Hampstead - Gold, Uranium and Base Metals
The Hampstead Project is located about 300 kilometres west southwest of Townsville in North Queensland and consists of 6 mainly contiguous EPM applications covering approximately 875 square kilometres.
The Project covers the southern extension of Georgetown Inlier, the same geological sequence that underlays the Percyvale and Greenvale Projects. The Project is considered prospective for gold, base metals and uranium.
The Running Creek EPM which covers approximately 15% of the total Project area and includes the south eastern margin of the Hampstead Project was granted in April 2008 and initial field reconnaissance was undertaken in June 2008. All other EPM applications are currently being processed and are not yet accessible.
Exploration by Utah Development in the Running Creek area in the early 1980s recorded multiple high grade uranium values (up to 1.38% U3O8) from rock chip sampling coincident with a large 8 x 8 kilometre radiometric anomaly. Reconnaissance by Glengarry to relocate the sites of this high grade uranium is planned for the coming year.
On the remainder of the Project area which has not yet been granted, previous exploration has defined a number of large gold anomalies. The most significant is the Area 4 prospect where Houston Oil defined a 2 kilometre long, plus 200 ppb gold-in soil anomaly in 1981 coincident with a major structure. Limited diamond core drilling by Houston Oil intersected up to 53 metres @ 0.5 g/t gold indicating potential for significant bedrock mineralisation.
Fieldwork will commence on the Area 4 prospect and a number of other targets when the other EPM applications at Hampstead are granted.