The Calarie project comprises EL 7023 and ML 739 located near the town of Forbes, 290 kilometres west of Sydney. TriAusMin considers there is potential for the discovery of high-grade gold mineralisation amenable to underground mining at the Calarie Project. Calarie covers the historic Lachlan gold mine that operated between 1896 and 1908. The Lachlan Deposit produced in excees of 612kg gold at an average grade of 23g/t. The gold is hosted in the Daroobalgie Volcanics, a Late Ordovician andesite that forms part of the Macquarie Arc, home to several major gold mines likes Cadia and Northparkes.
The Calarie project is currently subject to a farm-in agreement with Goodrich Resources Limited. From previous exploration, Goodrich have established the JORC Inferred Resource of 0.5 million tonnes grading 2.2 g/t gold within and beneath the old gold workings. In 2011, Goodrich undertook an Induced Polarisation (IP) geophysical survey and a six (6) hole reverse circulation (RC) drilling programme over the area returning a best intersection of 21 m @ 1.13g/t gold. Goodrich plan to continue drill testing in 2012 / 2013.