Midas – Copper/Gold (100%)

Project Overview

The Midas Copper-Gold Project consists of two wholly owned licenses, Table Top and Coolbro Creek on E45/5107 and E45/5112.

Table Top Tenement E45/5107

The Table Top tenement (E45/5107) has surface geology which is approximately 80% outcrop, predominantly comprising Meso to Neoproterozoic Coolbro Sandstone with minor remnant Permian Paterson Formation. The Coolbro Sandstone forms the basal unit of Yeneena Basin which overlies Paleoproterozoic granitic gneisses (orthogneisses) and metasediments (paragneisses) of the Rudall Complex (Williams and Bagas, 1999). The Yeneena Basin-Rudall Complex unconformity is exposed near the Kintyre deposit and doesn’t outcrop within E45/5107.

Multiple orogenic events have resulted in complex folding of the Proterozoic sequences (Hickman and Bagas, 1999). Mapped structures within E45/5107 are generally NW- to NNW-trending (sub-parallel to the major Southwest Thrust located immediately to the west of E45/5107) with some minor N-S faults. A 2015 Southern Geoscience interpretation has identified 5 gold targets within E45/5107.

Historically, gold has been recorded in stream sediment samples around Coolbro Creek and in rock-chip samples at Table Top. At Table Top historical mapping indicates quartz filled fracture systems over 3 km in length. The results of this historical work need to be validated by a site visit.

Tenement E45/5112

E45/5112 covers most of the McKay Ridge Dome and hosts important Yeneena Supergroup sediments the focus of SEDEX style and structurally controlled components of the Telfer, Nifty and Maroochydore Gold/Copper/Cobalt deposits. Dome structures also may provide a source and or a heat engine for mineralising fluids. The sequence appears to be an antiformal dome exposing the Rudall Metamorphic Complex at its core, flanked by Yeneena Group sediments (Throssell Range Group) and then younger sediments still of the Officer Basin (Tarcunyah Group). The tenement is proximal to the major NW regional structure (MacKay Fault; also named as the Southwest Thrust on other maps).

E45/5112 is largely under-explored.

Midas Cu Au Project location (E45/5107 and E45/5112) to significant projects in the Paterson Province overlying the regional airborne RTP magnetics.

Airborne RTP magnetic with 2015 Southern Geoscience area of interpretation covering the Table Top and Coolbro Creek prospects within E45/5107. 5 targets were generated from the 2015 report.

GSWA interpreted bedrock geology of the McKay Range tenement E45/5112, overlain on RTP 1VD magnetics.