Overview Of Projects
Set out below is a brief overview of the project areas being acquired by the Company. A detailed discussion of the projects and exploration programs is set out in the Independent Geologist’s Report in section 8 of the Prospectus.
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Mt Gibson Project (Accent 100%)
The Mount Gibson project centred on the Great Northern Highway is located 300 km northeast of Perth in the Yalgoo Mineral Field. It consists of three Exploration Licences with a combined area of 454 km2.
Highlights >390Mt maiden Resource for Accent’s 100% owned Magnetite Range Iron Ore (magnetite) Project Potential for a 20 year mine life; additional upgrade drilling is expected to add to project scale This is a high category Resource classification, with more than 70% already in the Indicated category Indicated Mineral Resources can be included in Ore Reserve estimates Most of the Resource comprises low sulphur variants that have been subject to extensive testwork Extensive metallurgical testwork and engineering activities continue Pre‐feasibility study activities & Ore Reserve estimation are likely to proceed in the coming months  E59/875 partly surrounds Mt Gibson Iron Ltd’s Mt Extension Hill project and it would appear that the ironstone formation extends onto the Company’s EL59/875 at the north eastern and south western extremes of the project. Past exploration has identified many ironstone outcrops on the tenement between the Mt Gibson Iron Ltd project and that of Gindalbie Metals Ltd to the north. The Company has conducted several ground surveys followed by a preliminary drilling programme which confirmed the presence of magnetite in thicknesses up to 68 metres. Less than 50% of the magnetic anomaly generated by BIF formations has been tested at this time. Further ground based magnetics will be carried out prior to drill testing the balance of the anomaly targets. The Company is keen to establish a magnetite resource at Mt Gibson as a modest resource in terms of tonnage would be an attractive acquisition target following the recent acquisition of Mt Gibson Iron magnatite resources by Chinses interests. Accent's exploration target is to identify a magnetite resource of up to 100mt. EL59/876 is located adjacent to the Mt Gibson gold mine (now owned by Oroya Mining Ltd) which to date has produced approximately 870,000 ounces of gold from a number of open pits. The geology is dominated by a greenstone sequence consisting of mafic volcanics, banded iron formations and granitoids forming the southern extremity of the Yalgoo greenstone belt. The contact zone between the greenstones and the marginal granitoids forms the local Retaliation shear zone, which hosts several high grade gold prospects.
Part of the project area has been explored previously by others for gold using soil geochemistry and follow up RC drilling. Anomalous gold values of up to 0.76g/t Au have been returned from the RC drilling. A program of RC drilling will follow up an assessment of the existing database.
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Norseman Project (Accent 100%)
The Norseman Project is located around 200 km south of
Kalgoorlie, about 5 kilometres south of the township of
Norseman, in Western Australia covering the historically significant Dundas Mineral Field.
Gold mineralisation at the main prospects Surprise and Iron Duke
at Norseman is associated with the Mt Henry Shear.
The host
rock for the mineralisation is a series of tholeiitic basalts with
minor interflow sediments. A silicified and sulphide rich shear zone
has produced banded grunerite-chert pyrrhotite, which weathers
to a banded chert-hematite/magnetite rock.
An RC infill drilling program for the Iron Duke prospects was
carried out during August 2003, January and February 2004, and
June 2004.
The
program was designed to intersect the mineralised structure down dip
from previous intersections and to test the northerly extensions of the
known mineralisation. The work confirmed earlier interpretations that
the gold mineralisation occurs in a 50 metre wide "envelope" of
moderately (west) dipping shears at grades up to 2.5g/t. However,
within this zone there occur sub-vertical, discontinuous lenses of high
grade (5 - 80g/t) material. The better intercepts are listed in Table
1, and a full list are in the Independent Geologists Report.
The
results of these drilling programs have extended the strike length of
the mineralised zone to approximately 360 metres. Mineralisation is
open to the north and to the south along strike and at depth. Accent
will carry out drilling to define a resource at Norseman and conduct
metallurgical test work to determine the best method for gold
extraction. Subject to satisfactory results an economic study will be
carried out. Accent will also seek to acquire an interest in similar
sized resources within approximately 100km radius of the Norseman
project with the objective of jointly exploiting resources.
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Meekatharra North Project JV 81% – Other Project Areas 100%
TANL
successfully tendered for this project when it became available from
WMC.The project consists of the Meekatharra North Joint Venture, and
three other project areas at Arcadia, Abernethy and Mingah Creek for a
total of 780 km2. All areas are strategically located with respect to
prominent regional structures within greenstone belts that host +2
million ounce gold deposits along strike (eg. Big Bell, Meekatharra and
Bluebird).
 The
large tenement package at Meekatharra is mostly under varying degree of
cover and represents an area containing significant regional and
subsidiary structures. Past exploration on the Hope River, Abernethy
South and Airstrip prospects and at Andy Well prospects (Wilber,Wendy
and Sandra) all within the Meekatharra North JV that included RAB/air
core and RC drilling has returned numerous intercepts of mineralization
within these significant structural corridors, as tabled in Table 2.
Significant
exploration following an extensive data review (already completed) will
comprise regolith mapping over some areas and drilling to outline new
targets. Programs of RC and diamond drilling are planned to follow up
the numerous prospects such as Hope River, Abernethy South and Wilber
with the aim of outlining gold resources amenable to both open cut and
underground mining methods.
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Katanning - Western Australia (Accent 90%)Accent has interests in a large area of tenure in the southwest mineral field of Western Australia which contains several areas of interest for vanadium mineralisation. The Katanning project is well served by infrastructure including road, rail, grid power and proximity to regional centres. Reconnaissance RC drilling has been conducted and identified significant vanadium mineralisation asociated with titanomagnetite within a geologically complex magnetic sequence. The values intersected are considered encouraging and warrant follow-up drilling to better understand the controls on mineralisation and to determine the extent of the vanadiferous units. The geological complexity of the mineralisation at the Katanning project is likely to require significant levels of exploration expenditure, however, previous exploration results reported by the company warrant some follow-up drilling. A core drilling program is proposed to test for extensions to mineralisation and to help understand the complex geology |
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