The Riverina Project area is located approximately 45 km from Davyhurst Mill.
The project comprises gold resources defined at the Riverina, Silver Tongue, Forehand and Sunraysia deposits as well as a number of advanced exploration targets.
The company envisages early open pit development of the Riverina resources with the other deposits developed as secondary ore sources utilising the same mining fleet. There is a haulage road in place between Davyhurst and Riverina
GEOLOGY & MINERALISATION
The deposit occurs as a series of mineralised shears within a package of mafic and ultramafic volcanics. The mineralisation has a strike of approximately 1.2 km, and remains open along strike and at depth.
RESOURCES & RESERVES
The last JORC (2004) resource estimate for the project was compiled in 2008 based on past ASX releases and reports. The estimated was released in the Swan Gold Mining Limited 2013 prospectus released 13th February 2013 (Table 1).
Swan is currently in the process of validating and reinterpreting the geological models and supporting QAQC data and will be issuing revised resource statement in the coming months.
| ||(‘000t)||g/t Au||(‘000t)||g/t Au||(000t)||g/t Au||(‘000t)||g/t Au||(‘000 Oz)|
|Sunraysia|| || ||175||2.1||318||2.0||493||2.0||32|
|Riverina Pit|| || ||941||2.4||1664||2.5||2585||2.5||205|
|Forehand|| || ||386||1.7||436||1.9||822||1.8||48|
|Silver Tongue|| || ||155||2.7||19||1.3||174||2.5||14|
Table 1 - Swan 2008 Resource Figures
The table below summarises the cumulative gold production from the project based on the available records;
| ||Pre 1950||1950-1980||1980-2000||2000-2008|
| ||(oz Au)||(oz Au)||(oz Au)||(oz Au)|
|Riverina|| || 50,000|| ||5,000|
Table 2 – Riverina Project Production History
Previous operators have established the site for open cut operations. Swan intends to completed additional infill RC and diamond drilling to confirm the existing resource prior to finalising a revised mine plan. In addition the company intends to test below the historic underground workings as a source of high grade underground ore.
The company is concentrating open cut development on a series of shears to the east of the historical underground workings.
Silver Tongue and Forehand Deposits: These deposits are approximately 1 km east of the Riverina Deposit and within a similar rock sequence. The deposits are on granted mining leases. Additional drilling is required on each deposit prior to resource optimisation. Development of either resource is likely occur as part of a satellite operation to the Riverina development.
Sunraysia Deposit: Is approximately 5 km south of Riverina within a similar geological sequence. Further infill RC drilling is required to fully evaluate the deposit.
Other targets have been identified have been identified with the project area that required follow up evaluation.