Reedy South Gold Project (100%): The Project covers 272km2 of the highly prospective Cue goldfields, centred on the southern portion of the prolific Reedy Shear Zone, within the Meekatharra-Wydgee greenstone belt. The Project comprises one granted mining lease (M20/446) covering the historic underground workings of Pegasus and King Cole, a granted exploration and prospecting license (E20/938 & P20/2289) and four exploration license applications (E20/969, E20/971, E20/972 & E20/974). Reedy South is situated 40km north of Cue, via the Great Northern Highway and is 80km south of Meekatharra.
On 29 October 2020, the Company announced a maiden JORC mineral resource estimate (MRE) for the Reedy South Gold Project. The maiden MRE consisted of 779,000 tonnes at 1.7 g/t Au for 42,400 ounces, including:
– 6,600 ounces of Indicated Resources; and
– 35,800 ounces of Inferred Resources
Given the average depth of drilling to date is ~60m, this warrants immediate drilling to test depth and strike extensions of the current prospects on completion of the maiden MRE.