The Palm Springs Gold Project is located in the Hall Creek Orogen of Western Australia and is an advanced exploration play. Palm Springs has spectacular drill intercepts, historic resources and historical production which provides confidence to advance the project.
The Project includes 20km of prospective strike, covering more than 12,500ha with more than 60 known gold occurrences outside the Butchers Creek Mine, which historically produced 52,000oz gold.
Mining at the Butchers Creek mine ceased amid historically low gold prices in the late 1990s and there has been little to no modern exploration since that time.
Of the MRE reported, 40% is in Indicated category which will significantly reduce planned exploration and development timelines. A large portion of the Indicated Resource at Butchers Creek occurs in the floor and beneath the historic pit, providing immediate ore for future development. The Butchers Creek Resource sits largely within granted Mining Leases, potentially cutting approval times for development.
Meteoric’s Maiden Global Mineral Resource Estimate for the Palm Springs Gold Project
|Deposit||Lower Cut-off (g/t)||Resource Classification||Tonnes (Mt)||Gold Grade (g/t)||Contained Gold (oz)|
|Sub-Total||Ind + Inf||5.2||1.9||319,000|
|PSPG Global Resource||5.6||2.0||357,000|
Note: figures may not add up due to rounding.