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PROJECTS (NEW)

MAYFIELD GOLD-COPPER-BASE METALS JOINT VENTURE
EL 6358 BRAIDWOOD NSW
(Capital earning 51% in Stage 1 from Monaro Mining NL)

   

Licence Granted: EL 6358 24th December 2004
Location: 30km north of Braidwood
Area: EL 6358 49km2

Target: Gold and base metal skarns

Commodities Sought: Gold, copper, silver, base metals

Metallogenic Province: Southern Divide Region, Lachlan Orogen

Exploration Philosophy:
EL6358 covers a significant gold-copper skarn deposit at the Mayfield Prospect where very encouraging historic exploration drilling results have been reported. The licence is located in an exploration hotspot close to the world-class Majors Creek gold field near Braidwood. The main focus of the Capital led work programme at Mayfield is to delineate a gold resource at the Mayfield gold-copper prospect and to explore the surrounding terrain for similar occurrences.

Project Status:
Mayfield was added to Capital's portfolio on 29 April 2009 by a Heads of Agreement with Monaro Mining NL (ACN 073 155 781). The key asset within the JV area is a body of gold-copper dominant skarn mineralisation at the Mayfield prospect that was delineated by drilling in the mid-nineties. Significant historic drill intercepts at the Mayfield Prospect that are providing the impetus for ongoing exploration have included:

42m @ 2.54 g/t gold and 0.67% copper from surface in hole MR-4
75m @ 0.51 g/t gold and 0.5% copper from 8m in hole MARC-5
50m @ 0.52 g/t gold and 0.25% copper from surface in hole MA-18; and
66m @ 0.40% copper from 119m in hole MA-22 (inc. 8m @ 1.25% copper from 163m)

In addition, there are several other highly promising gold prospects within the area such as the Limekilns prospect where intercepts in surface enriched material up to 3m @ 41.8 g/t gold from surface have been recorded.

An infill RC drilling program is planned to upgrade resource categories of the Project. Drill collars have been located in preparation for its commencement.

Mayfield project location map