Explorers look at old gold

EXPLORATION for gold and silver is under way near the old Mount Leyshon mine by Activex Limited and joint venture partner Ballymore Resources.

The joint venture has focused on the Seventy Mile Mount – Matthews Pinnacle area, with geological mapping completed and rock chip samples collected and tested.

A report to the Australian Securities Exchange said results from the area returned best rock assays up to 86.2g/t gold and 467g/t silver.

Activex is working on two fields in the northeast: the Pentland Gold Project about 100km west of Charters Towers, and the Ravenswood Gold Project located 60km south of Charters Towers.

In June this year, Activex said there would be a geological and geophysical review of the Mount Leyshon corridor, as well as soil sampling, infill IP survey and drilling

The Seventy Mile Mount – Matthews Pinnacle area, located within the Mount Leyshon corridor, is approximately 5km northeast of the now defunct mine.

Mount Leyshon Gold Mine operated from 1986 to 2002 with 3.8 million ounces of gold and 2.4 million ounces of silver produced.

In a presentation to investors, Ballymore Resources questioned whether the Seventy Mile Mount area was another Mount Leyshon, with not much exploration having been done in the area.

Ballymore Resources was successful in obtaining a Collaborative Exploration Initiative grant from the state government to drill in northeast Queensland to test a combination of metals in intrusive rock.

Queensland Resources Minister Scott Stewart said data collected by Ballymore Resources for this site would be available via the Open Data Portal, to encourage further exploration and mining investment in the state.