Battery Minerals completed the acquisition of 100% ownership of Gippsland Prospecting Pty Ltd on 22 October, 2020. Gippsland Prospecting Pty Ltd was granted the Exploration Licence EL6871 located in Western Victoria.
EL6871 is located within the Stawell Gold Corridor. The licence contains the historical Moyston Gold mine which produced 75,000oz at 22 g/t Au, as well as numerous historical gold workings coincident with prospective second and third order fault splays associated with the Moyston Fault. The exploration licence is also approximately 7km from the rich Stawell gold mine which has produced +5Moz of gold.
The 809km2 licence covers +40km strike of the highly prospective Mount Stavely Volcanics as well as a +40km strike length of the adjacent Stawell Gold Corridor. The Navarre Minerals Resolution Lode, which continues to deliver strong, consistent grades of gold mineralisation is situated just 6km to the east.
The Stavely magmatic arc is a highly prospective greenfields target which is prospective for volcanic-hosted base metals mineralisation and large scale Cadia Ridgeway-type porphyry copper mineralization. The Stavely Minerals Cayley Lode, which continues to produce outstanding Cu, Au, and Ag intercepts, is just 30km to the south-west.
Battery Minerals proposes to focus its exploration program on understanding the underlying geology and generating targets through ground and airborne geophysical surveys, geochemical work which includes soil and rock sampling and targeted drilling.
Figure 1: Location of EL 6871 adjacent to Stawell mine and Stavely tenure showing locations of key regional prospects
Figure 2: Prospect areas and historical exploration activity within EL6871