Speedway Project
Prospective for ‘Carlin’ Style Gold
Western utah, USA
Overview
Carlin Style Gold Deposit
- Located only 40km’s SE of the Long Canyon Gold Mine (2.2M oz), a ‘Carlin style’ deposit in eastern Nevada co-owned by Newmont Corp and Barrick1.
- The Speedway Project is considered highly prospective for
gold where the Company is targeting gold mineralisation in similar geological setting to Long Canyon. - Long Canyon is a Carlin Type gold deposit that is not on the Carlin Trend, but in the shelf carbonate sequence that
extends east of the Carlin Trend and into Utah. - The discovery of a significant gold deposit so far east of the
Carlin trend has raised awareness of the potential of far
western Utah to host similar gold deposits as the Carlin
Trend and Long Canyon.
1 – The Long Canyon Deposit: Anatomy of a New Off Trend Sedimentary Rock Hosted Gold Deposit: Moira T Smith; Economic Geology
(2013) 108 (5): 1119 – 1145
Previous Exploration
Overview
- BHP is believed to have first located the Speedway project in 1995 as a result of geochemical sampling surveys.
- BHP carried out extensive rock chip sampling and geophysical IP surveys, however the IP surveys produced anomalies on the north side of the range in the alluvial pediment and this is where BHP concentrated its drilling.
- Historical database of over 800 historic rock chip samples with very limited follow-up testing of identified gold rock chip anomalies – strongly anomalous gold sample results over 2.5kms of strike.
- BHP drilled vertical RC holes TZ-1-TZ-6 with depths up to 219m but only TZ-5 was proximal to a geochemical gold anomaly and this drill hole intersected anomalous gold values from 173m-187.4m of 14.4m at 0.150ppm Au.
- Sampling completed by Moab, with results confirming the existence of multiple mineralised outcrops with strongly anomalous gold values associated with brecciated and altered limestone rocks.
- Further exploration work consisting of mapping and significant soil sampling will commence shortly with the aim of developing drill targets in Q3 2022.
