The Phillips Find Mining Centre is geologically located within a regional fold hinge and contains regionally prospective lithologies. Open pit mining proves the presence of shallow, high grade gold mineralisation. Understanding the complex geology of the area will be the key making future discoveries. The company is currently focused on growing and developing potential underground resources at the Phillips Find Mining Centre.
In January 2013 Barra entered into a Right-to-Mine agreement with Blue Tiger Mining Pty Ltd (Blue Tiger). Blue Tiger completed stage 1 of open pit mining of the Newminster deposit in February 2013. A total of 53,986t @ 2.7 g/t Au was mined for 4,331oz. A stage 2 cutback was delayed due to the fall in the gold price.The successful stage 1 mining of Newminster has added confidence in the current resource in addition to providing access (through fresh rock) for potential underground development.
Barra hopes to exploit the remaining resource via a future cut-back of the existing pit and by underground mining methods. The Newminster resource remains open at depth with the potential to increase with additional drilling.
Mining by Barminco of the Newhaven deposit produced 41,974t @ 3.9g/t Au for 5,269oz. The deposit remains opens at depth. Significant mineralisation remains immediately below the current surface with potential for a cut-back of the existing pit. It is assumed that mining in conjunction with other operations will deliver significant cost benefits.
The Diablo deposit comprises a single quartz lode of 1 to 3m width and 55m strike length within altered and sheared felsic volcanic rocks. The geometry is sub-vertical with high-grade mineralization developed within a zone of dilation which plunge’s steeply to the north. A gold depletion zone exists to 30m below the surface, mineralisation is open down plunge.
A JORC 2004 Inferred Mineral Resource of 8,480t @ 13.7 g/t Au for 3,740oz has been estimated.
Potential exists for further high grade pods within the Diablo-Bob Hope structural corridor.