Mount Garnet Project, Queensland (100% Snowmist; Arc has an option to earn 80%)
Located near the regional mining centre of Mount Garnet in Far North Queensland, the project comprises three Mining Leases covering about 150 hectares and a new exploration permit located east of these mining leases is under application.
The project lies within the Mt Garnet tin-base metal mining subdistrict of the Herberton Tinfield and at the southern end of a belt of Siluro-Devonian metasedimentary rocks intruded by Permo-Carboniferous granites that are host to the large Mungana/Red Dome gold-base metal skarn, quartz-stockwork and breccia deposits in the Chillagoe mining district, located about 100 km to the northwest of Mount Garnet.
One of the mining leases contains the 69,000-ounce Triple Crown gold deposit, a granite-related gold-breccia system on which historic drilling has produced some broad low-grade gold intercepts including 22 m at 2.33 g/t gold, 51 m at 1.73 g/t gold and 35 m at 1.39 g/t gold.
Triple Crown has only been drilled to a shallow depth (<200 m) and is believed to be open at depth. Planned ground work will further assess the potential for additional gold resources beneath and surrounding this shallow gold resource.
Views of Triple Crown hill hosting the Triple Crown gold resource