Gwanda East Au Project

The Gwanda East Project is located in the Gwanda Greenstone Belt southeast of Bulawayo and covers the Bucks Reef, Prestwood Mine, Sally Mine, Colleen Bawn Mine, Valley Mine and other smaller mines including Bye & Bye, Act, Beaufort, Wilson and Ettrick. These mines are situated within an almost contiguous block of claims, held by Prospect Resources, which cover approximately 25km2 of the productive gold bearing Gwanda Greenstone Belt.

Here a number of small gold deposits and mines lie proximal to and at the contact zones of monzonite intrusions with host greenstones, with the known strike extent of the monzonite contact being almost 6km (5kms of which is within Prospect’s ground).

The Bucks & Prestwood Mines consist of multiple veins in greenstones at or close to a monzonite contact. The Company is of the view that it is particularly prospective as it lies in the same geological setting as the nearby Farvic Gold Mine, located 4km to the east. The significance of mineralisation being intersected at the contact of the greenstones and monzonites cannot be overstated. This mineralisation style is very subtle, supported by the fact there is no surface expression at all at the Farvic Mine. The known monzonite extends for over 5km of strike, within ground held by Prospect.

The evidence of mineralised parallels, cross shears and the monzonite contact is very encouraging, particularly when considered with the geological model that has been refined by ground magnetics. Future surface work will consist of Induced Polarisation surveys to define sub-outcropping disseminated halos, followed by a short hole RAB drilling program to identify broader disseminated targets.

Prestwood Mine

The Prestwood Gold Mine was mined intermittently from the early part of the 20th Century until after WWII. It was then briefly mined again at the turn of the 21st Century. Prospect Resources acquired the property in 2014, and immediately began an evaluation exercise. The Prestwood Mine consists of multiple veins in greenstones proximal to a monzonite contact. The auriferous reefs are open ended down dip below to below 250m below surface. It is considered particularly prospective as it lies in the same geological setting as the nearby Farvic Gold Mine.

Prospect have completed ground magnetic surveys, followed by a limited RC drilling programme to assess the depth and strike extent of the historically mined mineralisation.

Prospect has been compiling all historical as well as recent drilling and geophysical data over the greater Gwanda Au Project, please see 3D flythrough below

Gwanda Au Project 3D Flythrough

 

Gwanda Au Project Magnetic Survey and interpretation

Bucks Reef Mine

The Bucks Reef commenced operations in 1902, and by in 1909 had the reputation of being the highest grade producer in the country. Work ceased on the northeast shoot in 1912, but continued intermittently on the south-westerly one until WWII. The premature closure of the mine was likely due to an in-efficient underground benching method mining, rather than grade issues. A total of approximately 1,443kg of gold (approx. 46,168oz) at 27.0g/t was produced over the life of mine.

Gold mineralisation is hosted as a series of birfurcating qtv vein ore bodies hosted within greenstones proximal to the northern edge of a monzonite intrusion. They are quartz filled shears that strike north north-east and dip steeply to the northwest. The two main ore shoots, a north easterly and a south-westerly one, were developed to 130m (4 level) and 300m (9 level) respectively. Both were accessed by vertical shafts the West and Bucks Main. Another reef on the west or hanging-wall side of the south-western shoot was opened up to about 70 m. Wall rock alteration with widespread arsenopyrite is reported between the ore shoots.

Artisanal activity in the vicinity of the Bucks Mine has continued to expose high grade mineralisation within a structure parallel to and inbetween the Bucks and the Prestwood Mines. The artisanal zone now extends for around 200m, and is producing high grades from both quartz veining and sheared metabasalt and monzonite lithologies. This zone exploits a shear zone that parallels the dominant SW-NE structures that host the Bucks and Prestwood orebodies

This is consistent with the intercepts from the 2014 RC drilling programme, and the current geological model.