GOSSAN HILL GOLD LIMITED ACN 147 329 833
PROSPECTUS FOR THE OFFER OF 40 MILLION ORDINARY SHARES AT AN OFFER PRICE OF $0.20 EACH TO RAISE $8,000,000 MINIMUM SUBSCRIPTION OF $4,000,0000
Projects Mt Adrah: 239,000 oz JORC Inferred Resource (>500,000 oz total contained mineralisation). IntrusionRelated Gold deposit. Coarse grained free gold plus refractory gold (not a problem anymore). Bauloora: Untested low-sulphidation epithermal vein system. Peel Fault: Orogenic, IntrusionRelated and Carlin-type gold prospects. Weabonga: Wattle Gully high-grade quartz vein analogue.
Board of Directors Dr Andrew (Andy) White – Executive Chairman, Geologist and Company Director, 49 years experience Dr Leon Pretorius – Non executive Director, Geochemist and Company Director, 41 years experience Mr A James (Jim) Morgan – Non executive Director, 30 years Electrical Engineering, Mining and Construction experience Mr Robert Waring – Non executive Director and Company Secretary, 30 years financial accounting and Company Secretarial experience
Purpose of IPO and news flow Drilling finds ore! • Adequately-funded for intense exploration of carefully selected drill-ready gold targets • Commence drilling as soon as funds raised, keep drilling to provide ongoing flow of news, more than 40% of budget spent on direct drilling costs over first 2 years • Aim to increase Shareholder value through early discovery and extension of known gold mineralisation • Move rapidly to develop discoveries to mining or sale
Exploration Summary Mt Adrah: Deep drilling and 3D IP to extend known deposit and test additional blind geophysical targets nearby Bauloora: Detailed geological mapping and early drilling targeting high grade epithermal quartz vein system (analogues of Pajingo and Cracow in Queensland) Peel Fault: Drill out CNQ’s 2010 discovery and drill several new targets north and south of discovery Weabonga: Drill three target prospects. Target is Wattle Gully (in Victoria) style high grade (>9g/t) quartz vein mineralisation
Capital Structure
So what is new about Mt Adrah? Recognition as Intrusion-Related Gold Size potential for block caving
Refractory but also some coarse freemilling gold (Prospectus photo) BIOX process for refractory gold recovery
Mt Adrah (Hobbs) Hobbs Deposit outcrop
Old workings 150m east of Hobbs
Old workings 160m east of Hobbs
Mt Adrah SE extension, outcrop 600m SE of Hobbs
A note on BIOX........ Proven technology, improved gold recovery from concentrates Used at Fosterville, Wiluna, Youanmi, Beaconsfield, Sao Bento (Brazil), Laichao (China). Environmentally friendly, removes arsenic, iron, sulphur from ores for safe disposal. Low capital, operating costs
What is special about Bauloora? .
Untested lowsulphidation epithermal gold Finding visible gold in Bauloora samples like “finding Scott Lode at Pajingo� This style of deposit typically >>1 million oz, high grade (6-12g/t
And the Peel fault?
Palaeozoic greenstone belt, virtually untested in modern times, produced 11t gold over 100 years.
Recent drilling opens up a range of gold prospect types
Orogenic gold, Carlinstyle and Intrusion Related Gold targets to be tested by GOS
Mineralised Devonian sediment core (akin to Carlin-style)
Listwanite - orogenic gold habitat
And last but not least, Weabonga
Not touched since 1916
Cross-cutting quartz veins in black shale (Highland Mary mine at Weabonga)
Highland Mary mine closed in 3 oz primary ore Visible gold in GOS rock chip sampling Wattle Gully analogue (12.9t Gold at 10.9g/t)
Wattle Gully Mine (Victoria) 10.9g/t