Archean Star Resources Australia Pty Ltd, a wholly owned subsidiary of Archean Star Resources Inc, (“Archean”) has entered into an “Option Agreement” with Teck Resources Australia Pty, Ltd to earn, subject to a 75% back in right, 100% of Teck’s interest in the Gnaweeda Gold Property.
The Gnaweeda gold property is located 35km NE of the town of Meekatharra in the Murchison Province of Western Australia (Figure 1). The property covers a 28km strike length of highly prospective rocks in the Archean-age Gnaweeda Greenstone Belt, and overlies small historic gold workings and several gold prospects discovered by Newcrest Mining in the 1990s. Twenty kilometres to the west, the Meekatharra-Wydgee Greenstone Belt hosts several >1 million ounce gold deposits, including the Big Bell, Meekatharra, and Reedy deposits.
The Gnaweeda Gold Property consists of three gold prospects on two abutting tenements, Turnberry in the north of the property, which is the most advanced, St. Anne’s, approximately 3 km south of Turnberry, and Bunarra, which is at the south end of the property.
During a first phase diamond drill program on the Bunarra prospect, a new discovery was made that intersected an average of 11.78 g/t Au over 18 meters. Included in this was a 1 meter intersection that averaged 110 g/t Au.
Reports
A National Instrument NI-43-101 geological report can be downloaded from;
Gnaweeda43-101.pdf