Booths Reward Project

The Booths Reward (EL6012 and EL6445) project (100% CRC) is located 170Km NW of Canberra is centred on the Township of Coolac on the Hume Highway 12km north of Gundagai and 25km SE of Cootamundra in central NSW. The project is considered prospective for Gold and Copper-Lead-Zinc mineralisation.

The land holding extends from the Muttama Goldfield in the north through to the Murrumbidgee River in the south. The project area covers a portion of the Coolac Gold Field encompassing an area of 247.7 sq km and at least 15 recorded historic gold mines/prospects within a 10 km long north-south trending segment of the prospective Jindalee Beds.

Gold mineralisation has been identified within a narrow zone of sheared serpentinite hosted by a conjugate set of quartz reefs that strike parallel and oblique to local shear zones. Tectonically, the project area is situated in the central part of the Lachlan Fold Belt; lying in the Bogan Gate Synclinorial Zone within a lower Palaeozoic sequence that contains thrust bound volcanics, sediments and intrusives slices.

The Booths Reward mine, mined to a depth of 82m, represents the largest historic working within the tenement area with reported production (1888-1936) of only 1,000oz of gold with an average grade of 3oz/t. Recent modern exploration in the area focused on base metal, VMS and nickel-chromite mineralisation associated with the serpentinite sequences.

In recent times, pre 2000, only modest gold orientated exploration has been conducted on and around the Booths Reward workings. The group of workings occur over a 350m NE-SW trending ridgeline with a best historic RC drill hole intersection of 10m @ 2.2g/t Au in BR957 which finished in mineralisation in an area that returned rock chip results peaking at 39.2g/t Au.

Analysis technique Au-AA26 Fire Assay 50gram charge (ALS Chemex) Laboratories.
Sample intervals of 1m or 2m in RC holes, *Diamond hole 1m half core or as indicated

Exploration since 2005 by Moly Mines Ltd included data compilation, soil geochemical sampling, RC (1,533m) and Diamond drilling (336.29m). The Booths Reward project area is viewed as under explored.

Gold mineralisation at Booths Reward is associated with a strong positive magnetic anomaly, a significant gold in soil anomaly, NNW trending shearing, quartz veining and several old workings. Exploration to date confirms gold mineralisation occurrences outside the known line of lode indicating additional targets other than the historic workings.

To date Booths Hill has proven to be the best zone of gold mineralisation identified along the eastern margin of the Wambidgee Serpentinite. Other exploration targets that warrant follow-up work include gold-in-soil anomalies associated with a shear zone west of the Booths Reward line of workings and two other soil anomalies which are coincident with gold workings. One is positioned 700m north of Booths Reward the other 1,200m to the south of Booths Reward.

Planned exploration at Booths Reward includes ground magnetic interpretation, structural interpretation, geological mapping and sampling and follow up drilling together with a literature review of the Bongongolong Pb-Zn VMS target.