Iron King Group

The Iron King Group comprises eight PLs around the historic Iron King and Victory Mining Centres located 45km NNW of Leonora and approximately 14km NW of St Barbara Ltd’s (SBL) “King of the Hills” gold mine.

The leases overlie a highly deformed and complex Archaean greenstone sequence intruded by numerous granitic and porphyry intrusions and Proterozoic mafic dykes.

The Iron King Group area lies directly along the NNW trending Gwalia Shear Zone (GSZ) that hosts the Sons of Gwalia Mine (6.86Moz Au) and the ‘King of the Hills’ (formerly Tarmoola) Gold Mine (3.68Moz Au). Gold endowment along the 35km long stretch of the GSZ linking these two major gold mines has been estimated to total 13.04 Moz Au (Fitton, 2011).

A small open-cut gold mine operated at Iron King during the period 1981-85 and producing 253.85oz of gold from 1,161t at 6.8g/t Au. At Iron King a major gossan occurs on the eastern side of P37/7195. This gossan represents a potential major base metal and/or gold target and has never been effectively drill tested.

FIG 8

Iron King Group Tenements showing Outcrop Geology and Kin Prospects

Four RC drill holes were drilled at Iron King for an advance of 370m. The holes targeted three separate gold prospects being Reeds United, Crystal Ridge and Blue Spec prospects. Several anomalous results (>0.2g/t Au) were returned from Crystal Ridge.

With a best result of 1m @ 1.64 g/t Au from 29m in hole XR14RC001.

Four new contiguous Prospecting Licences have been granted at Iron King, one of the prospects, following reconnaissance sampling, “32 Prospect”, returned a peak rock chip assay of 25.2g/t Au.

The Reeds United workings are located between Iron King and Crystal Ridge, and have returned rock chips with over 20 g/t Au from old workings spoils and mullock dumps, 14.97g/t Au from a nearby shallow prospecting pit and 3.89g/t Au from a costean immediately west of the Iron King open cut were obtained during recent rock chip sampling. The anomalous assay locations at Reeds United were tested with RC drilling in February 2014. No significant assay results were returned from the drill programme.

The Crystal Ridge area has been explored by a several companies in the past (Dominion, Jubilee, Forsayth and Dakota), with a small gold deposit being defined. The mineralisation remains open down dip and along strike. A small amount of additional drilling is required to assess the potential of the Blue Spec project.

The initial RC drill programme was terminated early due to the results of the first RC drill hole

Within the Iron King Project there are several prospects of interest that warrant additional exploratory work. Planning for some of these has been completed, while for the majority, detailed planning is yet to be completed.