EXPRESSIONS OF INTEREST
Closing July 1st 2020 subject to COVID-19 restrictions.

FOR SALE

OPERATING GOLD MINE
HOMEWARD BOUND, MARBLE BAR, WESTERN AUSTRALIA

Permits and licensing approvals are current

A total of 69.1673 hectares

The 46m level and the sublevel development are at a stage where production can commence immediately

photo of homeward bound mine

Location – 190km S.E. of Port Hedland

Homeward Bound mine location map marble bar

Consolidated Exploration 1980 Results

exploration results assaying schist and quartz veins

Australian Shale & Coal 1983 Results

Tammie Two Long Section

Image of Tammie Two long section mine exploration

Stray Shot Long Section

Image of Stray Shot long section exploration

Ore/Stockpile

Processing/Battery etc.

  • Ore on the surface is approximately 500 ton

  • From sublevel development

  • Supported by assay results from 9gms to 930gms (ref: DDH HB010)

  • When the Govt. Battery was operating (since 1910) the surrounding leases were only permitted to mine to a depth of approx. 30mtrs. to protect the battery water reserves, therefore, drilling was only done to approx. that depth.

  • When the Battery was closed in 1985 that restriction was lifted.

  • The old Govt. Battery site (now closed) is a Designated Crushing/Treatment site allowing for future processing with 3 original Govt. Battery tailings dams available

  • Ore can currently be processed locally (~40 kms) at nearby processing facility under contract.
gold ore stockpile

Power & Water Infrastructure

Electricity
  • 3 phase 100amp grid power HORIZON Power
  • Plus back up generator: Cummins 33kva

Water
  • Marble Bar receives its water supply from bores, 2–3 km west of the town, close to the banks of the Coongan River

Large Dam onsite
  • Surface area 2600sqm and approx. depth 6m
  • Poly lined, fenced and 90mm poly line from mine to dam
  • All pumps automatic on float switches
  • 3 phase power cable underground from power board to dam – not live
  • Government approved and Potable
marble bar water tank
water dam at marble bar

Outstanding Opportunity

ML45/1255 HOMEWARD BOUND
  • Consolidated Exploration Ltd drill program on Outward Bound ore body proved 23,000t all above the 46m level. Assays average 12gm/t
  • The Homeward Bound ore body is intersected by a rise at 40m level – thus 17m vertical to previous workings. Surface work extends 100m west of shaft and 35m back to fault. Estimated to be 21,000t above the 46m level. Historical records average 26gm/t

ML 45/435A STRAY SHOT
  • Recorded production 266.6 kg gold from 4751.24t (ref: KH Morgan & Associates report 1983). From a CRAE drill program DH SS1 depth 24m-29m 5m wide assayed 19.4 gm/t
25 degree rise sublevel

Significant Underground Development

  • M R Millwood Pty Ltd collared shaft – 1200mm x 1800mm
  • Cement lined to 10m
  • Installed ventilation fan
  • Scaled down and rehab to 30m sump
  • Installed vacuum ore lifter – 250 steel pipe to surface
    – twin fan – 500hp Mercedes V12 at 1500rpm – fan speed 2500rpm
  • Capacity 5t/hour wet dirt – 10t/hour dry dirt
  • Commenced sinking – shaft 46m to main level
  • Loading station at 52m
  • Sump at 56m
  • Plat on main level 6m high x 8m long
  • Rise from loading station level Grizzly over rise on main level
  • Rise directly above grizzly cut Homeward Bound
  • orebody 6m up
  • 41m drive east
  • 13m up to sublevel to Outward Bound orebody
  • From sublevel, 8m rise to intersect DDH HB010
underground development of mine
quartz veins gold

PROMINENT QUARTZ VEINS IN SUBLEVEL

Good Test Results indicating a long productive Mine Life

Well located next to Marble Bar 190km SE of Port Hedland on Sealed Highway

World Best “Tier 1” Gold Field

Historical Exploration – Significant Events and Results

  • Recorded production for Homeward Bound & Outward Bound leases 1898 – 1935 – 5,036t ore – 4496 ozs gold (26.78 gms recovered).
  • 1980 – 1982 Consolidated Exploration Ltd conducted drill programs
  • 14 holes drilled – 8 intersected significant gold mineralisation.
  • 1982 report concluded probable reserves calculated to be 23,000t at 12 gms/t
  • Mineralisation discovered has been within/above Outward Bound East reef horizon. The lower of two previously worked reefs, the upper being the Homeward Bound reef. Both reefs dip at shallow angles (average 25 degrees) to the south west.
  • 7 holes have intersected significant values in the main auriferous body:
    • Highest – 915gm/t (32.8 oz/long ton) between 31.70m and 31.79m in hole HB010
    • 3.22m thick section in this hole gave a weighted average assay of 29.62gm/ton (1.06 ozs/long ton).

  • The widest mineralised section recorded in hole HB001 where a 13.47m thick section gave a weighted average assay of 3.11gm/t
  • No drilling has been done below 46m however the ore body is open at that depth and along strike.
  • 2006 M R Millwood Pty Ltd commenced rehabilitation of the existing shaft. A traditional airleg miner focused on development.
  • Current mining methods are:
    • Panther/air leg drilling
    • Twin drum scraper delivering to grizzly
    • To surface via vacuum sucker

Marble Bar Services

  • Shire of East Pilbara
  • Dept of Mines, Regulation & Safety
  • Police Station; Bar General Store, Australia Post and Bakery
  • Community Resource Centre
  • Nursing Post staffed by 2 remote area nurses; Royal Flying Doctor clinic every Thursday and in an emergency
  • Iron Clad Hotel; Travelers Rest Motel; Caravan Park
  • Marble Bar School (to Year 12)
  • Horizon Power
  • Airstrip – sealed – 1200m long. Planned $7 Million upgrade in 2021 allowing for 100 seat planes. Media Release 26th April 2020
  • Marble Bar Electrical
  • Fuel delivered when required
  • Explosives delivered when required by Dyno Nobel
sublevel drive west end of mine in marble bar

Regional Geology

Regional geology of marble bar
operating mining lease underground mine

EXISTING PLANT EQUIPMENT IN OPERATION

An Operating Mining Lease with all approvals and licenses granted and a long history of production

Equipment and Plant

  • Licensed Explosive Magazine
  • Mobile Headframe
  • Hoist
  • Power Supply with backup generator
  • Vacuum Ore Lifter
  • Air Supply with backup
  • Dewater Pumps
  • Ventilation
  • Drill
  • Scrapers
  • Air Powered Sledge
  • And much more (see pictures included for more information)
equipment and plant
mobile headframe plant and equipment
mobile headframe equipment
plant and equipment
generator equipment
equipment
equipment
licensed explosives magazine
facilities and amenities