospect neighbours Genesis Minerals’ (ASX:GMD) +1 million ounce Greater Ulysses project.
At Reach, previous exploration (including RC drilling) identified anomalous gold associated with the historical workings and outcropping quartz veining.
These shallow historical shafts and workings extend along the strike of the quartz vein for approximately 100m.