CSA Global (an ERM group company) has developed a Mineral System Model (ore genesis and structural geology model) to support the Company’s exploration efforts. The new models interpret the role of the intrusive Bushveld Complex as the main source of goldbearing fluids for the Eastern Transvaal Gold Fields (Figure 1*). These models have been used to refine areas for exploration both within the existing 620 km2 tenement package and on a regional scale.
The CSA Global Mineral System model interpreted that east-west structures (faults and joints) provided fluid pathways for mineralising fluids from the Bushveld Complex to the Eastern Transvaal Gold Fields (Figure 2*). Based on these new interpretations, Theta Gold is now assessing the regional exploration potential of the wider Eastern Transvaal Basin.
Theta Gold Chairman Bill Guy commented: “The Company has made strong progress in its understanding of geodynamic controls of the gold mineralisation processes at play in the Eastern Transvaal Gold Fields. The new understanding will promote the next exciting generation of local and regional gold exploration and target generation.
ASTER satellite data and regional magnetics will be reprocessed to form base maps for future exploration. Exploration is always exciting to define new resource targets locally and regionally. The exploration strategy will be carried out on three fronts; exploration to be regionally dominant player; resource development work to increase mine life; and development of the starter-pits Theta open-cut Project to become a highly profitable & sustainable gold producer.”
About Theta Gold Mines Limited
Theta Gold Mines Limited (ASX:TGM) (OTCMKTS:TGMGF) is a gold development company that holds a range of prospective gold assets in a world-renowned South African gold mining region. These assets include several surface and near-surface high-grade gold projects which provide cost advantages relative to other gold producers in the region.
Theta Gold Mines core project is located next to the historical gold mining town of Pilgrim’s Rest, in Mpumalanga Province, some 370km northeast of Johannesburg by road or 95km north of Nelspruit (Capital City of Mpumalanga Province). Following small scale production from 2011 – 2015, the Company is currently focussing on the construction of a new gold processing plant within its approved footprint at the TGME plant, and for the processing of the Theta Open Pit oxide gold ore. Nearby surface and underground mines and prospects are expected to be further evaluated in the future.
The Company aims to build a solid production platform to over 100Kozpa based primarily around shallow, open-cut or adit-entry hard rock mining sources. Theta Gold Mines has access to over 43 historical mines and prospect areas that can be accessed and explored, with over 6.7Moz of historical production recorded.
SOURCE: ABN NEWS
DATE: FEBRUARY 3, 2020