Cape Coal was granted an exploration permit for minerals by the Department of Natural Resources and Mines on the 8th of December 2015 (EPM 25956). The 36 square kilometre project is located 700km northwest of Brisbane and 15 km west of the town of Capella.
The basement rocks in the project area consist of Bathampton Metamorphisis, a subdivision of the Anakie Metamorphics. The units consist dominantly of quartz-mica schist and phyllite, with subordinate quartzite, amphibolites and calcsilicate rocks. The mineralisation displays features typical of epithermal gold deposits in volcanic rocks (Cooper, 1995).
The tenement hosts amongst others a 10 x 2.5m outcrop of quarts veined ignimbrite, named Ayers Rock. Historic exploration activities by Billiton, Southern Goldfields and Australian Gold Fields were concentrated around this area where the best results recorded were:
- Drillhole ARC 009 to a depth of 52m indicated 32.8 g/t Au between 22 and 24 meters and 18.9g/t Au between 50 and 52 metres.
- A soil sample east of Ayers Rock, indicated lab results of 273 ppb Au, Ag at 20 ppm and Pb at 595 ppm.
- Rock chip samples indicating up to 4g/t Au.
- Further shallow drill holes with 2m intersections up to 2.56g/t Au.
Significant amounts of exploration data have been obtained and are currently being consolidated into a new model to assist in identifying further targets and an appropriate exploration plan.
