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Projects Overview
The Company’s initial exploration programme and objectives are to:
- Assess the nickel and gold potential of the Waite Kauri/Randwick projects, including immediate drill testing of the
southern extensions of GME Resources Limited’s oxide nickel deposits adjacent to the Company’s project area.
- Evaluate the Leonora East Project for its gold and base metal potential, including drill testing.
- Acquire and compile the historical data for all of the projects, and evaluate the data to advance the
exploration programmes, including the identification of drilling targets.
- Identify and evaluate other mineral exploration opportunities for acquisition, exploration and development.
The Waite Kauri/Randwick and Leonora East projects are centred within the Leonora-Laverton region and are
comprised predominantly of tenements with granted tenure and are in close proximity to historical or existing
gold or nickel resource positions. These projects have been assessed as highly prospective and are ready for
immediate drilling so as to facilitate a rapid and positive post ASX Listing start to exploration by Eagle Eye.
Waite Kauri Projects
The project area hosts a sub to outcropping sequence of intermediate volcanics, with
interlayered mafic and ultramafic units that are partially covered by alluvium/ colluvium.
This is an excellent geological environment to host both nickel oxide & nickel sulphide
mineralisation. The tenements directly adjoin GME Resouces Limited’s Waite Kauri nickel
oxide discovery, and the indications are that the mineralisation runs directly into Eagle Eye’s
Project area, to be tested by drilling soon after ASX Listing.
Randwick Project
The Randwick project lies 40kms to the north east of Leonora, and is on the northern strike
extensions of the structure that hosts the Randwick-Anglo Saxon gold workings and
surround these workings to both the west and north. This corridor hosts high grade gold
mineralisation and strikes into Eagle Eye’s project area. Drill testing of this structure will be
undertaken in concert with the exploration activities at Waite Kauri.
Leonora East Project
The project area covers an extensive strike length of prospective stratigraphy with known
gold and base metals occurrences. In addition the geological environment is not dissimilar
to that 50kms along strike to the north, where the Jaguar-Teutonic Bore copper-zinc-silver
deposits are found – exploration for these types of deposit has been limited to date.
Prospective gold and base metals targets have been identified for drilling as soon as
practicable after the Prospectus fund raising and ASX Listing programme is completed.
Mertondale Project
The Mertondale project is located 30kms to the northeast of Leonora and to the west of the recent gold mining
operations at Mertondale, where Navigator Resources are currently delineating a substantial resource position.
Exploration by Geopeko and Ashton Gold has generated a substantial surface gold anomaly, within Eagle Eye’s
project area, that has only been partially tested with RAB drilling, and requires further exploration.
Apollo Hill Project
The Apollo Hill project is located 46kms to the south east of Leonora, adjacent to Kookynie Terrane. The tenement
also lies adjacent and along strike from the Apollo Hill-Porkies resources, which reportedly contain a substantial
non-JORC compliant resource.
Erlistoun Project
The Erlistoun project is located on the Duketon Greenstone belt, 67kms to the north
of Laverton. The Project is prospective for both gold and nickel mineralisation. A
database of the previous exploration is currently being compiled from the historical
reports and will be utilized to further evaluate the tenement areas and to allow the
targeting of future exploration. The data indicates the potential for a significant
shallow gold resource, based on the initial evaluation of the historical data. The
‘Erlistoun Line’ is a series of historical gold mines that include the Erlistoun Queen,
Battler & Caledonia. These mines were operated at various times between 1900 and
1955 and were of particularly high grade, over 30 gpt Au. The presence of this tenor
of mineralisation provides strong encouragement for continued exploration; the
Caledonia workings are located within the western half of M 38/561.
Little Doris Project
The Little Doris project is located on the Duketon Greenstone belt, 56kms to the north of Laverton. The tenements
overlie a sequence of prospective greenstones that include amphibolite facies ultramafic, mafic and felsic volcanic
stratigraphy and lie on the eastern side of the Mt. Varden Transfer, a region fault structure. The tenements also
contain the historical ‘Little Doris’ workings. The ‘Little Doris’ mine was in production between 1898 and 1907 and
was of particularly high grade, over 42 gpt Au. The presence of this tenor of mineralisation provides strong
encouragement for continued exploration, especially for repetitions or extensions to the historical system.
Wandry Well Project
The Wandry Well project is located is 76kms to the south east of Leonora, 4kms to the north-west of the
historical gold mining centre of Yerilla. The tenements overlie a partially covered sequence of ultramafic, basaltic
and volcanoclastic greenstones on the western margin of the southern Leonora Greenstone Belt. Exploration
in the 1960s & 1970s focused on nickel mineralisation and included some drilling by both Cominco Exploration
& Australian Selection. Exploration since the 1980s has concentrated on gold mineralisation, with groups such
as Great Central Mines and CRA Exploration only having undertaken limited surface sampling and drilling.
The project is prospective for both gold and nickel mineralisation.
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