RooGold secures land access to Gold Belt and Gold Star, its top 2-ranked properties in New South Wales

2022.04.15

Coming off a series of property transactions last year and name change (formerly JNC Resources), RooGold Inc. (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) is uniquely positioned to be a dominant player in New South Wales through a growth strategy focused on the consolidation and exploration of precious metals properties in this prolific region of Australia.

To build its portfolio, the company has adhered to the following criteria:

• Properties with limited historic exploration.
• Deposit types controlled by regional structures and contacts.
• Targets underpinned and outlined by historical mining activity.
• High-grade precious metal mineralization.

Through its acquisition of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold now commands a portfolio of 13 gold and silver concessions that spans a total area of 1,380 square km, and is home to 137 historic mines and prospects.

Mineralization across all these properties is associated with significant, largely untested regional structures or contacts, on which gold and silver endowment is underpinned by historical mining activity, thus providing excellent discovery potential.

ROO currently has nine gold properties covering a total of 1,091 km² and 106 historic gold mines and prospects, 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 Peel-Manning suture zone.

Roogold has the following 9 gold properties in its portfolio:

Goldstar — 6 historic silver/gold mines and prospects. Much of the property is unexplored. Mineralization is of a low-sulfide orogenic quartz type associated with regional structures, also analogous to the West African and Abitibi-type styles.

Gold Belt — 20 historic gold mines and prospects across the significantly gold-endowed Peel-Manning fault. Two parallel gold-controlling regional fault systems have been identified on the property, forming two significant gold-mineralized corridors with a total strike length of over 7 km. Potential exists for listwanite-hosted gold deposits of the Bralorne and Motherlode types.

Trilby — A 35-km strike length of the Peel-Manning Fault zone hosts numerous quartz veins with visible gold. The Peel Manning Fault Zone is a crustal suture zone with ophiolites and abundant gold alluvial deposits, indicating potential for listwanite-hosted gold deposits.

Lorne — 28 historic gold mines and prospects, including the historical Golden Star mine. It also covers up to 500m of underground workings at the historical Marquis of Lorne mine, which had reported grades of up to 15 g/t Au. The project area spans 12 strike kilometers of the significantly mineralized regional Peel-Manning fault system.

Malebo — 5 historic gold mines and prospects. Historic rock-chip grab sampling of the Malebo mine returned assays up to 71 g/t Au. Mineralization is of a low-sulfide orogenic quartz type associated with the regional Narriah Fault, potentially analogous in geology and structure with the Mount Adrah deposit 50 km to the east.

Eastdowns — 10 historic gold mines and prospects. Historical records from small-scale production cite grades of up to 384 g/t Au. Mineralization is associated with a sedimentary-intrusive contact zone with a target zone that is several hundred meters wide and over 1 km long.

Bluebell — 9 historic gold mines and prospects immediately north of the Victorian border. Mineralization is a sulfide-poor orogenic type. Small-scale historical production had reported assays of up to 87 g/t Au.

Solomons — 11 historic silver/gold mines and prospects with reported production grades of up to 132 g/t Au and 1,648 g/t Ag. Mineralization is probably associated with numerous low-sulfidation epithermal veins related to regional northeast-southwest-oriented structures.

Dingo — 17 historic gold mines and prospects including the Golden Star mine. Mineralization is of a low-sulfide orogenic quartz type associated with regional structures, analogous to the West African and Abitibi-type styles of mineralization.

Of these 9 gold concessions, the three located on the Peel Manning Fault Zone (Trilby, Lorne and Gold Belt) are considered to be priorities.

Together, they form the company’s Peel Manning property, a district-scale land position totalling 422 km² that includes 48 historical gold mines and prospects with average historical production grades of up to 83 g/t Au.

The Peel Manning Fault system is a crustal scale structure that is strongly gold mineralized along its 350 km strike length. The system hosts ocean floor mafic and ulltramafic rocks present as listwanite (quartz-carbonate) altered serpentinites.

Listwanite-associated gold deposits are considered to be highly attractive exploration targets. Multi-million ounce deposits such as the Californian Motherlode deposit, Bralorne (British Columbia) and numerous large high-grade gold systems throughout the shield area of Saudi Arabia are hosted in listwanites.

Newmont has recently staked a 1,200 km² land package covering 125 km strike length of a parallel structure, 30 km to the east of the Peel Manning Fault Zone.

The gold mining giant, recognizing that these regional structures are fundamental to mineral deposit formation and thus highly prospective, mainly staked areas under shallow surface cover, lacking historic production on and anomalism due to other licences already being taken.

ROO’s Peel Manning property covers over 30 km of untested strike of highly prospective gold-endowed Peel Manning structure, encompassing two significant undrilled gold trends measuring over a 7-km strike length.

The historical Marquis of Lorne mine, which includes a non-compliant historic reserve of 50,000 ounces Au, is on the property.

Exploration plan

ROO’s initial exploration focus will be on the high-priority Peel Manning gold and Castle Rag silver properties.

The remaining properties will be evaluated and developed according to a five-stage exploration plan, as described below:

1. Historic data compilation and modernization — Compile and digitize historic datasets and mine records into a comprehensive GIS database, translating and modelling historic deposits and mines into 3D where appropriate.

• Remote data acquisition and target generation — Acquisition of high-resolution satellite, DTM and geophysical datasets for select properties to better define historic prospects, assist geological and structural mapping, extend potential deposit footprints and identify new prospective anomalies.

• Field-based target delineation and development — Extensive geological mapping is planned, focused on delineating and developing historic mines, prospects and areas of interest outlined from desk-based work. Surface and UG rock chip sampling will be used to confirm historic assay results and test mineralized exposure, deposit extensions and new targets identified by stages 1 and 2.

• Drill planning — Targets will be assessed and ranked for drilling suitability based on risk-reward scale. Targets will be modelled in 3D to optimize drill targeting beneath high-grade ore zones identified from UG and surface sampling.

• Execution of targeted drill programs alongside ongoing project development — Targeted RC drill programs will be completed across the highest priority targets highlighted by all previous exploration activities.

One of the most important aspects of exploration is land access. Unlike say, working in Canada or the United States, where the exploration window is limited due to long winters, in New South Wales the access is year-round.

In a recent interview, RooGold Director Chris Wilson told me, “As to getting the access, it’s not going to be instant, it’s going to take hard work, it’s going to be a bit of a grind. But people can be quite dismissive about it saying, ‘oh well you haven’t got access to here or there.’ Well I say what would you prefer? Having us work through a couple of weeks of talking to receptive landowners to drive with a 4WD out to somewhere in NSW where you can walk around, or having a six-month window dealing with six government agencies and first nations, and having to do everything in a summer only season from a helicopter up in the north of Canada or Alaska.”

He added:

“So having selected Australia as a safe, and a logical place to be, NSW stood out as somewhere you could assemble this package of ground, the diversity of deposit type, high-grade gold and silver, enough space to swing a cat and make a discovery. This was a concept that’s been 25 years in the making. I think NSW is increasingly going to be a place where companies will deploy money.

“A little bit of patience is required from shareholders but it will all fall into place. And as our access comes we’ve got this huge landholding, with things sticking out of the ground that desperately need a look.”

RooGold recently signed land access agreements at Gold Belt and Gold Star, its top 2-ranked concessions that cover numerous historical gold working located adjacent to the Peel Manning Suture Zone, which Wilson described below.

Details include a land access agreement (LAA) with NSW Forestry allowing prospecting within forested areas at Gold Belt; and an LAA with a landholder to allow prospecting at the northern end of Gold Star.

“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. We were able to stake free ground along the Peel Manning suture and associated splays. In total we acquired 5 concessions, each with historical workings which had targeted high grade quartz lodes. We have a sixth concession under application.

“So we’ve got a fairly commanding package out there. It was really these things that drove us, we wanted to be on these big structures, we wanted to try and consolidate land within those areas, and that’s what we did.”

According to RooGold, landholder negotiations are continuing at its other properties including Trilby and Lorne, with sampling to begin shortly at the historical mine workings.

“Obtaining land access at Gold Belt and Gold Star is a key step in the progression of Roo Gold’s exploration work. Access has been granted over key areas of historic gold mining activities. Exploration reconnaissance work will commence soon,” Carlos Espinosa, RooGold’s Chief Executive Officer, said in the March 29 news release.

Conclusion

The initial exploration plan will require a total expenditure of CAD$2.5 million, with a large chunk of that ($2 million) going towards RC drilling and ongoing project review/development. The remaining $500,000 will be allocated to the first four stages.

To fund its exploration activities, RooGold successfully secured in October a first tranche financing of $2.63 million. The net proceeds will be used for Phase 1 exploration of its Australian properties.

The company is also looking to spend at least another $1.6 million during Phase 2 exploration, which could bring the financing total up to $5 million.

RooGold Inc.
(CSE: ROO) (OTC PINK: JNCCF) (Frankfurt: 5VHA)
Cdn$0.13, 2022.04.13
Shares Outstanding 69.7m
Market cap Cdn$7.6m
Roo Gold Inc

Richard (Rick) Mills
aheadoftheherd.com
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