MUNUKU PTY. LTD.

Munuku is a privately owned and registered Australian company.  The company has 7 exploration permits in 3 project areas for a total of 166,250 hectares in Cape York, Queensland, Australia.

Palmer River Gold, Tin and Tungsten Project – EPMs 25342, 25987 and 27601 (33,630 hectares)

EPM 25342 TEN MILE CK (Granted 2014)

The permit lies 150km NW of Cairns within the headwaters of the Palmer River, the richest historic alluvial goldfield in Queensland.  Since granted, exploration for hard rock sources has culminated in the discovery of an ore-shoot within the 400m long Munukurru Quartz Reef.  The style of gold mineralisation at Munukurru is orogenic with bonanza gold grades in rock chips assaying 3,187.0 g/t Au, 85.7 g/t Au and 66.7 g/t Au.

EPM 25987 WHITE’S CK (Granted 2016)

The permit lies some 6km SW of Ten Mile Ck EPM 25342.  Orogenic style Au-As mineralisation occurs in quartz veins, stockworks and breccias all within a distinctive 5km long x <300m wide belt of quartz arenite.  Rock chip sampling at the Nganjirr prospect within the arenite unit has returned assays up to 8.56 g/t Au and 16.2 g/t Au.

EPM 27601 PALMER TUNGSTEN (Application)

This permit application adjoins the southern boundary of EPM 25987 and covers the Permian Cannibal Creek granite batholith and turbidite country rock to the west.  Historic mining activity includes hard-rock tin (Cannibal Creek) and tungsten (Keddie Lode) in and around the batholith aureole and widespread alluvial gold and tin.  The potential for tantalum will also be assessed.

 

Yambo Inlier Gold and Rare-Earth Elements (REE) Project – EPMs 27606 and 27616 (66,070 hectares)

EPM 27606 KING RIVER (Application)

This permit application lies some 100 km SW of Laura and covers western portions of Paleoproterozoic rocks of the Yambo Subprovince, North Australian Craton.  Alluvial gold has been won along the lower Palmer River in this district where xenotime and monazite have also been recorded in heavy mineral concentrates.  Draining Yambo Inlier rocks, the significance of a number of historic gold, cerium, lanthanum and yttrium stream sediment anomalies within the King River catchment to the north of the Palmer River will be assessed.  Notably the strongest panned concentrate REE anomaly (assayed 5% combined Ce, La and Y) coincides with strong regional BLEG gold anomalies and drains a large 900 hectare ox-bow shaped Tertiary fluvial terrace deposit approximately 4km north of the present Palmer River channel.

EPM 27616 STEWART CREEK (Application)

This permit application abuts EPM 27606 to the east and covers central portions of Paleoproterozoic rocks of the Yambo Subprovince, North Australian Craton.

Approximately 21.5 km of the Palmer River without alluvial mining lease coverage runs through the Stewart Creek EPM 27616 and the eastern part of the adjoining King River EPM 27606.  Based on detailed (including 170 sampled test pits) historic alluvial resource estimates under previous Mining Lease tenures an exploration target of 35-40 million m³ @ 0.24 g/m³ Au and 2.5% heavy minerals is plausible (over 250,000 oz Au).   Heavy minerals recorded in previous assessments include garnet, monazite, ilmenite, zircon, rutile and xenotime.

To the north of the Palmer River, Devonian granites intrude the Mid Proterozoic metamorphic rocks within Stewart Creek and potential exists here for hard-rock gold and REE mineralisation.  In the Stewart Creek catchment, gold-bismuth quartz veins frequently occur in and around norites which also intrude the metasedimentary package.  Best results to date of this style of mineralisation include gossanous outcrops of 16.0 g/t Au and 9.0 g/t Au.

 

Coen Inlier Gold, Copper and Rare-Earth Elements (REE) Project – EPMs 27632 and 27633 (66,550 hectares)

EPM 27632 GOOSE CREEK (Application)

This permit application lies some 25 km SW of Coen and covers central portions of the Mesoproterozoic Savannah Province of the North Australia Craton.

The northeast corner covers the Lochinvar provisional goldfield where geological mapping, sampling and scout drilling has defined gold mineralisation in quartz reef-quartz vein structures seen in over 2km of strike length at Thornbury prospect.  A bulk sample of 23 tonnes collected at Thornbury in the late 1980s averaged 14.3 g/t Au and led to a pre-JORC indicated resource estimate of 72,800 t @ 2.75 g/t Au in northern sections of the Thornbury prospect to a nominal 30m depth.    The reef, hosted in schists and gneiss remains open at depth.  High grade gold shoots are known in the Coen district with a best outcrop rock chip recorded at Thornbury prospect of 114 g/t Au and a best channel sample of 4m @ 35.8m g/t Au.

A further 2km SE of Thornbury, the Gossan Hill prospect has an entirely different geochemical signature for the gold mineralisation to any other deposit seen in the Coen district with a best rock chip outcrop of 7.86 g/t Au.

Alluvial gold and heavy mineral targets exist in Thornbury, Station Creek and other creeks draining the Mesoproterozoic metamorphics.  Historic alluvial testwork suggests an exploration target at Thornbury Creek ranging from 120,000m³ to 200,000m³ at an average recovered grade of 0.7g/m³ Au with a monazite content estimated at 4-5 kg/m³.

Other areas of interest include over 20km² exposure of a Devonian allanite-biotite monzogranite and patches of aluminous laterite duricrust in the west which include bauxite.

EPM 27633 LUKIN RIVER (Application)

This permit application lies some 70 km SSW of Coen and covers central portions of the Mesoproterozoic Savannah Province of the North Australia Craton.

Alluvial gold and heavy mineral (including REEs) targets exist in Fish Creek and Lukin River particularly where the Lukin River alluvials debouch from a restrictive gorge onto a plain.

Detailed drainage sampling, grid mapping, soil and rock chip sampling and scout drilling has identified a significant copper mineralised system upstream from the gorge.

Encouraging porphyry copper style mineralisation attributes include:

  • The presence of a barren, brecciated, leached cap mapped at elevation in the west of the prospect area
  • Widespread copper mineralisation, detected in drilling over a 2 x 1.5 km area
  • A porphyritic rhyolite intruding a package of metasediments, both subjected to pervasive phyllic alteration with sericite, Fe-carbonates and marcasite
  • A long intersection of 105m @ 0.21% Cu and 0.08 g/t Au occurred from 51m downhole depth
  • This zone includes a clearly hypogene interval of 12m @ 0.15 g/t Au and 0.31% Cu from 96m depth in a silicified and brecciated porphyry intrusive which remains untested at depth.
  • Evidence of a thin supergene blanket repeatedly seen in drilling at the base of oxidation, including intercepts of 9m @ 0.60% Cu and 6m @ 0.71% Cu
  • Other drill intersections of 58m @ 0.2 % Cu, 44m @ 0.23% Cu, 34m @ 0.3% Cu and 33m @ 0.24% Cu confirm the widespread nature of the copper mineralisation.
  • Quartz pyrite veinlets observed both in host metasediment and intrusive rocks. Chalcopyrite observed as disseminations and in veinlets.

Further data compilation and interpretation are being undertaken to vector to the target higher grade hypogene copper-gold mineralisation.