Tanami JV Project – Ramelius 85%
Location and Access:
The Tanami Joint Venture Gold Project is located 520km west northwest of Alice Springs and 840km east southeast of Broome (Western Australia) in the central Australian Tanami Desert. Access to the project is via the graded Tanami Road from Alice Springs.
Ramelius Resources Ltd holds 85% equity in its joint venture with ASX listed Tychean Resources (ASX:TYK), 15%. Tychean is free carried to any decision to mine, at which time it may elect to contribute or convert to a 1.5% net smelter return (NSR) royalty.
Geology and Mineralisation:
The Tanami JV Project is located within 100km of Newmont’s Granite’s Treatment Plant and their plus 6.0Moz Callie Gold Mine. The district remains highly prospective, as an under-explored gold province in Australia. The region consists of lower Proterozoic variably metamorphosed sedimentary and volcanic rocks of the Granites-Tanami Block and sediments of the Birrindudu Basin. The Proterozoic rocks are overlain by Cambrian Antrim Plateau basalts.
There is a lack of outcrop in the Tanami and the regolith is complicated by a network of palaeochannel drainages, east west trending longitudinal sand dune sets and post mineralising basalt flows (up to 60m thick) which have hampered/restricted exploration programmes in the past.
Gold mineralisation in the Tanami district occurs in a variety of host rocks including iron formations, mafic sills, turbidites and siltstones/greywackes in a range of litho-structural settings. The Company intends to focus on discovering buried Callie-type gold deposits within magnetically quiet laminated and decalcified sedimentary stratigraphy and hence not subjected to historical more typical magnetic dolerite and/or magnetic BIF hosted gold deposits in the Tanami.
Much of the exploration ground has been rationalised and future exploration will focus on the Officer Hills South EL