MUNDA GOLD PROJECT

The Munda Gold Project located approximately 34 km south west of Kambalda, Western Australia

MUNDA GOLD PROJECT

The Munda Gold Project located approximately 34 km south west of Kambalda, Western Australia and is conveniently situated approximately 4.3km west of the township of Widgiemooltha and 3km west of Mincor Resources’ Widgiemooltha Gold Project – with numerous gold toll milling facilities within economic trucking distance.

Estrella Resources Limited has received Programme of Work (POW) approvals required for the drilling of interpreted high grade gold structures, located in and around the historic Munda open cut gold mine. With the strength in the gold price the Company is looking at its options to unlock the potential of the high-grade Mineral Resource.

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HISTORY

Estrella is confident it is on the verge of unlocking the nickel potential of the Carr Boyd area. By combining the geophysical results of the upcoming DHTEM survey with advanced nickel sulphide geological modelling, Estrella is positive that the Company’s consultants can vector the next drilling program towards success.

Resolute Gold Mines Limited had planned to recover 18,000 ounces of gold from the Munda open cut mine –  to a depth of 60 metres below surface, however the dramatic fall in the gold price saw the mine only reach a depth of approximately 15 metres below surface.

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GOING FORWARD

Estrella Resources Limited – in Alliance with Blue Cap Mining Pty Ltd will pursue the development of the high-grade Munda Gold Project. Blue Cap Mining Pty Ltd  has reviewed the Munda Gold Project and believes it is worth pursuing on multiple key considerations including;

  • The project is located close to numerous gold ore processing solutions and infrastructure
  • The Munda gold ore grade is sufficient to lower project sensitivities
  • The Munda gold ore grade is sufficient to lower project sensitivities
  • Identified high-grade ore near surface capable of generating early revenue
  • Munda gold mine sits within a granted mining lease with previous mining history

Both Estrella Resources Limited and Blue Cap Mining Pty Ltd see benefit in an Alliance – where the distinctive resources of both entities are combined to bring the Munda Gold Project towards production.

The potential revenue from Munda Gold Project will enable the Company to aggressively pursue the exploration of its project areas which have already delivered some spectacular exploration results.