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Australia

Boundary Breccia Zone
Boundary Breccia Zone

Queensland Gold Investments Limited (QGIL) a wholly owned subsidiary owns the Homestead Project consisting of four mining leases covering 320 hectares located on the western edge of the Charters Towers Gold Field. The claims are approximately 70km west of Charters Towers in North Queensland, Australia, and some 10km due north of the railway and main highway between Townsville and Mount Isa.

The property is 100% owned by QGIL and subject to a 1% royalty on any production. This royalty is in addition to any that may be imposed by the State.

Results from exploration by QGIL indicated that further drilling will be required at Homestead. As a first priority step out holes will be required to evaluate the mineralization encountered in

  1. Boundary Breccia Zone (H08-14, 18m at 1.06g Au/t) and
  2. Deadman Creek Contact Zone (H08-07, 12m at 0.91g Au/t and H08- 08, 12m at 0.49g Au/t; H08- 17, 1.0m at 13.6g Au/t and 7.6m at 0.61g Au/t).

The mining leases expire on 30th June 2010 but can be renewed. Discussions concerning the procedures and requirements to renew the leases have commenced with the local office of the Queensland Department of Mines and Energy. Data to support the applications for renewal have been lodged.

Brick Measurement
 
Men working on a construction site
 

 

200 OK

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