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Paynes Find Gold Limited (PNE)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About Paynes Find Gold Limited

PNE

Paynes Find Gold Limited (“PFGL" or the “Company") is a publicly listed gold exploration company registered in Australia and based in Perth exploring for viable mineral deposits at Paynes Find, an historically significant gold producing region 420km Northeast of Perth, Western Australia and serviced by the sealed, Great Northern Highway and an airstrip.

PFGL has a significant tenement package that includes practically all of the historic Paynes Find Goldfield covering 940ha. Within PFGL's tenement area, which is some 5.5km long by 2km wide, ten major gold-bearing lode lines had been identified together with 36 historic gold mines that mined grades ranged from 15g/t Au to as much as 150g/t Au.

Since listing on the ASX (2 December 2010), the Company has completed geological and structural mapping at scales of 1:5000 and 1:2000 which has identified 41 gold mineralised quartz reefs over a width of 600m across the main northern section of the Paynes Find Goldfield. This is a significant increase on the 10 main reefs reported on in the Prospectus.

The mapping suggested an average quartz lode separation of approximately 15 metres. There is also geological evidence of lower grade “link" structures between the main high-grade gold lodes. The dense quartz vein mineralisation, in a strongly deformed quartz diorite host, has continuous outcrops over a strike length of at least 2,000m before dipping beneath laterite cover. Additional mineralisation has been identified over a total distance of at least 3,000m and within various rock types flanking the main goldfield.

History

  • PNE
    Paynes Find takes its name from Thomas Payne, who was the first prospector to register (1911) a lease for gold mining with the Mines Department of Western Australia.
  • During the 1930's, about 500 people lived with their families, prospecting for gold by underground and dry blowing, hoping to strike it rich. During World War II many men were called away leaving only a few families remaining.
  • The majority of gold mining has been confined to underground mining.
  • From 1911-1982 some 69,000t of ore produced 1,784kg (63,000 ounces) of gold at an average grade of 25 g/t Au.
  • The Taylor family had owned and mined the majority of the Paynes Find Gold leases since 1932.
  • In December 2010, Paynes Find Gold Limited acquired all the Paynes Find tenements held by the Taylor family as well as additional tenements in the Paynes Find area and was listed on the ASX.

Projects

Development

Since listing on the ASX (2 December 2010) the Company has:

PNE1. Completed geological and structural mapping at scales of 1:5000 and 1:2000 which has identified 41 gold mineralised quartz reefs over a width of 600m across the main northern section of the Paynes Find Goldfield. This is a significant increase on the 10 main reefs reported on in the Prospectus.

The mapping suggested an average quartz lode separation of approximately 15 metres. There is also geological evidence of lower grade "link" structures between the main high-grade gold lopes.

The dense quartz vein mineralisation, in a strongly deformed quartz diorite host, has continuous outcrops over a strike length of at least 2,000m before dipping beneath laterite cover. Additional mineralisation has been identified over a total distance of at least 3,000m and within various rock types flanking the main goldfield.

2. Conducted a preliminary MMI geochemical survey, the results of which indicate more widespread gold mineralisation than originally anticipated, particularly in areas of shallow soil and laterite cover.

MMI is a highly sensitive proven geochemical exploration method whereby Mobile Metal Ions, adsorbed onto the surface of screened soil particles, are dissolved using patented chemical extractants and analysed at ppb levels. This method is more sensitive than conventional geochemical methods.

3. Stage 1 drilling programme consisting of 3,800 metres has been completed with significant results in the 69 RC holes drilled within its 100% owned Paynes Find Gold project.

esults from the Stage 1 drilling programme, as shown in the Composite Cross Section 6763915 North, across the Northern end of the Stage 1 drilled area, confirm presence of near-surface gold mineralisation and that gold mineralisation occurs over widths potentially amenable to bulk selective mining.



Contact Info

Paynes Find Gold Limited

Suite 1
437 Roberts Road
Subiaco, WA
AU Australia, 6008

Phone: +61 8 9481 3992
Fax: +61 8 9381 1122
Email: info@paynesfindgold.com
Website: http://www.paynesfindgold.com

Click here to view the interactive map
Paynes Find Gold Limited Google Map
Paynes Find Gold Limited Google Map

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Phone: +61 8 9389 8033
Fax: +61 8 9262 3723
Email: admin@advancedshare.com.au
Website: http://www.advancedshare.com.au/

110 Stirling Highway
Nedlands, WA
AU Australia, 6009


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 05 Jun 2015.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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