Great southern kundip polymetallic project

The Great Southern advanced polymetallic project, in southeast Western Australia, is located between the towns of Hopetoun and Ravensthorpe, about 525 kilometres, by road, south of Perth. The project, that includes the two silver, copper, gold, lead and zinc exploration prospects, Kundip and Munglinup, is covered by around 2,500 square kilometers of tenements.

The Great Southern Project Could be Developed in the Future by ACH Minerals

Chinese owned Silver Lake Resources has been developing the Great Southern Project but in December, 2015, it announced it had entered into a Joint Venture and Farm-In agreement with another Chinese owned mining company, ACH Minerals Pty Ltd. The agreement gives ACH Minerals the opportunity to acquire 51 percent of the Great Southern Joint Venture Project if it spends a certain amount on exploration within the next three years. When ACH Minerals successfully obtains 51 percent of the Joint Venture, it will then have the right to increase its interest in the project to 80 percent if it is willing spend a further amount on exploration within a further three years. Silver Lake Resources have also given ACH Minerals the option to buy the entire project outright at any time during the next six years.

The agreement covers most of Silver Lake Resources tenure of the Great Southern Project including the Ravensthorpe Accommodation Camp lease, its freehold land holdings in the area and all relevant mining information. The company, ACH Minerals Pty Ltd, was established specifically to enter into an exploration farm-in agreement and a possible Joint Venture partnership with Silver Lake Resources Limited's, Kundip Polymetallic Project.

The Great Southern Polymetallic Project currently has a JORC Resource of 95 tonnes of copper, 10 million ounces of silver and one million ounces of gold. The project's JORC Reserve stands at 60,000 tonnes of copper, 8.3 million ounces of silver and 0.44 million ounces of gold.

Great Southern Project Kundip Centre Contains two Main ore Bodies

The Kundip Mining Centre, that is part of the Great Southern Project, contains two main polymetallic ore bodies lying within 10 kilometres of each other, The Trilogy and Kundip. It also has numerous high grade gold bearing ore bodies that have been subjected to past small scale mining operations which are recorded to have mined 121,000 tonnes of ore grading at 18 grams to a tonne, that produced 68,000 ounces of gold from open pit and underground mining. These mine sites are underexplored at depth as well as along strike.

Munglinup is a greenfield exploration project covering an area of more than 1,600 kilometres, that is located within the Albany Fraser gold belt. This belt is considered to be one of the most significant gold belts in Australia as it is home to the five million ounce Tropicana gold deposit lying about 500 kilometres to the north east of the Munglinup project. Areas containing wide anomalism for base metals and gold have been identified along road verges within the Munglinup lease as a result of a road verges soil sampling program carried out to identify potential geochemical targets.