| Project: | Mulgarrie |
| Commodity: | Gold |
| Royalty: | 1.2% GR >225koz Au |
| Subsidiary: | Altus Royalties Holdings Ltd |
| Location: | Australia |
| Deposit Style: | Greenstone belt orogenic gold deposit |
| Key Attributes: | Located 20km from the 3.3Mpta Paddington Mill |
| Asset Stage: | Resource extension |
| Results: | Total Resource of 1.5Mt at 3.07g/t for 147koz (2011) |
| Next Phase of Work: | Potential ore source for Paddington Operations |
| Deal Partner: | Zijin Mining |
| Deal Terms: | Acquired from Newcrest Mining |
Project Overview
The Mulgarrie Project is located north of Kalgoorlie, Western Australia. It is owned by Zijin Mining after acquiring the final ~18% interest from Norton Gold Fields in 2015. Norton Gold Fields is now a wholly owned subsidiary of Zijin Mining. The tenements include the historic Mulgarrie Open Pit Mine and the Mulgarrie Wells which are orogenic gold deposits. The Mulgarrie site was mined in the 1990s and processed at the 2.2Mtpa Paddington Mill to the west.
As of December 2014, as part of the Paddington Operations, the Mulgarrie deposit has a total resource of 2.65Mt at 2.2g/t for 188,000oz of gold. The Mulgarrie Well deposit has a total resource of 0.47Mt at 1.47g/t for 22,000oz of gold.
The Kalgoorlie region geology comprises prospective Archaean greenschist facies rocks with different deposit styles including structurally, rheologically, and stratigraphically controlled gold. Mineralisation at Mulgarrie Well is related to ultramafic rocks with alteration zones of carbonate-silica-biotite or fuchsite.
Royalty Overview
Altus owns 80.1% of a 1.2% GR on gold production greatern than 225k oz as well as 1.2% NSR for other minerals, payable on silver content if it exceeds 20% of weight of gold dore. The Mulgarrie royalty area is over 25km² and is a resource definition and extension project, existing within Altus’ Pre-Resource Stage Portfolio of Royalties.
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