Mt Celia - Au

    The Mt Celia stratigraphic corridor is a highly prospective lineament that extends for over 18km. From the Deep South mine it extends south southeast and is very poorly explored. Over the last three years Saracen has been extremely active in the corridor completing extensive field mapping, biogeochemical and maglag multi-element analysis, bottom of hole XRF analysis, a detailed gravity survey, tromino passive seismic surveys and sub-audio magnetic surveys (SAM). Following the SAM survey in 2014, 9 RC holes were drilled into modelled EM plates which returned very positive results 2m @ 7.99g/t, 2m @ 7.52g/t and 1m @ 13.1g/t. These results have not been followed up to date. Collation of all the exploration work completed in the last three years has prioritised a number of key targets.

    The Far South target is the most advanced with 9 holes sparsely drilled in 2014. The 4km of strike length was covered by the SAM survey, which revealed accurately the position of the key stratigraphy. Due to the limited greenfields budget during FY15 and FY16, the results previously mentioned have not been followed up. Given the success of the first pass program which targeted very specific EM anomalies, the current plan for FY17 is to systematically test the stratigraphy which hosts the Deep South deposit.

    Further south is the Casper prospect which is focused on the same stratigraphic unit, where it wraps around a granitic intrusion. The intrusion provides a buffer to the regional deformation, which is likely to have caused a low strain zone conducive to dilation. The local deformation around the intrusive also appears to have caused a series of tight folds which are evident in the magnetics. Historical RAB drilling is on 1km spaced lines and did not adequately test the key stratigraphy. Systematic aircore drilling will target an alteration system to further refine the target.

    The southernmost target, Banquo, is largely conceptual; however the empirical evidence is such that it warrants further investigation. The target lies on the key stratigraphic unit and is coincident with a large gold anomaly identified in the biogeochemical multi-element program. No drilling has occurred in the area, therefore systematic first pass aircore drilling will be conducted to identify the lithostratigraphy and any alteration systems present.