PALEOGOLD
AUSTRALIAN PUBLIC COMPANY TAKING ADVANTAGE OF NEW TECHNOLOGY
ADVANCED Gold Exploration targeting shallow gold deposits.
LATEST : New Tuckanarra WA Exploration Licence
Paleogold is developing a suite of projects proving up gold exploration targets in the States of Western Australia and now Victoria that have the potential to deliver growth for Shareholders, the particular focus being shallow proven resources and paleochannels, the ancient river systems in the goldfields of Western Australia and Victoria.
Targeting Australia’s essentially IGNORED ancient gold river systems.
Paleogold Limited Australian Company Number: 628 139 480
September Update.
In July 2023 we were indeed very fortunate to be able to apply for a new exploration licence north of Cue, WA.
The Mining Registrar has approved our application and recommended it be granted.
This large licence area has been the focus of our attention for some time as it potentially sits south west and over the drainage and hard rock extensions of both the close by Tuckanarra and Reedy goldfields. This ( by comparison) very large area covers some 13 sections and is roughly 10 km’s north to south and 5 kms east west at its widest.
Odyssey Minerals ASX: (our neighbour) have just announced, 2 August 2023, reserves of some 325,000 oz/au. Their tenements are next door and we are downstream of their areas.
In addition we recently drilled (Paleogold owned drill rig & always operated by us) a prospect virtually bordering on our southern boundary and found fine gold in every dish sampled – June 2023. This was not our project however we carried out the drilling survey at Paleogold cost as we had access to a tenement that was directly south of the licence we finally been granted. Further, we completed a radar survey on a mining licence on the NE boundary of our licence area, concentrated on hard rock. So we have had valuable experience very close by. Additionally, PGL has radar surveyed and drilled several prospects not far to the north held by Rumble Resources at Lake Annean.
The directors and consultants highly recommend this major acquisition.
Meanwhile, a new project utilising modern dry-blowing equipment, including ancillary plants such as loaders and high throughput blowers will commence shortly to seek gold nugget concentrations over six large tenements at Cue. POWs have been approved by WA Mines and are current until 2027. These targeted areas are on the west side of Cue and represent near surface gold nugget potential resulting from transported wash historically emanating from the Day Dawn goldfield and the Great Fingal mining region. This is a known nugget area. The plan is to carefully record all gold concentrations by GPS location and with that data look for targets that indicate a sub-surface concentration or even the presence of an as-yet-unknown ore body under cover. The company will share in any resulting production, which is anticipated.
Further, the Chiltern project is discussed below and work continues on the Lake Austin license project.
In addition, the company frequently receives offers of projects, either as a farm-in proposition or for outright purchase. One such offer has been received from an ASX listed company with whom we have previously had an agreement to drill on one of their tenements. As a result, we have good relations with this company, hence the offer to submit an offer. We are, like all offers we receive, proceeding to find ways to finance this exciting and company-making project.
We are working to get Paleogold to production as soon as sensibly possible. We are careful not to invest in projects that do not measure up. We do the work and make sure we have all the data we need to make serious decisions. Technology has enabled us to avoid many traps awaiting small explorers.
I believe we are well placed to make serious advances with an exploration licence that is controlled by the company.
Ian Ennis, Chairman.
Background
Technology has changed the way we search hidden river channels.
GROUND PENETRATING RADAR provides us with realtime underground surveys:
- Fast – easily able to acquire up to 2 kms of underground survey a day with a two-man crew.
- Simple – to deploy and totally portable
- Reliable – below surface graphics available daily.
- Ability – with encouraging graphics we can quickly move up and downstream to fully understand the channel.
- Drill the next day – and with our company-owned drill rig.
- Low cost/high reward gold exploration.
Latest technology deep ground penetrating radar at work.
This new technology exploration methodology put together by PALEOGOLD is an innovative use of technology that is impacting the future of exploration in sediment covered areas and enabling direct detection of paleochannels and other basin-related mineral deposits. Data processing is carried out on a daily basis meaning we can decide daily to either stay and explore the channel or move to a new site.
No holes to dig, no drill holes to manage and no rehabilitation.
Simple logical and effective exploration. We know deposited alluvial gold and understand how to find the best producers.
The company has solved the issue of exploring for and defining long-overlooked prospects – rich buried shallow gold bearing channels. Ancient rivers carrying centuries of eroded gold.
Our new 21st-century methodology utilising new ground penetrating radar and using our own drilling equipment enables us to economically explore, find & develop undiscovered channels close to known mines which have held the eroded gold for over 30-50 million years.
Paleogold has the knowhow, experience, new technology radar and in-house drilling equipment to explore effectively & economically. Early production provides the drive.
Channel gold mining is simple. No big holes, no chemicals, extremely cost efficient and with todays gold prices we can be immensely profitable. All our targets will be less that 20 metres deep and can be mined with simple equipment.
We have prospects already radar surveyed and drilled in Western Australia and have added a new and exciting project in Victoria in known alluvial territory unexplored for shallow channels for 120 years.
Highlights
- Proven conclusively by drilling that our RADAR identifies shallow and deeper channels – accurate in-depth, width, surface traceable direction as well as the strata expected to be encountered in drilling. All in one pass. No one else can do this.
- Instilled the confidence now to aggressively advance to our first gold production project.
- Designed and fabricated our own diesel powered drill rig all mounted on a Toyota Ute – go anywhere and cost free drilling –apart from consumables. Director operated.
- Designed and fabricated own trailer mounted in field go anywhere mini test rig to enable drill then test on site. All in real time –no wait, no cost. Director operated.
- Completed some 60 kilometres of RADAR transects with graphic interpretations produced on the day they were completed.
- Drilled some 75 holes enabling selection of the project we describe below plus others that are in the pipeline.
- High priority targets
Exploration success comes from careful planning – it saves time, it avoids unnecessary expense on low potential prospects and allows valuable time and funds to be spent on the best ground.
The Directors personally carry out all the stages of the field surveying and testing programs. No cost to overheads.
Just targeted exploration – two men, radar unit, a 4WD, a drill rig and time on the ground.
- A paleochannel is a remnant of an inactive river or stream channel that has been buried by younger sediment. The sediments that the ancient channel is cut into or buried by can be unconsolidated, semi – consolidated, consolidated or lithified. The word paleochannel is formed from the palaeo, meaning “old” and channel. It may be synonymous with paleovalley and paleoriver. Wikipedia.
On the left is a simple depiction of a buried ancient river system – a paleochannel. Recent alluvium would now completely cover the older channels, perhaps with a modern river in a different location within the valley. The company is now surveying and then drilling the shallow tributaries that feed or have flowed into such valleys close to big gold mines, potentially the main channel itself where appropriate. For example channels that are detected with RADAR that are under cover and much older than the current observable river and tributary system are drilled and assayed for gold. Ancient buried gold streams.
Alluvial mining is fast and economical. The Paleogold plan is to get into production in 2022. With testing success, a mining operation can commence production within a few months and gold produced from day one.
Why Invest in Alluvial Gold Exploration
Low capital investments
Alluvial or placer gold is usually found close to the Earth’s surface and can thus be accessed more easily.
Conventional hard rock mining can be considered profitable from about 1 g of gold per tonne of rock, but mining alluvial gold can be economical from as little as 0.3 g per cubic metres of gravel. Alluvial gold deposits can contain substantially high gold grades.
When most people think about gold mining, two images come to mind. First, we all grew up learning in history class about the 19th century gold rush, with thousands of ambitious speculators migrating to Australia with nothing but picks, shovels and metal pans to explore the hills and rivers. Second, the vision of modern mining is of huge operations managed by multi-national corporations investing hundreds of millions of dollars. What you never hear about though, and what presents a lucrative option for the sophisticated individual investor, is alluvial gold mining.
Alluvial mining is the mining of alluvial deposits of precious metals, either in rivers and river banks, or in now dry ancient river beds. Gold deposits found in rock formations in the mountains and along the rivers, disrupted through erosion, are displaced via flowing water from rain and washed downhill and concentrated in streams and rivers. Accumulated over millions of years, these alluvial gold deposits can be extremely rich and relatively easy to access compared to vein deposits. Historically individual speculators would look for gold in rivers using the simple panning method we have all seen in the history books.
While many people still search for gold using this ancient method, a large variety of modern equipment and advanced techniques have been developed in recent years to access richer gold deposits found deeper in river bottoms and buried ancient riverbeds, and to dramatically increase the percentage of gold recovered.
Example of a radar image. Note how the GPR can interpret a targets depth and width. In this example we would quickly run transects up and downstream to delineate the extent of the channel followed by rigorous testing of the material in the outlined paleochannel. These are targets that previous miners had no way of knowing they existed nor did they have the wherewithall to even search for them. We now can do what they could not – see through the ground without spending a lot of cash on non prospective ground.
In July 2023 we were indeed very fortunate to be able to apply for a new exploration licence north of Cue, WA.
This large licence area has been the focus of our attention for some time as it potentially sits south west and over the drainage and hard rock extensions of both the close by Tuckanarra and Reedy goldfields. This ( by comparison) very large area covers some 13 sections and is roughly 10 km’s north to south and 5 kms east west at its widest.
Odyssey Minerals ASX: (our neighbour) have just announced, 2 August 2023, reserves of some 325,000 oz/au. Their tenements are next door and we are downstream of their areas.
In addition we recently drilled (Paleogold owned drill rig & always operated by us) a prospect virtually bordering on our southern boundary and found fine gold in every dish sampled – June 2023. This was not our project however we carried out the drilling survey at Paleogold cost as we had access to a tenement that was directly south of the licence we finally been granted. Further, we completed a radar survey on a mining licence on the NE boundary of our licence area, concentrated on hard rock. So we have had valuable experience very close by. Additionally, PGL has radar surveyed and drilled several prospects not far to the north held by Rumble Resources at Lake Annean. This project remains active.
The directors and consultants highly recommend this major acquisition.
Meanwhile a new project utilising modern dry blowing equipment, including ancillary plant such as loaders and high throughput blowers will commence shortly to seek gold nugget concentrations over six large tenements at Cue. POW have been approved by WA Mines and are current until 2027. These targeted areas are on the west side of Cue and represent near surface gold nugget potential resulting from transported wash historically emanating from the Day Dawn goldfield and the Great Fingal mining region. This is a known nugget area. The plan is to carefully record all gold concentrations by GPS location and with that data look for targets that indicate a sub-surface concentration or even the presence of an as yet unknown ore body under cover. The company will share in any resulting production, which is anticipated.
Further, the Chiltern project is discussed below and work continues on the Lake Austin license project.
In addition, the company frequently receives offers of projects, either as a farm in proposition or for outright purchase. One such offer has been received from an ASX listed company with whom we have previously had agreement to drill on one of their tenements. As a result we have good relations with this company, hence the offer to submit an offer. We are, like all offers we receive, proceeding to find ways to finance this exciting and company making project.
As a final comment, I trust everyone understands that we are working to get Paleogold to production as soon as sensibly possible. We are careful not to invest in projects that do not measure up. We do the work and make sure we have all the data we need to make serious decisions. Technology has enabled us to avoid many traps awaiting small explorers.
I believe we are now well placed to make serious advances with an exploration licence that is controlled by the company.