11 March 2010

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Citadel - Gold, Copper and Uranium

The wholly owned Citadel Project is located in northwest Western Australia approximately 400km east of Karratha and 1,300km north northeast of Perth.  The Project occurs within the Proterozoic Paterson Province and covers over 1,400km² of highly prospective stratigraphy.  The Paterson Province hosts the world class Telfer Gold Mine (26M oz gold and 1M tonne copper), the Nifty Copper Mine (1M tonne copper) and the Kintyre uranium resource (36,000 tonnes U3O8).

 

Glengarry Resources Limited believes the Citadel Project is prospective for the discovery of world-class gold, copper and uranium deposits.

 

Previous exploration in the Citadel Project area has been undertaken by BHP (1991-1997), Croesus-Gindalbie (1997-2002), Teck Comminco (2002-2003) and NGM Resources (2004-2005).  The Croesus-Gindalbie Joint Venture identified significant gold plus copper mineralisation at the Magnum Prospect after following up results of BHP’s regional exploration.  Better drill hole intersections recorded at Magnum include:

• 8m @ 3.5g/t gold and 4.4% copper from 279m

• 4m @ 11.7g/t gold from 261m

• 15m @ 14.1g/t gold from 464m

• 5m @ 1.23g/t gold and 2.43% copper from 211m

The high grade gold mineralisation at Magnum remains open along strike and down plunge to the north beyond the best intersection of 15m @ 14.1g/t gold.  Excellent potential remains to delineate a multi-million ounce resource hosted by a series of high grade (plus 10g/t Au) sub vertically dipping, laminated, quartz-sulphide veins amenable to selective underground mining.

 

The prospective Proterozoic stratigraphy within the Project is completely covered by Permian fluvial-glacial sediments 50 to 75m thick; however, previous exploration comprising aircore drilling to the base of the unconformity and regional geophysical surveys has allowed Glengarry to identify a number of priority targets beyond the Magnum prospect.  Multiple drill ready exploration targets have been identified where there is coincident geophysical and geochemical anomalism in close proximity to known mineralised structures.  The targets occupy favourable litho-structural settings prospective for Telfer, Nifty and/or Kintyre style mineralisation within variously defined structural models. 

 

A re-interpretation of Paterson Province Proterozoic stratigraphy by the Geological Survey of WA in 2004 suggests that the rock units in the Citadel Project area are the faulted equivalents to those that host the Telfer gold and Nifty copper mines in the southern part of the Province.  The latest interpretation is supported by the most recent phase of exploration and confirms that the Citadel area is as prospective as the southern part of the Paterson Province.

 

Future exploration on the regional targets will require additional aircore drilling to the base of Permian unconformity to determine the dimensions and amplitude of the geochemical signature(s). 

 

Access agreements have been negotiated with the Traditional Owners of the Project Area. 

 

Additionally, during late 2008 the Company completed Heritage Surveys over 18 proposed drill targets.  Drill ready targets exist within the Project area.

 

 

Figure 1: Citadel Project Location Plan		Figure 2:  Magnum Prospect – Drill Section