Tibooburra Gold Project

Tibooburra Gold Project

New South Wales, Australia

The 2,200 km2 Tibooburra Gold Project comprises a land package covering ~220km of significantly under explored gold mineralised strike of deep-seated gold bearing structures associated with the Koonenberry and New Bendigo Regional Fault Structures within MHC’s 100% controlled tenure. The contiguous land package of eleven granted exploration licences and four exploration licence applications are located approximately 200km north of Broken Hill. The project stretches 160km south from the historic Tibooburra townsite and incorporates a large proportion of the Albert Goldfields, ), along the gold-anomalous New Bendigo Fault, to where it merges with the Koonenberry Fault, and then strikes further south on towards the recently discovered Kayrunnera gold nugget field. The area is conveniently accessed via the Silver City Highway, which runs N-S through the project area.

Project Highlights

  • District Scale 2,200 kmstrategic land holding in the emerging Koonenberry Gold District
  • 220km gold strike extent
  • Mineralisation styles and structural development in the Tibooburra Goldfields are remarkably similar to the Victorian Goldfields in the Western Lachlan Orogen
  • Underexplored Goldfield with Multi – Million ounce potential
  • Drilling has intersected significant mineralisation – Best gold drill intersections reported from the Koonenberry region to date
  • Numerous historical shafts and historical mines and workings within MHC’s tenements have no drill testing
  • Southern targets contain an area of 80km of deep seated structured fault systems

Drill Programme

Drilling is currently underway at the Tibooburra Project with the programme being significantly expanded to a further 10,000m of RC drilling over multiple campaigns running until mid- 2022. Drilling will continue to focus on extensions to the mineralised system and the interpreted north plunging shoots at depth, drilling has been extended to include further RC drilling and diamond drilling at depth (>100m). Diamond drilling is scheduled to commence after the current RC programme all within the currently defined mineralised corridor.

Latest Drilling Results

In March 2022 the Manhattan announced that Fourteen (14) Reverse Circulation Drill (RC) Holes and one diamond precollar were completed for 1,795 metres at the high grade New Bendigo “Main Zone” which lies within a 25km gold mineralised strike in the northern part of the Tibooburra Gold Project. Drilling targeted additional mineralisation and the north plunging shoots along the “Main Zone” corridor, a NNW trending gold mineralised shear system that extends for over 650 metres of strike that is located within an under explored elongated >5km long soil anomaly where historic workings extend over at least 1.5 km of strike.

Drilling has continued to successfully intersect significant shallow gold mineralisation within the corridor, often from or near surface. Further high-grade mineralised zones are thought to form two separate north plunging shoots located to the north and south of a cross-cutting faultDrilling will continue to test the extents of the “Main Zone” mineralised system which has the potential to host a significant shallow, high-grade gold resource

Drilling returned significant mineralisation, including:

  • 63m at 1.33 g/t Au from 24m (NB0105), including
  • 14m at 4.77 g/t Au from 52m, or
  • 9m at 7.22 g/t Au from 56m and
  • 1m at 10.30 g/t Au from 76m
  • 17m at 1.13 g/t Au from 4m (NB0093), including
  • 4m at 2.42 g/t Au from 6m
  • 3m at 4.51 g/t Au from 9m, (NB0106) and
  • 2m at 3.90 g/t Au from 126m
  • 2m at 3.18 g/t Au from 82m (NB0098)
  • 2m at 4.08 g/t Au from 84m (NB0102)
  • 24m at 0.52 g/t Au from 47m (NB0094)
  • 9m at 1.06 from 58m
  • 150m at 0.27 g/t Au from Surface, including
  • 3m at 4.51 from 9m (NB0106)
  • 6m at 1.93 g/t Au from 12m (NB0090)

This is in addition to the recently reported results from drilling completed in 2021, that included:

  • 8m at 40.5 g/t Au from 70m, including 3m at 105.34 g/t Au (NB0089)
  • 16m at 13.89 g/t Au from 1m, including 3m at 69.20 g/t Au (NB0083)
  • 7m at 2.89 g/t Au from 56m, including 1m at 15.45 g/t Au (NB0088)
  • 30m at 4.03 g/t Au from 11m, including 5m at 20.86 g/t Au (NB0033)

Further to the high-grade central zone and the interpreted plunging shoots, drilling again successfully expanded the mineralised footprint within the broader gold mineralised halo of the NNW trending regional shear with all RC holes reporting significant mineralisation.

2022 Drilling Programme

Further to the planned drilling at “Main Zone”, Manhattan will also target High Grade prospect areas along the northern 25km mineralised strike including:

  • Western Lode – where RC drilling completed in 2020 returned 7m at 18.16 g/t Au from 87m (NB0023)
  • New Bendigo South – which lies ~ 600m on strike south of the “Main Zone” where scout drilling last year returned 12m at 1.14 g/t from surface (NBAC0103), intersecting a potentially new zone of gold mineralisation that is yet to be followed up
  • Clone Prospect – which lies 8km north of the “Main Zone” and hosts extensive deep historical gold workings, over ~450m strike and up to >25m deep, similar structural and lithological analogue to “Main Zone” and has never been drill tested
  • Pioneer and Phoenix – located ~18km north of the “Main Zone” hosts historical gold workings over 5km of strike, Home to a historic gold stamping battery (Pioneer), where limited historic drilling returned 3m at 4.89 (AWNPN02A) and 2m at 14.72 (TP003A) g/t

Northern Exploration Targets

Clone

  • Extensive deep historical gold workings over ~450m Strike and up to >25m deep)
  • Similar structural and lithological analogue to “Main Zone” at New Bendigo

Pioneer and Phoenix

  • Historical gold workings over 5km of strike
  • Home to a historic gold stamping battery (Pioneer)
  • Limited drilling returned 3m at 4.89 (AWNPN02A) and 2m at 14.72 (TP003A) g/t Au in diamond and RC drilling respectively

Elizabeth and Pioneer

  • Untested smaller reef systems identified with no drill testing, including Rosemount (> 200m strike) and Elizabeth (NW of Pioneer – two historic reefs ~200m of strike)

Untested Southern Targets

Mongrel

  • 8km of surface anomalism in limited geochemistry coinciding with multiple high priority intersecting structures over the extent of the anomaly and associated with quartz reefs and quartz veined hydrothermal breccias at surface
  • No drilling completed to date

Fold Nose

  • Series of Anticlinal fold closures with magnetic sediments, associated with and intersected by regional scale faults and shears
  • Demagnetisation evident within the closures, indicating a potential mineralising event (sulphidation)
  • Similar structural analogy to Sunrise Dam (>10Mozs Au) Laverton WA

Koonenberry & North Gap

  • Convergence and divergence of the main fault systems over ~20km
  • No systematic exploration completed to date, shallow workings present, sporadic rock chip sampling has returned up to 7.6 g/t Au
  • No drilling completed to date

Fault Spray

  • High Priority target where the deep-seated mantle tapping regional Koonenberry and New Bendigo faults converge
  • Untested large dilatational zones established that are favourable for gold accumulation
  • No drilling completed to date

 

Mining History

Auriferous quartz vein networks and alluvial deposits that shed from them, were mined in shallow pits, shafts and adits by early prospectors between 1881 and 1901. Over 1,700kg of gold was extracted, mostly from alluvial and eluvial deposits. Despite the rich rock-chip gold assays and overall historical mining grades of over 20g/t Au, the primary ore systems have rarely been tested below the water table (approx. 60m). Only sporadic exploration has been conducted since the abandonment of the goldfield in 1901, with undercover exploration utilising the high-quality geophysical datasets of the Geological Survey of NSW (”GSNSW”) now being possible.

Similarities to the Victorian Goldfields

After a detailed study of the Tibooburra District, GSNSW geoscientists (Greenfield and Reid, 2006) concluded that ‘mineralisation styles and structural development in the Tibooburra Goldfields are very similar to the Victorian Goldfields in the Western Lachlan Orogen’. In their detailed assessment and comparison, they highlighted similarities in the style of mineralisation, mineral associations, metal associations, hydrothermal alteration, structural setting, timing of metamorphism and the age of mineralisation, association with I-type
magmatism, and the character of the sedimentary host rocks. Mineralisation in the Tibooburra Goldfields is classified as orogenic gold and is typical of turbidite-hosted/slate-belt gold provinces (Greenfield and Reid, 2006).