TriAusMin’s projects are located in New South Wales, Australia and within the Silurian belt that hosts Volcanogenic Massive Sulfide (VMS) base and precious metal deposits. TriAusMin’s tenement portfolio has been built over the past 20 years through the exploration and discovery of VMS deposits within both Australia and Canada.
The Company’s leading asset is the Woodlawn Project is a high grade zinc, lead, and copper deposit containing by-product gold and silver and is located 250 km southwest of Sydney.
Two principle projects of Woodlawn Project are the Woodlawn Retreatment Project (WRP) and the Woodlawn Underground Project (WUP). The WRP contains JORC Reserves of 11.2 Mt in tailings material left over from historic mining at the former Woodlawn Mine. The WRP involves reprocessing these tailings to produce separate zinc, lead and copper concentrates that contain gold and silver by-product credits with a mine life of 7.5 years. The WRP is near-development with final NSW State regulatory project approvals expected during 2012 with production scheduled to commence in 2014.
The WUP contains high grade JORC Resources of 10.1 Mt in the remnant pillars and old workings of the underground Woodlawn mine. The WUP involves near mine deep drilling to delineate additional extensions and repetitions to the known Woodlawn Ore Body. The former Woodlawn Mine was in operation from 1978 to 1998 and produced 13.8 Mt @ 9.1% Zn, 3.6% Pb, 1.6% Cu, 74 g/t Ag & 0.52 g/t Au until its closure in 1998.
Woodlawn Regional Exploration (WRE) involves targeting satellite deposits in the greater Woodlawn area and assessing past producing deposits such as Currawang and Cowley Hills.
TriAusMin’s Lewis Ponds base and precious metals project, located in the historic mining district of Orange New South Wales, contains JORC Resources of 6.6 Mt. The Lewis Ponds deposit has potential as an open pitable resource and occurs in an almost identical stratigraphic and structural setting to the recent McPhillamys discovery located approximately 20 km south of the Lewis Ponds tenement.
|Table of JORC Resources and Reserves|
|WRP||Reserves Proven & Probable||11.2 Mt 2.2% Zn, 0.5% Cu, 1.3% Pb, 31 g/t Ag and 0.3 g/t Au.|
|WUP||Resources Measured + Indicated |
|8.6 Mt at 10.3% Zn, 4.0% Pb, 1.8% Cu, 84 g/t Ag, & 0.5 g/t Au |
1.5 Mt at 9.60% Zn, 4.1% Pb, 1.7% Cu, 87 g/t Ag, & 0.6 g/t Au.
|Lewis Ponds||Resources Indicated and Inferred||6.6 Mt 2.4% Zn 0.2% Cu 1.4% Pb 69 g/t Ag and 1.5 g/t Au.|
The Overflow project is centred around the historic Overflow mine that at the turn of last century mined ore grading produced 18 grams per tonne gold, 93 grams per tonne silver and 10% lead. This project is located 35 km north of the Mineral Hill mine in the same belt of felsic volcanics that is host to a number of past-producing base metal mines, including the Overflow Mine, over a 20 km strike length.
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The Calarie project is gold play located 5 km from the town of Forbes on a historic gold mine site that between 1896 and 1908 mined 55,000 tonnes of high grade ore averaging 22 grams per tonne gold. This project is the subject of a Farm-In Agreement with Goodrich Resources Limited who have announced a JORC compliant Inferred Resource of 0.5 million tonnes at 2.2 g/t gold (using 1 g/t cut-off).