In for the long haul

摘要

Almost lost in the rush to find a new generation of resources in New South Wales is Central West Gold. However, that may be about to change. The junior explorer, which has a market capitalisation of just 2.5 million dollars, believes its time is at hand after exploring the state's back blocks since 1986. Headed-up by experienced geologist Lincoln McClatchie, Central West is currently drilling out a gold resource at Mount Solitary and Mount Solar, 160 kilometres south of Cobar. A 74-hole drilling program in ground similar to that of the major deposits at Cobar has outlined significant gold mineralisation. Another plus for the area is that early drilling at nearby Mount Solar has encountered copper and this in turn could provide a bonus credit to any gold mining operation at Mount Solar. McClatchie said: "We're excited with the drilling because of its similarity to Cobar-type deposits, which suggest there is the possibility of far greater vertical extensions than we have drill tested to date." Cobar hosts some of Australia's largest base and precious metal deposits, including Peak, Elura and the CSA mine. Central West's activities in NSW do not end at Mount Solitary. In particular the company has high hopes for its Oberon project.