Tarcoola

The Tarcoola Goldfield in South Australia, that is located 60 kilometres north west of Tunkillia and three kilometres from Tarcoola, was discovered in 1893. Since that time it has produced 77,000 ounces of gold at an average grading of 37.5 grams of gold per tonne of ore. The gold mineralisation of the Tarcoola Goldfields orebody exists in multiple deposits, the largest being the Perseverance deposit.

Over 90,000 Metres of Exploratory Drilling has Occurred at the Tarcoola Project in Recent Times
A large amount of exploratory drilling has taken place within the Tarcoola Goldfields in recent times, totalling more than 90,000 metres. A result of all this activity is that a clearly defined high grade but small scale gold deposit has been identified. The feasibility of economically mining this deposit will become clearer when a proposed gold treatment plant is built at Tunkillia. The drilling program at the Tarcoola Goldfields being carried out by Mungana Gold Mines was finalised at the end of 2012, resulting in a new resource estimate of 0.97 million tonnes of gold bearing ore existing at the site grading at 3.12 grams of gold a tonne. Drilling at the Tarcoola Project has also confirmed the high quality of gold mineralisation at the Wondergraph and Perseverance prospects. The Mungana Gold Mines Tarcoola Gold Project has the potential to add 20,000 ounces of gold a year to the gold production at the Tunkillia gold treatment plant.

Mungana Gold Mines Listed on the ASX in 2010
Mungana Gold Mines was listed, for the first time, on the Australian Securities Exchange (ASX) in July 2010, as a high potential gold exploration and development company. The company is currently focusing its attention on the Tunkillia and Tarcoola gold projects in South Australia that are both located within the highly prized Gawler Ranges Volcanics region. The combined projects have a total gold resource of 975 thousand ounces of gold and 2.5 million ounces of silver. Mungana Gold has Helix Resources as a joint venture partner with a diluting interest of 30 percent in the development of the Tunkillia Project.

Tarcoola and Tunkilla Pits to Produce 80,000 Ounces of Gold Annually
Mungana Gold Mines is aiming to produce more than 80,000 ounces of gold a year from its open pit mines at its Tarcoola and Tunkillia operations. To achieve this it has put together a team of in-house professionals, consultants and contractors in readiness for the transition from the project stage through to construction and development.

Groundwater in Short Supply at the Tarcoola Gold Project Site
In 2013 work has continued with the preparation of the mining lease proposal for the Tarcoola operation. A groundwater study has revealed water is present at the Perseverance site, the site of the proposed new pit, in relative low quantities. However, there is sufficient water to operate the processing plant only a few kilometres away to the south east of the project site, this water is hyper-saline but believed to be suitable for metallurgic processing.

Silver Could be a Bonus at a future Tarcoola Gold Mine
A review of old files has been conducted by Mungana Gold Mines to assess whether the Gawler Range Volcanics in the Tarcoola area may also contain high grade silver mineralisation, similar to that discovered in a field to the south east of the project site.
Mungana Gold Mines acquired the Tarcoona Gold project from Stellar Resources under the condition Mungana Gold mines complied with certain conditions, one of which was that Mungana Gold Mines had to spend
$500,000 at the site by July 2013.
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