Manna Hill
MANNA HILL GOLD PROJECT
100% MAGNETITE MINES OWNED
Discover the
Manna Hill Gold Project
The Manna Hill Gold Project is located in the Olary Province of northeastern South Australia, approximately 150 km south-west of Broken Hill and 325 km north-east of Adelaide. The tenement lies within a region that hosts several historic goldfields including Waukaringa, Teetulpa and the Outalpa Mining Centre.
PROJECT HIGHLIGHTS
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Gold tenement granted: Exploration Licence ELXXXX, prospective for gold mineralisation, has been formally granted to Magnetite Mines Limited by the South Australian Department for Energy and Mining.
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Historic gold workings: The Licence area is host to numerous shallow shafts, costeans and quartz lodes, with recorded gold production from selective underground mining activities.
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Vein-hosted mineralisation: The recorded exploration history indicates gold mineralisation associated with shallow quartz and sulphide-bearing vein systems.
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Low-cost acquisition: The Licence was secured via the standard South Australian application process, representing a capital-efficient addition to the Company’s growing tenement portfolio in South Australia.
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Market timing: Today’s gold price is 1,360% higher than it was when the last exploration drilling was carried out on the tenement in 1996.
Geology
Gold mineralisation in the district is hosted within folded sedimentary rocks of the Adelaide Fold Belt, particularly units of the Farina Subgroup. Mineralisation is typically associated with quartz ± sulphide veins developed along fracture systems related to regional folding.
Historical reporting describes gold occurring with arsenopyrite, pyrite and iron oxides within quartz veins hosted by spotted siltstones and sandstones. The mineralisation style is interpreted to be epigenetic, introduced by hydrothermal fluids during deformation events in the Delamerian Orogeny.
At the Boomerang prospect, widespread quartz veining extends over an area of approximately 300 m by 1,100 m and includes numerous shallow workings, indicating past mining activity targeting high-grade gold-bearing quartz veins.
Previous Work
The Manna Hill district has been the subject of exploration and mining activity for more than a century. The most significant periods of work occurred during the late 19th and early 20th centuries, when initial discoveries led to small-scale underground mining, and again during the 1990s, when modern exploration techniques were applied to assess the district’s gold potential.
Turn of the century exploration and mining activities
At the Boomerang prospect, historical records indicate small-scale underground mining targeting high-grade quartz–sulphide veins. Government open-file records reference production of ore reflecting selective mining of very high-grade gold ore in the early 1900’s. Numerous shallow shafts, costeans and small stopes remain evident across the prospect area, demonstrating the extent of early workings focused on narrow quartz lodes.
1990s Exploration
An exploration program was undertaken during the 1990s by previous tenement holders, representing the most comprehensive modern assessment of the district to date. Work programs included detailed geological mapping, surface geochemistry and reverse circulation (RC) drilling.
A total of 56 RC drill holes for 1,218 metres were completed at the Boomerang prospect in 1996 by Climax Mining. The drilling was designed to test near-surface quartz vein swarms suitable for shallow open cut mining extraction. While gold was intersected in several holes, the program concluded that mineralisation at the depths tested was sub-economic under the economic assumptions and metal prices prevailing at that time.
Importantly, the drilling was limited to testing shallow, weathered zone potential and did not systematically test deeper structural targets or alternative mineralisation models within the broader tenement area.
NEW TENEMENT GRANTED
BRAEMAR CREEK (EL7100)
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Adjacent to EL6126 (Ironback Hill)
license covers approximately 227km2
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Secures downstream drainage corridors
interpreted to be associated with the shallow, clay-hosted REE mineralisation previously reported at Ironback Hill.
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No exploration activities have yet taken place
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Planned objectives:
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Compilation and review of existing data
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Refinement of regolith and drainage-based REE targets
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Reconnaissance mapping and surface geochemical sampling along priority drainage systems.
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Potential follow up drilling
contingent on results of planned objectives above.
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Adjacent to EL6126 (Ironback Hill)
license covers approximately 227km2 -
Secures downstream drainage corridors
interpreted to be associated with the shallow, clay-hosted REE mineralisation previously reported at Ironback Hill. -
No exploration activities have yet taken place
-
Planned objectives:
-
Compilation and review of existing data
-
Refinement of regolith and drainage-based REE targets
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Reconnaissance mapping and surface geochemical sampling along priority drainage systems.
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Potential follow up drilling
contingent on results of planned objectives above.
Manna Hill Gold Project
Next Steps
The Company intends to undertake a staged, low-cost review commencing with compilation and digitisation of historic datasets, validation of key geological observations in the field and development of updated exploration targets. The proposed work program includes:
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Land access and approvals: Subject to native title processes, stakeholder engagement and statutory permits prior to ground disturbance.
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Data compilation: acquire, collate and digitise relevant Government (DEM) open‑file datasets (geology, geochemistry, historic workings, sampling, drilling where available).
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Verification planning: field reconnaissance to confirm access, locate historic workings and validate key geological observations where possible.
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Modern target generation: integrate geology and structure with available geochemistry and geophysics to define priority targets for follow‑up.
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Follow-up programs (subject to results and approvals): systematic geochemical sampling and/or geophysics and drilling to test priority targets.
Disclaimer
Cautionary Statement – Historical Information
This announcement contains references to historical exploration results and production data sourced from South Australian Government open-file reports. The Company has not independently verified the historical information and it is not reported in accordance with the JORC Code (2012). A Competent Person has not done sufficient work to classify the historical results as Mineral Resources or Ore Reserves. There is no certainty that further exploration will result in the delineation of a Mineral Resource.
Forward Looking Statements
This announcement may contain forward-looking statements. Such statements are only predictions and are subject to inherent risks and uncertainties. Actual results may differ materially from those expressed or implied.