Serpentine prospecting permit (PP60210)

Investment Profile

Serpentine prospecting permit (PP60210)

Mineral Rangahau

The Serpentine prospecting permit (PP60210) covers mined vein and widespread placer deposits where gold mining has taken place. It extends over 72 sq.km. Excluded stream areas in red cover previous gold dredging permits.

INVESTMENT HIGHLIGHTS

Shear zones potentially hosting gold deposits similar to the Macraes mine could exist in any of three situations on the permit;

at the Caples-Torlesse terrane boundary which passes through from NNW to SSE
near the possibly coincident schist textural zone III and IV boundary as is the case at the Macraes mine
and along lines of higher conductivity as delineated by a recent airborne EM survey

A recent regional magnetic survey shows a well-defined line of magnetic contrast running for over 20km through the permit. This appears to confirm the boundary between the Caples (red and more basic/magnetic) and the Torlesse terranes as lying lies within the permit, close to the line mapped by geochemical sampling.