Burbanks Gold Project
The Burbanks Project is located 9km southeast of Coolgardie, Western Australia. The Project includes the Burbanks Mining Centre and over 5km of the highly prospective Burbanks Shear Zone, historically the most significant gold producing structure within the Coolgardie Goldfield.
The Burbanks Mining Centre comprises the Birthday Gift and Main Lode Gold Mines (Figures 1 & 2). The recorded historic underground production at Burbanks (1885-1961) totalled 444,600t at 22.7 g/t Au for 324,479oz predominantly from above 140m below the surface. Intermittent open pit and underground mining campaigns between the early 1980’s to present day has seen total production from the Burbanks Mining Centre now exceed 420,000oz.
In March 2018, Barra updated its Gold Strategy based on a newly defined Exploration Target. The Exploration Target for Burbanks is now identified as 223,000 to 564,000 ounces of gold (Table 1, The potential quantity and grade of the Exploration Target is conceptual in nature as there has been insufficient exploration to estimate a Mineral Resource beyond Birthday Gift. It is uncertain if further exploration will result in an estimation of a Mineral Resource.
Table 1: Burbanks JORC 2012 Exploration Targets and Mineral Resource
The Exploration Target is inclusive of the previously announced JORC 2012 compliant Mineral Resource Estimate of 125,300 ounces of gold at Burbanks (Table 2, refer to ASX:BAR announcement for full details of the Mineral Resource)
Table 2: Burbanks Deposit Mineral Resource
The Burbanks Exploration Target was arrived at after evaluation of historic and current exploration drilling and mining datasets including geological and resource modelling, aeromagnetic, new mapping, auger geochemistry, conceptual exploration models and recent mine production data. The information gathered was used to estimate average grades, typical dimensions, average bulk densities, and possible frequency of lode occurrences to estimate the likely ranges of the magnitude of possible extensions to known lodes and repetitions within the same geological domain, limited to a nominal depth of up to 500m.
Key target areas were identified, ranked and prioritised. This then fed into the development of a long-term strategy to explore these key target areas with a clear focus on the discovery, delineation and delivery of resources to underpin the establishment of a medium- to long-term mining operation.
Barra has a plan of ongoing drilling campaigns using air core, reverse circulation and diamond drilling methods to test these targets followed by Mineral Resource estimation where appropriate over the next four years as market conditions allow.
Figure 1 – Geology and Deposit locations at Burbanks
Figure 2 – Long Section of the Burbanks Deposits