By Murray Nicholls
AUSTRALIA: A Modern-day prospector believes he has found a billion-dollar seam of gold and copper just a few kilometres from the original Gold Rush fields at Hill End, north of Bathurst.
Grasmont Exploration and Mining director Ian Morwood has taken out an exploration licences covering around 150 square kilometres of unexplored territory known as the Western Flank near Hill End.
He said initial sampling had produced positive results and he hoped to commence drilling soon.
If he is right, Mr Morwood says the new Hill End mine could rival Cadia for output.
Mr Morwood first came across the target site in 2010 when he was taken onto the land by a property manager.
He said he was first struck by a bare stretch of land in the middle of dense bushland – a sign, he said, or gold sulphides and copper sulphides coming up through the soil.
He said the landscape was similar to the landscape at the world’s largest gold mine in Irian Jaya.
“The vegetation anomaly is similar to the vegetation anomaly and the geology of the world’s largest gold and third-largest copper mine – Grasberg in Irian Jaya – and is on the northern end of a major fault line with outcropping quartz reefs, with no record of previous exploration,” Mr Morwood said.
“This unexplored fault line is only three kilometres from and runs parallel to the world’s richest quarter mile – the Rose of England zone on Hawkins Hill at Hill End.”
Mr Morwood said there were other promising signs.