SIBERIA

The Siberia Project is a historical mine area located 30 km east of the Davyhurst Processing Plant. Open pits have been developed on a number of sets of historical workings, including Sand King, Missouri, Camperdown, Palmerstone and Theil Well.

GEOLOGY & MINERALISATION

The Siberia Trend is a 16 km zone covering the sheared ultramafic – basalt contact running south of the main Siberia workings to the Black Rabbit resource.  Along the trend a number of sets of substantial old workings have been developed on the basalt units close to the contacts at Consoles, Bonnie Doon and Consoles South. These have not been systematically tested as yet.  

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.
Deposit Measured Indicated Inferred

Total

  (‘000t) g/t Au (‘000t) g/t Au (000t) g/t Au (‘000t) g/t Au (‘000 Oz)
Sand King 516 3.1 935 3.0 1451 3.0 142
Missouri 98 1.7 831 2.0 909 2.2 1838 2.1 123
Palmerston/   Camperdown 118 2.3 174 2.4 292 2.4 22
Black Rabbit 434 3.5 434 3.5 49
Theil Well 18 6 18 6 3
Table 1 - Siberia 2008 Resource Figures

HISTORICAL PRODUCTION

The table below summarises the cumulative gold production from the project based on the available records;
Project Production Period
Pre 1950 1950-1980 1980-2000 2000-2008
(oz Au) (oz Au) (oz Au) (oz Au)
Siberia 147,700 25,292
Table 2 - Siberia Project Production History

TARGETS

The Theil Well Trend is situated on a sheared contact between Hi MgO and theoliitic basalts where the company has identified the New Mexico West and Charlie North Targets that require infill drilling. The company has recently completed pit mapping in the central Siberia area and considers considerable potential exists for down plunge extensions to the Sand King Deposit and is currently designing a drill programme to infill and extend the current resource. In addition, recent geological mapping has highlighted two mineralised trends within the project that offer the potential additional resources that have not been adequately tested.