The New England Orogen is a significant mineral province that forms the basement of the northeast portion of New South Wales, Australia. The presence of alluvial gold fields, the large number of historical underground mines, and the variety of terranes (crust fragments), all indicate that the area is highly prospective for gold and silver discoveries.
Major past deposits include Hillgrove, Mount Morgan (>7Moz) and Gympie (>3Moz), the latter two being in neighboring Queensland to the north. Significant gold resources have been recently discovered at Gympie, Cracow, Tooloom and Mount Rawdon.
By Australian standards, a large part of NSW’s metallogenic belts are relatively unexplored. Highly prospective ground, most with high-grade previous showings, remains available for further exploration.
The significant number of strategically located exploration licences has attracted a wave of gold explorers, including Canadian junior RooGold Inc. (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA).
ROO is uniquely positioned to be a dominant player in New South Wales through a growth strategy focused on the consolidation and exploration of highly mineralized precious metals properties in this prolific region of Australia.
To build its portfolio, the company has adhered to the following criteria:
RooGold has four silver properties covering 289 km² and 31 historical gold-silver mines and prospects, all located within the New England Orogen.
They remain largely underexplored since their discovery in the early 1900s. Several styles of mineralization are present, including intrusion-related vein stockwork targets and low-sulfidation epithermal types.
Tucked into the northwestern part of the New England Orogen, the 42-square-km Arthurs Seat project is characterized by intrusion-related mineralization with multiphase quartz-tourmaline stockworks and polymetallic Au/Ag rich veins.
The project hosts three historical silver-tungsten- antimony mines and prospects, including the Murrays and Co mine, which returned chip samples grading over 1,200 grams per tonne Ag. Murrays and Co was mined in the late 1890’s, including development of underground adits and shafts driven into silver- and tin-rich quartz and tourmaline veins.
The property, also known as Exploration License (EL) 9144, is centered on the regional Severn Thrust Fault and mineralized granitic/sandstone contact. The fault potentially represents a 7-kilometer long underexplored target.
This week, RooGold announced the completion of a preliminary rock chip sampling program at Arthurs Seat, that yielded robust assay results up to 4 ppm (grams per tonne) Ag (silver).
A total of 274 rock chip samples were collected at historical prospects and along structural and geological contacts, from which 159 samples were sent to the lab for analysis. The samples feature significant hydrothermal alteration with multiple quartz veins visible. According to ROO, the assay results received to date indicate widespread, low-level mineralization along greisen-altered granite-metasediment contacts and confirms the presence of a large hydrothermal mineral system.
Of the 159 samples, 154 returned anomalous silver ranging from 0.01 ppm Ag to 4 ppm Ag (see Figures 1 and 2).
The highest-grade results were concentrated in the greisen-altered granite-hosting quartz veins. The best was 4.0 ppm Ag, 3,210 ppm As, 4.93 ppm Sb. 3.8 ppm W and 223 ppm Bi. The highest-grade gold sample was 0.11 ppm Au, 5.03% As, 165 ppm Bi, and 2.36 ppm Ag, from a highly sheared mafic rock.
“RooGold has completed a successful, first pass rock chip sampling program at the Arthurs Seat Project, New South Wales. Preliminary assay results have been received and confirm low-level, widespread silver-antinomy geochemical anomalism within the project,” said RooGold’s CEO Carlos Espinosa, in the June 23 news release. “Our field geologists have identified multiple sets of quartz veins at key prospects containing silver-antimony minerals and we look forward to receiving further assay results in the near term.”
Assay results are pending from the remaining 115 samples collected at the Murrays and Co mine and McDonalds prospect.
The promising rock chip sample assays at Arthurs Seat are the second piece of good news from RooGold in recent weeks.
In May, ROO acquired another exploration license in the highly prospective Peel Manning Suture Zone of the New England Orogen in New South Wales. It now commands a portfolio of 14 gold and silver concessions, spanning a total area of 1,537 square km, and home to 139 historical mines and prospects.
The Glenrock project spans 229 square kilometers and is positioned between RooGold’s Lorne and Gold Belt projects. Between them, the three projects encompass 435 km², over a 65-km-long strike within the Peel Manning Suture Zone — well known to host precious and base metal mineral deposits.
After reviewing Glenrock’s historical data, and following land access negotiations, RooGold plans to undertake field reconnaissance and rock chip sampling to identify explorations targets at the new property.
With the Glenrock project, ROO now has 10 gold properties, all located within the highly mineralized but relatively underexplored New England Orogenic Terrane and prolifically mineralized Lachlan Orogenic Belt.
The mineralization is mostly of an orogenic type associated with large-scale structures, making for large attractive targets and lesser intrusion-related types. There is also potential for listwanite-hosted gold mineralization of the Bralorne and Motherlode type along the regional Peel Manning Suture Zone.
As RooGold’s technical advisor Chris Wilson puts it, “The Peel Manning Suture Zone in the New England Orogen has shed over a million ounces of alluvial gold. You have quartz-carbonate altered ophiolites as is the case at Motherlode and Bralorne. All the hallmarks of a very fertile system.”
(CSE: ROO) (OTC PINK: JNCCF) (Frankfurt: 5VHA)
Shares Outstanding 69.7m
Market cap Cdn$2.9m
Ahead of the Herd newsletter, aheadoftheherd.com, hereafter known as AOTH.
Please read the entire Disclaimer carefully before you use this website or read the newsletter. If you do not agree to all the AOTH/Richard Mills Disclaimer, do not access/read this website/newsletter/article, or any of its pages. By reading/using this AOTH/Richard Mills website/newsletter/article, and whether you actually read this Disclaimer, you are deemed to have accepted it.
Any AOTH/Richard Mills document is not, and should not be, construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment.
AOTH/Richard Mills has based this document on information obtained from sources he believes to be reliable, but which has not been independently verified.
AOTH/Richard Mills makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness.
Expressions of opinion are those of AOTH/Richard Mills only and are subject to change without notice.
AOTH/Richard Mills assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission.
Furthermore, AOTH/Richard Mills assumes no liability for any direct or indirect loss or damage for lost profit, which you may incur as a result of the use and existence of the information provided within this AOTH/Richard Mills Report.
You agree that by reading AOTH/Richard Mills articles, you are acting at your OWN RISK. In no event should AOTH/Richard Mills liable for any direct or indirect trading losses caused by any information contained in AOTH/Richard Mills articles. Information in AOTH/Richard Mills articles is not an offer to sell or a solicitation of an offer to buy any security. AOTH/Richard Mills is not suggesting the transacting of any financial instruments.
Our publications are not a recommendation to buy or sell a security – no information posted on this site is to be considered investment advice or a recommendation to do anything involving finance or money aside from performing your own due diligence and consulting with your personal registered broker/financial advisor.
AOTH/Richard Mills recommends that before investing in any securities, you consult with a professional financial planner or advisor, and that you should conduct a complete and independent investigation before investing in any security after prudent consideration of all pertinent risks. Ahead of the Herd is not a registered broker, dealer, analyst, or advisor. We hold no investment licenses and may not sell, offer to sell, or offer to buy any security.
Richard owns shares of Roo Gold (CSE:ROO). ROO is a paid advertiser on his site aheadoftheherd.com