Niagara (Kookynie) Gold Project

Accelerating It’s Highly Prospective and Underexplored WA Gold Project

Project Overview

Niagara (Kookynie) Gold Project

The Niagara project is located ~6km southwest of Kookynie in the central goldfields of WA. The project comprises one granted exploration licence, E40/342 and six contiguous prospecting licence applications including existing applications, P40/1506, P40/1515, P40/1516 and P40/1517 plus the recently acquired P40/1513 and P40/1518.  Access to the project is provided via Goldfields Highway from the town of Menzies and the sealed Kookynie Road which bisects the northern part of exploration licence E40/342 and the southern part of P40/1506 (Figure 1).

The project is located within the central part of the Norseman-Wiluna greenstone belt and the geology of the area is characterised by large rafts of semi-continuous greenstone stratigraphy within the Mendleyarri monzogranite batholith. Numerous historical workings occur within and to the north of the project area, with a number of major historical mines located in the immediate vicinity of Kookynie, including the Cosmopolitan Mine which produced circa 360,000 ounces of gold at average grade of 15 g/t gold from 1895 to 1922.

Figure 1. Niagara (Kookynie) Project – Licences & Mineral Occurrences on 1:500,000 Geology

The prospecting licence applications, P40/1506, P40/1513, P40/1515, P40/1516, P14/1517 and P40/1518 include a number of historical mining shafts and shallow workings which were mined during the late 1890’s and early 1900’s. A number of small-scale workings & historical shafts also occur within E40/342. Exploration by historical workers within E40/342 has been limited to broadly spaced soil sampling and limited reconnaissance drilling programs, with the majority, of the work undertaken in areas outside the current licence area. Exploration within P40/1506, P40/1513, P40/1515, P40/1516, P14/1517 and P40/1518 , during the late 1980’s and 1990’s, comprised trenching, sampling and shallow first pass drilling, primarily focused on the historical workings. As a result, the Niagara project remains essentially untested.

    The Company has received the final aeromagnetic data package which was collected during July’s airborne magnetic survey at its Niagara gold project near Kookynie in WA (Niagara Project). The survey follows up on anomalous soil sampling results. 

    The detailed fixed wing, aeromagnetic survey comprised 2,053 line-kilometres at 20m line spacing’s over E40/342, P40/1506 P/40/1517and P40/1518. Initial processing of the aeromagnetic data has been completed (Figure 2). The Company is undertaking further structural interpretation of the airborne survey data with the aim to define & map potential north trending structures, within the buried magnetic basement, that are associated with gold mineralisation in the Kookynie region. 

    The results of this work will be used to refine a follow up field program which is likely to include additional infill auger soil sampling and ground mapping to aid in drill targeting. Permitting for a PoW has been approved, for up to 5,000 metres of drilling. GTI is working towards an initial drilling campaign during September 2020.   

    Figure 2. Niagara (Kookynie) Project – Aeromagnetic Survey Results (RTP 1VD_NL)

    Exploration by GTI has identified a number of significant gold in soil targets within the northern and central parts of E40/342, including a strong 500m long, 100m wide anomaly up to a peak of 38 ppb Au, in the north-eastern corner of the licence. The sigmoidal shaped, north to north-northeast trending anomaly is open to the north east and adjacent to a major east to northeast trending regional fault.

    The anomaly lies on a similar orientation to other known gold mineralisation within the Niagara – Kookynie district.

    Recent highly successful exploration drilling conducted at the Leipold & McTavish prospects (within 2 – 4 kms north of the Niagara Project), by Metalicity Ltd (ASX:MCT) in JV with Nex Metals Exploration Ltd (ASX:NME), demonstrates the exciting potential of the Kookynie region within the central Norseman-Wiluna greenstone belt (Figure 1).

    Acquisition of New Licences

    The Company has entered into binding agreements to acquire three prospecting licences in the Kookynie region of WA’s goldfields. Prospecting licence applications P40/1513 and P40/1518 adjoin GTI’s existing applications at Niagara near Kookynie (New Niagara PLAs) and P40/1492 is a granted prospecting licence located ~15km northwest of Kookynie (Reach PL) (Figure 3).

    Acquisition of the New Niagara PLAs creates a contiguous package of applications covering ~5km of the historical Niagara gold trend, in addition to the Company’s existing E40/342 tenement. This newly consolidated belt, which hosts numerous historical shafts and workings within the Niagara gold trend, offers GTI an opportunity to focus exploration within this highly prospective and underexplored mineralised corridor. GTI has now received the aeromagnetic survey data for the Niagara project area, which includes the New Niagara PLAs. Further information regarding interpretation of the survey data and the impending fieldwork program will be provided in due course.

    The Reach PL is located close to the Greater Ulysses Project, held by Genesis Minerals Ltd (ASX: GMD), including the Ulysses, Admiral/Clark/Butterfly and Orient Well gold mines which together hold resources of over 1M oz of gold1. The Reach PL includes the Reach prospect (Figure 2), where exploration, including RC drilling, by earlier workers identified anomalous gold associated with historical workings and outcropping quartz veining.

    1 Mineral Resource Figures (Orient Well, Admiral/Clark/Butterfly, Puzzle & Orion/Sapphire) from Genesis Minerals (ASX:GMD) dated 24/6/2020

    Figure 3. GTI Kookynie Project Location and Neighbouring Holders on Regional Aeromagnetics

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    GTI Resources Ltd

    Level 1
    89 St Georges Terrace,
    Perth, WA 6000

    PO Box Z5187
    Perth WA 6831

    +61 (0) 8 9226 2011

    info@gtiresources.com.au

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