The Project area includes the historic Mala pyrite mine reported to have produced 200,000 tonnes of ore comprising 80Kt at 0.55% Cu, 43.5% S and 0.3% Zn and 120Kt at 0.45% Cu, 25.5% S and 0.3% Zn; No gold grades were quoted historically.

Hosted by basalt rocks, mapping in the target area has identified numerous volcanic vents synonymous with VMS systems. Prospectivity is enhanced by the presence of a large number of northwest – southeast trending faults which may be important for hydrothermal fluid flow and subsequent mineral deposition.

Massive sulphide is still exposed in the open pit and a 1994 report estimated a non-JORC (2012) reserve of 200,000 tonnes. In 2014, a low-key reverse circulation drill programme (1,092m) was undertaken to validate historic drill results and to determine both gold and silver grades that had previously never been estimated. All holes drilled intersected pyrite-rich sulphide mineralisation related to a VMS system. The system remains open in all directions.

Drill intercepts included 25m at 1.23g/t Au, 4.2g/t Ag, 0.34% Cu and 1.16% Zn from 46.0m, 39.0m at 0.59g/t Au, 1.3g/t Ag, 0.39% Cu and 0.33% Zn from 33.0m and, 13m at 0.85g/t Au, 4.5g/t Ag, 0.20% Cu and 0.91% Zn from 21.0m.

An estimated 500,000 tonnes of ore stockpiles and tailings remain on-site requiring testing to estimate both gold and base metal grades as possible future sources of low-grade leachable feedstock.

Preliminary reconnaissance by Caerus has identified mineralisation at surface along strike from the current pit face as well as an extensive geobotanical anomaly indicative of pyrite-rich country rock extending along strike from the former mine site.

Historic drilling and exploration has revealed:

  • High-grade VMS-type mineralization;
  • Thick intervals of mineralization located close to surface;
  • Sulphide-rich altered volcanic host rocks and gossan development along strike from the former open pit.
Mala gold-bearing pyrite dump overlying mineralised tailings
  • A dump containing approximately 500,000 tonnes of tailings material generated at a time when Mala was exploited solely for the recovery of pyrite for acid production will be tested for residual recoverable metals.
Target Types
  • High-Grade Sulphide Ore – 3-D modelling and additional drilling of gold – copper – silver mineralisation close to surface.
  • High-Grade Sulphide Extensions – Exploration and evaluation of gossans and alteration along strike of the former open pit coincident with faulting, possibly indicative of underlying sulphide mineralisation.
  • Gold in Dumps – Systematic drilling of dumps to establish gold content and to generate a bulk sample for metallurgical test work.