Eridanus (Mt Magnet)

Eridanus pit looking East – showing Stage 2 Cutback progress

Eridanus is a new discovery (2017-18) and comprises of a large, low-grade felsic hosted stockwork style deposit. Gold mineralisation is associated with an east-west trending sericite-silica+pyrite altered granodiorite bound to the north and south by feldspar-phyric porphyry units.

The deposit is located, between the existing Lone Pine and Theakston (backfilled) pits, 1.6km south of Shannon.

Significant drilling and project development work was conducted during 2018 and 2019. The latest Ore Reserve stood at 2,100,000t @1.4 g/t for 95,000 oz (September 2023).

Eridanus deposit looking north, new results in yellow, previously released results in white (see December 2023 Quarterly Activities Report)