GTI secures extension for Niagara as it prepares for further gold exploration
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Special Report: GTI has secured a five-year extension for its Niagara project in Western Australia and is waiting on final data from a recently completed aeromagnetic survey.
The company now has until May 2025 to carry out exploration at Niagara and is also waiting on the grant of four prospecting licences.
GTI Resources (ASX:GTR) said that flying of the survey, which was aimed at defining and mapping potential structures associated with gold mineralisation in the Kookynie region, was completed last week and results were expected within the next 10 days.
The Kookynie region has seen some exciting results from drilling carried out by Metalicity (ASX:MCT), which intersected high-grade gold of up to 4m at 104.8 grams per tonne gold from a depth of 36m outside of previously developed and drilled areas.
Processing and interpretation of the survey data will help GTI refine a follow-up field program that is likely to include additional infill auger soil sampling and group mapping to aid in drill targeting.
The company has already identified a number of gold-in-soil targets in the north-eastern corner of the licence, with the anomaly lying on a similar orientation to other known gold mineralisation within the district.
GTI’s Niagara project is just 6km southwest of Kookynie in WA’s Central Goldfields region within the central part of the prolific Norseman‐Wiluna greenstone belt.
Numerous historical workings occur within and to the north of the project area, with a number of major historical mines located in the immediate vicinity of Kookynie.
This includes the Cosmopolitan mine within Metalicity’s ground that produced 360,000 ounces of gold at an impressive head grade of 15 grams per tonne (g/t) between 1896 and 1922.
The four new prospecting licences include a number of historical mining shafts and shallow workings that were mined during the late 1890s and early 1900s, while a number of small-scale workings and historical shafts are located within the existing licence.
GTI says the Niagara project remains essentially untested as previous exploration was limited to broadly spaced soil sampling and limited reconnaissance drilling.