EL 4527
(Nagambie 100%)

The Taradale Project lies within the Bendigo Structural Zone of the Central Victorian Goldfields with an area of 7 km²

Mineralisation in the Bendigo Zone is closely related to the development of fault reefs and saddle structures. In some areas, remobilization and re-concentration of metals has occurred in conjunction with granitoid emplacement in the Devonian. Taradale has a rich history of gold production derived from 'Bendigo Style' auriferous quartz saddle reefs and placer gold deep lead deposits associated with the basalt veneered Coliban-Campaspe drainage system since the discovery of gold at Taradale, in 1852. Mining produced 295,000 ozs of gold from the Taradale Mining Division comprising the Taradale, Drummond and Lauriston goldfields.

Production

Taradale Mining Division Production for the Period 1864 to 1960:
Orogenic gold: 7,175 kg (230,685 ozs)
Placer gold: 1,990 kg (63,980 ozs)

The area has had limited modern exploration. Investigations of significance were in 1996 a shallow two hole drilling program conducted by previous tenement holders, recent structural reinterpretations of quartz reef structures, soil sampling and two exploratory diamond drill holes completed by Nagambie (Panaegis during the period 2005 -2007).

Quartz saddle reef structures provided much of the historic primary orogenic gold production and present as attractive exploration targets. The United Kingdom Anticline contributed about 46,000 ozs of orogenic gold exploited from multiple stacked auriferous saddle reefs. Production was mined from shallow depths (maximum 160 m from surface) within a strike development of 1,100 m. Accurate production statistics are not known but careful estimates indicate that the average recovered grade was about 12.6 g/t gold. The gold ore is recorded as being free milling, which suggests that high metal recovery rates were achieved using simple gravity and copper-plate gold collection methods. The Taradale saddle reef developments may be as persistent in repetition as those at Bendigo.

Depth repetitions and extensions of the United Kingdom Anticline reefs and potential reef developments associated with parallel fold axes are attractive exploration targets for the establishment of potential gold resources.