Gladstone Gold Project 

Tenements in this area cover old gold mines and exploration targets that show promise due to technological advances in mineral processing. The area contains 5 old gold mines along a 10 kilometre strike length. These mines ceased work early last century due to either water inundation or the operator’s inability to process the ore, in many cases with high grades up to 90 grams per tonne.

The origin of the gold was recently discovered to be associated with a particular granite.  The tenements secure 50 kilometres of the contact between this granite and the gold hosting Mathinna sedimentary sequence.  Sedimentary rocks similar in age to the Mathinna Group also host the Beaconsfield Gold Mine (a deposit of 3.07 Mt @ 20g/t gold*) further to the west, though MHM believes the mineralisation style in the tenement area would support open-pit processing.

* Mineral Resources Tasmania 2005 “Mineral exploration opportunities in Tasmania: A summary of opportunities for mineral exploration and mineral resource development in Tasmania”