Projects & Royalties

Mertondale (Crawford)

Project: Mertondale (Crawford)
Commodity: Gold
Royalty: 2% NSR, incl Au after 30koz
Subsidiary: Altus Royalties Holdings Ltd
Location: Australia
Deposit Style: Oxide hosted supergene style mineralised system
Key Attributes: M37/1202 covering 8.9km2 located just 25km east of Leonora
Asset Stage: Development
Results: 3.24Mt at 1.0g/t for 101koz contained gold
Next Phase of Work: Pre-Feasibility Study
Deal Partner: Cavalier Resources (CVR.ASX)
Deal Terms: Acquired from Newcrest Mining

Project Overview

Located 25km east of Leonora, the Crawford Gold Project is primarily an oxide hosted supergene style mineralised system. Drilling has been completed on 10m spaced sections with a total of 140 RC holes for 13,528m drilled. Drilling has focussed on infilling the oxide zone with little drilling extending into fresh rock. Mineralisation is open along strike and at depth and the Crawford Gold Deposit includes a near surface 101,000oz JORC compliant Mineral Resource, located on the granted mining lease. Historical drilling results include:

  • 11m @ 2.17g/t from 16m;
  • 10m @ 3.38g/t (inc. 2m @ 12.4g/t) from 17m;
  • 18m @ 2.77g/t (inc. 3m @ 6.96g/t) from 27m;
  • 19m @ 1.64g/t (inc. 4m @ 3.23g/t) from 30m;
  • 15m @ 2.49g/t (inc. 3m @ 7.87g/t) from 35m;
  • 6m @ 5.55g/t (inc. 1m @ 21.1g/t) from 37m;
  • 22m @ 2.98g/t (inc. 6m @ 5.39g/t) from 38m;
  • 7m @ 5.39g/t, (inc. 2m @ 14.2g/t) from 49m; and
  • 6m @ 2.12g/t, (inc.1m @ 7.20g/t) from 55m.

Advanced prior work carried out at the Crawford Gold Project provides the opportunity to rapidly advance to a Pre-Feasibility Study, which may allow for near-term cashflow and the potential to self-fund future exploration activities. This work includes:

  • Infill drilling program complete
  • Updated JORC MRE
  • Environmental surveys complete
  • Metallurgical testing complete
  • Mine scoping study complete
  • All access agreements complete
  • Miscellaneous licence for main road access
  • No heritage issues
  • Geotechnical review complete
  • Hydrogeological review complete
  • Ore & waste environmental tests / profiling complete

Royalty Overview

Altus owns an 80.1% interest in a 2.0% NSR royalty for gold (after 30koz) and other minerals across one exploration licence located in Kalgoorlie, Western Australia (ML M37/1202).


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