Chakola - Gold, Copper, Silver & Base Metals Project (NSW) - EL9039
The Chakola Exploration Project EL9039 license is located at Chakola NSW, 15kms north - north east of Cooma (NSW) and covers approximately 90 square kilometres of an advanced JORC defined Resource in excess of 200,000oz Gold (equiv) within the highly prospective Lachlan Fold Belt and covers prospective volcanic strata from which arguably the best historical exploration results in the region for Volcanic-hosted massive sulphide (VHMS) and epigenetic gold, copper, lead, silver deposits in Silurian volcanics of the Bredbo structural block.
Previous exploration work has been concentrated on the Harnett prospect which is the principle prospect with in the EL License and where gold and base metals resource that allows extraction by shallow open cut mining in the future has been outlined by drilling. The discovery confirmed the potential to locate similar deposits in the license and is providing the impetus to search for more mineralisation.
The company is following up the results of previous exploration in the Chakola area which goes back to the early sixties. Delta Gold's work will inlcude an assessment of the historical database, re-interpretation of existing airborne magnetics and radiometric survey data, photogeological study and geological mapping.
Modelling of Drill hole data on the Harnett deposit confirming a southern plunging zone of drill targets and high gold values.