PROJECTS & OPERATIONS

TIBOOBURRA, NSW – 100% OWNERSHIP OF ALLUVIALS – JV WITH AWATI RESOURCES LTD - GOLD

Proto Resource’s only stand-alone gold project is at historic Tibooburra, north of Broken Hill, NSW. Proto Resources recently sold the rights to Tibooburra to Awati Resources Pty Ltd (“Awati Resources”) in return for an equity stake in Awati Resources. This transaction excluded the alluvial gold rights to the project which Proto Resources retains as part of the joint venture agreement.

The Tibooburra project comprises two contiguous exploration licences situated within the historic Milparinka-Tibooburra goldfield. Tibooburra hosts gold mineralisation as both alluvial gold and primary ‘mesothermal lode-gold’. Gold has been mined within the district for more than 110 years and exploration is supported by strong interest in gold due to attractive global prices.

Previous work on the project area by Proto Resources involved Mobile Metal Ion (“MMI”) sampling along the Phoenix-Pioneer and Warratta reef systems. This produced a number of broadly coincident gold-arsenic-silver anomalies which were later drill tested through an RC drill programme. The RC programme was designed to test the reefs at depth. In total, 22 holes were drilled for 2,125m. Drilling confirmed the interpreted narrow nature of the mesothermal mineralisation with economic gold values limited to narrow, sub-vertical quartz veins within the Precambrian slates. 

Proto Resources believes its joint venture with Await Resources is the best strategy to further explore gold potential at Tibooburra.

Tibooburra Drilling and Gold Occurrences

Drilling Work at Tibooburra, 2006