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Southern Crown Resources Limited (SWR)
is a publicly listed company on the Australian Securities Exchange (ASX).


{{businessSummary}}

General Overview

About Southern Crown Resources Limited

SWRSouthern Crown Resources is a mineral exploration company established for the purpose of acquiring, exploring and developing prospective mineral deposits.

During 2014 the Company signed an option deal with Afranex Pty Ltd to explore a package of highly prospective intrusion related gold system projects in Alaska, located in the same gold belt as the 45Moz Donlin Creek gold deposit.

The Company holds exploration tenements in New South Wales and Queensland with a total area of approximately 350 square kilometres, in established mining districts with proven mineral deposits and production by major mining companies.

The Dish Project is 20km east of the North Parkes Mine operated by Rio Tinto with total reported resources of approximately 2.25 million ounces of gold and 1.58 million tonnes of copper.

The Ropewalk Project is located 50km west of the historic Kidston Gold Mine that produced over 3.4 million ounces of gold during its 17-year life from 1985 to 2001.

Southern Crown listed on the ASX in December 2010 with exploration tenements in New South Wales and Queensland giving a total area under lease of approximately 80 square kilometres with additional tenements under application in Queensland.

These tenements are held in established mining districts that contain proven mineral deposits and production by major mining companies.

Objectives

The strategic objectives of the Company are to enhance Shareholder wealth through participation in the exploration, discovery and development of economic mining projects on mining tenure it owns or in which it may subsequently acquire an interest.

The Company is implementing exploration work programmes on its existing projects while continuing to evaluate additional exploration projects both within Australia and overseas.


Projects

The Luna-Quicksilver Project

The Luna-Quicksilver projects consists of the 133 claims totalling an area of 86km2, located 500km west of Anchorage in the South West Tintina gold belt of Alaska, a belt hosting Donlin Creek (45Moz@ 2.21g/t), Pogo (5Moz @ 12.45g/t), Fort Knox (produced over 5Moz), Livengood (20Moz @ 0.55g/t) and Shotgun (0.7Moz @1.02g/t).

The Kisa Project

The Kisa project comprising 38 claims (23 .6km2) and located 14km SE of Luna-Quicksilver was discovered as a colour anomaly that is visible from air-photography as a 'rusty' orange oxidized zone.

Geochemistry and geological mapping located a breccia pipe measuring 500m x 300m as well as numerous dyke and sills.

Six core holes were drilled into the breccia pipe in 2007 locating widespread low level gold anomalism with the best results 126m @ 0.65g/t Au.

The Ropewalk Project

SWRThe Ropewalk Project is located 35km south of Einasleigh with a total area of over 324 square kilometres. The project is located 50km west of the historic Kidston Gold Mine that produced over 3.4 million ounces of gold during its 17-year mine life from 1985 to 2001. This area is considered prospective for epithermal and intrusive related deposits.

The Ropewalk tenement was granted 3 August 2012. During the first hal f of 2013 the Company conducted a data compilation and a number of field reconnaissance exploration programs.

In March 2013, a Chinese owned company Australia Gold Mining Pty Ltd (“Aust Gold") announced a new JORC compliant Indicated Resource of 167,421 ounces discovered on Mt Jack ML 6781, a small 600m x 300m mining lease excised from the 100% Company owned Ropewalk EPM 17643.

The Mt Jack Line is delineated by a mineralized quartz vein located within a large regional ESE shear zone. The quartz vein can be traced onto the Ropewalk project for 1.8 kilometres and numerous historical workings are evident, including trenching and shallow mining by Union Mining in the late 1990's.

During the quarter ended March 2014 the Company received encouraging results from the 1433 metres RC drilling program completed on the Ropewalk pro ject in north east Queensland. The Phase 1 drilling program tested 720m of the east south east (“ESE") strike extent to the gold deposit discovered by Aust Gold at Mt Jack.

The Mt Jack Line that hosts these drill results and the Mt Jack deposit is delineated by a mineralized quartz vein located within a large regional ESE shear zone. The quartz vein can be traced onto the Ropewalk pro ject for 1.8 kilometres and Mt Jack Line numerous historical workings are evident, this included trenching and shallow mining by Union Mining in the late 1990's.

The mineralized shear can be traced in the drilling over the 720 metres of strike tested with anomalous silver and arsenic recorded in all holes drilled. Anomalous levels of above 50ppm arsenic highlight the shear zones in all holes. Arsenic levels above 100ppm (maximum 2,290ppm) are usually coincident with the gold and silver intercepts. Anomalous levels of copper, lead and zinc are also nominally coincident with the gold and silver intercepts but average below 500ppm.

Gold results from the drill program include:

  • RWRC003 returned 2m@6.04g/t from 32 metres, inc 1m@10.30g/t
  • RWRC004 returned 1m@22.80g/t from 32 metres
  • RWRC005 returned 3m@4.94g/t from 70 metres, inc 1m@11.50g/t
  • RWRC006 returned 6m@1.71g/t from 88 metres, inc 1m@5.50g/t
  • RWRC008 returned 5m@3.8g/t from 50 metres, inc 1m@6.88g/t

The prospect warrants follow-up, as the drilling highlighted good continuity adjacent to an existing deposit. The Company will now assess the drilling in more detail before planning a follow-up program.

The Dish Project

SWRThe Dish Project is located within the Parkes district of NSW approximately 30km south of the Tomingley gold project managed by Alkane Resources. The Dish Project is located within an area considered prospective for Wyoming – Caloma style gold mineralization as well as the Peak Hill style high sulphidation epithermal model.

A review of the exploration completed to date has resulted in a new exploration approach and defined a number of target areas requiring evaluation.

The Dish exploration licence is located approximately 15km SE of Peak Hill in western New South Wales and 20km east o f the 2.5Moz and 1.8Mt North Parkes deposit owned by Rio Tinto. The pro ject has structural, lithological and geochemical similarities to the Wyoming-Caloma gold discovery owned by Alkane.

The Company has completed a high resolution regional magnetic survey to locate new targets under cover. During the quarter Southern Crown engaged a geophysical consultant to prepare a preliminary interpretation of the magnetic.

The re-interpretation of the geology and structure based on the aeromagnetics has allowed for a better understanding of regional structures such as the NW trending transverse zones including the locally recognised Lachlan Transverse Zone. From the preliminary interpretation there is a correlation between existing mineralization and structure and many of the “prospective” structures remain unexplored. Further work is underway to complete the interpretation and targeting.

During the March 2013 quarter, Southern Crown completed a shallow hand auger geochemistry program over key coincident geological and geophysical 'prospective' targets.

A total of 701 samples were collected and submitted to ALS Orange for low level multi element analysis. Results in both gold and arsenic have highlighted the historic Emu and Great Britain prospects.

Maximum result was 50 ppb (54ppm As) from the Emu prospect with the anomaly averaging 15+ ppb Au and 20ppm As. The Great Britain prospect has a much tighter 25+ppb Au anomaly (10ppm As). The Eastern 4-7ppb anomaly located near Target 2 is low order and will require a field check.



Contact Info

Southern Crown Resources Limited

Level 4
100 Albert Road
South Melbourne, VIC
AU Australia, 3205

Phone: +61 3 9813 3882
Email: info@southerncrown.com.au
Website: http://southerncrown.com.au

Click here to view the interactive map
Southern Crown Resources Limited Google Map
Southern Crown Resources Limited Google Map

Share Registry

Computershare Investor Services Pty Limited - Click here to view share registry profile

Phone: +61 3 9415 5000
Fax: +61 3 9473 2500
Email: investor.relations@computershare.com.au
Website: http://www.computershare.com/

452 Johnston Street
Abbotsford, VIC
AU Australia, 3067


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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