Merger with Impact Minerals
2012 Annual Report
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Incorporated on 20 August 2010 Invictus Gold Limited has been established to explore primarily for deposits of gold, gold-silver, gold-copper and gold-copper-molybdenum.
Invictus Gold has a large number of tenements and tenement applications in the east central and southern areas of Queensland. This ground is very prospective for World Class deposits of gold, gold-silver, gold-copper and gold-copper-molybdenum associated with porphyry intrusive centres. There is also excellent potential in many areas for bulk-mineable multi-vein and stockwork deposits of gold (silver-copper), and for disseminated bulk-tonnage deposits of the speciality metals, especially molybdenum and tin. Details on the geology of these areas can be found under the projects page of this website.
Invictus also intends to build the business with a vigorous campaign of project evaluation and project generation for potential acquisitions and farm-ins, both in Australia and overseas. To that end, Invictus announced in 2012 the acquisition of an option to purchase 100% of the Himmetdede South Project in the emerging mineral province of central Anatolia in Turkey.
Invictus considers Turkey to be a very attractive destination for exploration and has made the decision to expand its operations into this country because it is:
- very prospective for the discovery of major gold and gold-copper deposits. In particular most of the country lies within the Tethyan Metallogenic Belt that is host to many multi-million ounce gold and multi-million pound copper deposits;
- very poorly explored despite a long history of mining; and
- has a positive fiscal and legislative regime for mining.
Invictus Gold has also recently acquired the high grade gold silver base metal Commonwealth Mine Project in New South Wales.
Invictus has a Board that includes two globally experienced geologists with an established track record in the discovery of significant gold deposits in Australia and Africa and about 60 years combined industry experience and knowledge with major and international resource companies. The Company's Chairman, Mr Peter Unsworth, has extensive experience in the mining, finance and other sectors of Australian business.
COMMONWEALTH PROJECT (NEW SOUTH WALES, AUSTRALIA)
A major gold-copper Volcanic Massive Sulphide (VMS) system in New South Wales.
- High grade gold-copper-silver-lead-zinc deposit with preious production of 6,476 t at 6 g/t gold, 150 g/t silver, 2% copper, 15% zinc and 7% lead,mined in the early 1900’s;
- Historic resource of 83,000 t at 16.5 g/t Au eq (inc. 5.9 g/t Au, 275 g/t Ag, 11.4% zinc, 3% lead and 0.3% Cu for 44,000 oz Au eq (non-JORC compliant);
- Very high grade true width underground drill results from the VMS deposit including:
7 m at 6.2 g/t gold, 346 g/t silver, 0.22% copper, 3.2% lead and 9.2% zincin Hole CM85-1;
3 m at 8 g/t gold, 158 g/t silver, 0.1% copper, 0.8% lead and 2.9% zincin Hole CM85-2; and
6 m at 4 g/t gold, 124 g/t silver, 0.5% copper, 2.5% lead, 18.5% zincin Hole CM85-3.
- Significant potential for gold-and silver-only mineralisation along strike and in the footwall of the VMS deposit with drill intercepts of up to:
30 m at 6 g/t Au and 17.2 g/t Ag from 24 m including 2 m at 77 g/t Au in Hole PHC4;
28 m at 2.3 g/t gold and 19 g/t silver from 32 m in Hole PHC09.
DRUMMOND BASIN PROJECTS (QUEENSLAND, AUSTRALIA)
Recent porphyry discoveries at Anthony (>500 Mt) and Rosevale confirm the potential of the Drummond Basin to host large bulk tonnage deposits.
Large 100% owned tenement holding prospective for porphyry gold-copper-molybdenum similar to Cadia/Ridgeway (>26 M oz Au, 4.9 Mt Cu), Lachlan Fold Belt, NSW;
Also prospective for the discovery of new high grade epithermal veins similar to the Pajingo Mining Centre >4 M oz Au;
Invictus Gold is focused on Clermont and Drummond North;
Multiple soil geochemistry and geophysical anomalies;
Identified a 10 km trend of gold-copper epithermal mineralisation from Retro to Nanya;
Identified two mineralised porphyries: East and West Scartwater Porphyries.
- Epithermal Au-Ag-Cu-Pb-Zn mineralisation along the 10 km Retro fault system;
- Defined a Target Mineralisation of: 220,000 to 268,000t at a grade of between 2.2-2.7 g/t Au, 20-25 g/t Ag, 0.4-0.5% Cu, 0.9-1.1% Pb and 0.5-0.6% Zn for a contained 38,000 to 43,000 oz Au eq at Retro Extended;
- A further 10 targets have also been identified for further work.
DRUMMOND NORTH PROJECT
- Highly prospective belt for bulk tonnage Au-Cu deposits along a 50 km long structural trend;
- At the Carey Guille Prospect, a north-east trending diorite stock 600 m by 400 m intrudes the Anakie Metamorphic rocks and rock chip sampling and trenching indicates 110 metres of continuous porphyry-style mineralisation that averages 0.36 g/t Au and up to 3.4 g/t Au and nearby areas up to 0.27% copper and 90 ppm molybdenum. A circular modest airborne magnetic anomaly 2 km by 1 km in size occurs coincident to the east. Porphyry gold-copper mineralisation associated with the mapped diorite has not yet been drill tested.
KILLARNEY PROJECT (QUEENSLAND, AUSTRALIA)
- Eleven Porphyry Intrusive Centres have been identified for follow up work, some with significant previous drill intercepts, including 10 m at 1 g/t gold and 48 m at 0.2 g/t gold, and other indicators of very large mineralizing systems;
- The project is particularly prospective for bulk-mineable deposits of gold-silver-copper such as the recently discovered Silver Hills deposit (>2 Moz gold) near the Company's projects.
HIMMETDEDE SOUTH PROJECT (TURKEY)
- The Himmetdede South Project is south west of and adjacent to the Himmetdede gold deposit owned by major Turkish company Koza Gold A.S and is also along strike from another prospect with very high grade drill results of up to 2 m at 225 g/t (7.5 oz) gold owned by a private Turkish company.
- The Himmetdede gold deposit has a measured, Indicated and Inferred resource base of 31 Mt at 0.7 g/t gold for a contained 800,000 ounces of gold and is undergoing feasibility studies as an open pit and heap leach operation.
- The alteration zone, the thrust fault and the host limestone at the Himmetdede gold deposit all extend south west into the Himmetdede South project area.
- Results from the maiden drill program in 2013 returned 1m @ 21 g/t gold.
- Rock chip samples from quartz veins returned up to 13 ounces of gold. Drill testing is required.