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Perth, Western Australia Perth, Western Australia Perth, Western Australia Perth, Western Australia
November 9 - 10 21 November 9 - 10 21 November 9 - 10 21 November 9 - 10 21

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October - December 2021 Volume 1. Issue 145
$11.95
Registered by Australia Post PP 643938/00057












Havieron the Great:
Reviving the Paterson

04 NEWGENGOLD PREVIEW
ISSN 1324-4396 771324 439005 AFRICA FOCUS
9 INNOVATION FEATURE

Preview Review

Presentations



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Opening Address: Keith Yates AM Fenix Gold Project

Keynote Address: Geological Survey of Victoria Havieron
Keynote Address: Geological Survey of Western Australia Winu-Ngapakarra

Cayley Lode Tower Gold Project

Hemi Lake Rebecca

Wharekirauponga Black Pine

Séguéla Bankan

Koné Gold Project Napié

El Zorro

21
Perth, Western Australia
November 9 - 10



















Jointly organised by:



Keith Yates & Associates Pty Ltd

My name is Keith Yates and on behalf of the joint organisers, Paydirt Media and myself, I welcome you all to NewGenGold 2021,



the fourteenth in the biennial series of this event which began in 1995. We also extend a special welcome to all our delegates in



Australia and overseas who, because of Covid travel restrictions, are viewing this conference online.








I would like to set the scene for what is ahead of us over the next two days.

Gold spot price – 1995 to present ($US per oz) ($AUS per oz)


2800

2600
Peak - Aug 20 - $US2067
2400
Peak - Aug 20 - $AU2874

2200

2000

1900


1800
US$ per ounce 1600


1400


1200

1000

800


600

400

200



Dec 95 Dec 96 Dec 97 Dec 98 Dec 99 Dec 00 Dec 01 Dec 02 Dec 03 Dec 04 Dec 05 Dec 06 Dec 07 Dec 08 Dec 09 Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 Dec 17 Dec 18 Dec 19 Dec 20 Nov 21

Since our last conference in November 2019, we have seen a sustained rise in the $US gold price from the vicinity of $1500
to break through the $2000 mark for the first time and reach an all-time record high of $2067 on 6 August 2020. This is a far

cry from the price of $1080 at this meeting in 2015 or $1275 in 2017! The price stayed above $2000 for a few days before
settling back and for the past 12 months it has broadly hovered around $1800—still a very healthy price for producers.
Today’s price is $1825.


The $A gold price has broadly tracked the trends in $US gold prices and it also reached an all-time record peak of about

$2874 in the first week of August 2020. It has since settled back and is cycling around the $2400 mark. Today’s price is
$2450.


It goes without saying that the sustained high prices for gold have translated into elevated gold production and the most
buoyant company profits we have seen in years.

Million Oz Australian gold production (moz) versus gold exploration expenditure ($A) $A Million
1500
24

1400
22

1300
20
1200
18
1100
16
1000
14

900
12
800

10
700
8

600
6

500
4
400

2
300

0
90-91 92-93 94-95 96-97 98-99 00-01 02-03 04-05 06-07 08-09 10-11 12-13 14-15 16-17 18-19 20-21 Sources: Surbiton and ABS

Based on figures compiled by Surbiton Associates, Australia’s gold production has exceeded 10 million ounces per annum
for the past three financial years with a record of 10.55 million ounces produced in 2019/20 just exceeding 2018/19 and
1997/98, all of 22 years earlier! Of interest is that over the six months ending 30 June this year Australia finally exceeded

China as the world’s No1 gold producer, a position it has held since 2007. It remains to be seen whether this ranking can be
maintained especially in the light of the outstanding discovery achievements we will be hearing about in the next two days.


Suffice to say that the buoyant conditions being experienced by gold producers from increased production, revenues and
consequent cash flows have resulted in a very substantial increase in gold exploration budgets. Additionally, smaller sized

explorers have benefited from vastly improved investor sentiment resulting in substantially increased amounts of funds
raised. It is also noteworthy that in the past two years the healthy cash flows and elevated fund raising has resulted in an

increased emphasis on greenfields exploration. This can only augur well for the discovery process.

This fortuitous combination has had a dramatic effect on the level of gold exploration in this country as reflected in ABS

statistics. As is evident on the red graph, since 2016/17 the nation’s gold exploration expenditure has more than doubled,
while in the 2020/21 financial year it has risen to a staggering unprecedented high of 1.53 billion dollars! The stars are

indeed aligned in the realm of gold production and exploration to the marked benefit of the Australian economy. We are in
the midst of one of the most substantial gold booms in the nation’s history.

Conference Programme

2.30pm Côte The Koné Gold Project, Côte d’Ivoire: 11.15am Canada The Tower Gold project: Defining a new gold
Monday 8 November (V) d’Ivoire Persistence pays off (V) camp in Canada’s largest gold producing belt
3.00pm Registration Open Hugh Stuart Gary O’Connor
5.00pm Welcome Reception Montage Gold Corp. Moneta Gold Inc.
Exhibition Area, Pan Pacific Hotel 12.00pm Lunch sponsored by Northern Star
3.15pm Afternoon Tea
Tuesday 9 November SESSION FOUR: Chair: Tara French, Chief Executive Officer, Resources Limited

08.00am Arrival Tea, Coffee and Registration Cazaly Resources Limited SESSION SEVEN: Chair: Cameron Switzer, Regional Exploration
Manager - Asia Pacific, Newcrest Mining Limited


09.00am Welcome and opening 3.45pm Chile Emerging Discovery
Keith Yates AM and Bill Repard The El Zorro Gold Project – An Intrusion 1.00pm Australia Lake Rebecca Gold Project – An intriguing >1moz
related Gold Deposit in Chile’s Coastal Cordillera discovery in an Eastern Goldfields gneiss belt
SESSION ONE: Chair: Keith Yates, Co-organiser Zeff Reeves Nick Castleden
09.15am Australia Keynote Address: Victoria – Laying the Tesoro Resources Limited Apollo Consolidated Limited
(V) groundwork for an integrated systems 4.15pm Chile The Fenix Gold Project: An Epithermal Low 1.45pm USA Black Pine, Idaho, USA: A Multimillion Ounce,
approach to tectonics and mineralisation (V) Sulfidation Gold Deposit in the Maricunga Carlin-Type Gold Oxide Deposit Hiding in
Ross Cayley Belt, Chile (V) Plain Sight
Geological Survey of Victoria
Enrique Garay Dr Moira Smith
10.00am Australia The Discovery of the Cayley Lode Copper- Rio2 Limited Liberty Gold Corp.
Gold-Silver Lode-Style Mineralisation in 5.30pm Pre-dinner Drinks sponsored by ABC Refinery 2.30pm Afternoon Tea
Western Victoria, Australia 7.00pm Dinner sponsored by Newcrest Mining Limited
Chris Cairns Grand River Ballroom, Pan Pacific Hotel SESSION EIGHT: Chair: Dominic Piper, Editor Gold Mining Journal
Stavely Minerals Limited
Wednesday 10 November 3.00pm Guinea Bankan: A new gold discovery in the
10.45am Morning Tea sponsored by First Quantum Siguiri Basin, NE Guinea
Minerals Limited 08:00am Arrival Tea, Coffee and Registration Bianca Manzi
SESSION TWO: Chair: Lynda Burnett, Principal, GeoLucid SESSION FIVE: Chair: Keith Yates, Co-organiser Predictive Discovery Limited
11.15am Australia Discovery of the Hemi gold deposit – 08.30am Australia Keynote Address: New constraints on the 3.45pm Côte Emerging Discovery
d’Ivoire
The Napié Project: An Emerging Discovery

Redefining gold exploration in the Pilbara, evolution of the Paterson Orogen and in Côte d’Ivoire
Western Australia basement to the Canning Basin Ann Ledwidge
Philip Tornatora Dr Simon Johnson Mako Gold Ltd
De Grey Mining Ltd Geological Survey of Western Australia
12.00pm New Wharekirauponga: A low-sulphidation epithermal 09.15am Australia Havieron Gold-Copper Deposit: Next 4.15pm Forum - Convenor: Dominic Piper
(V) Zealand gold-silver discovery in New Zealand (V) Generation of Undercover Discoveries Philippa Sivwright Newmont Australia;
Lorrance Torckler Benjamin Ackerman Philip Tornatora De Grey Mining Ltd;
OceanaGold Corporation Newcrest Mining Limited/Greatland Gold plc Justin Osborne Matador Mining/ Hamelin Gold;
Jamie Rogers Northern Star Resources Limited
12:45pm Lunch sponsored by Northern Star Resources 10.00am Morning Tea sponsored by First Quantum What factors have come into play in recent
Limited Minerals Limited years to crystallise Australia’s exceptional
SESSION SIX: Chair: Philippa Sivwright, Director Regional success in the greenfields discovery of
SESSION THREE: Chair: Jamie Rogers, General Manager Exploration-Australia, Newmont Australia
Exploration, Northern Star Resources Limited multi-million ounce deposits?
1.45pm Côte Séguéla, Côte d’Ivoire: A developing high- 10.30am Australia The Winu-Ngapakarra copper-gold deposit; 5.30pm Closing Drinks sponsored by The Perth Mint
d’Ivoire grade gold camp discovery, geology and resource definition The Perth Mint (Heritage Site), 310 Hay St, East Perth
Paul Weedon Hilke Dalstra
Fortuna Silver Mines Inc. (Roxgold Inc.) Rio Tinto Limited
(V): Virtual Presentation * This programme is subject to change

Delegates will firstly note that this year, because of Covid constraints, we are holding a hybrid conference in which our
overseas speakers and two in Australia will be giving virtual presentations. It should also be noted that these are in the
minority and, as you will see in your pocket programme, no one session contains two virtual presentations. Our speakers

will be available online for questions at the close of each paper.




With regards to the programme, delegates will note that there are two keynote speakers from State Geological Surveys. At
the beginning of each day, they will be presenting the geological framework of two important emerging or expanding gold
provinces, Central Victoria and the Paterson Province here in Western Australia. These keynotes will be followed by

presentations on exciting greenfields discoveries within these two provinces.




A totally new style of mineralisation discovered at Hemi will undoubtedly transform the future of Western Australia’s Pilbara
region as a gold producing province and we look forward to the unveiling of its discovery story.

Tower (Canada)


Black Pine
(USA)





Bankan
(Guinea) Napié
(Côte d’Ivoire)

Séguéla Koné
(Côte d’Ivoire) (Côte d’Ivoire)
Winu-Ngapakarra Paterson Province
(Australia) (Australia)
Havieron Hemi
(Australia) (Australia)
Fenix
(Chile) Lake Rebecca Victoria (Australia)
El Zorro (Australia) Cayley
(Chile) Lode Wharekirauponga

(Australia) (New Zealand)

West Africa continues as a hotspot in global gold exploration, especially Cote d’Ivoire, and we are featuring the discovery
case histories of three deposits from there, including one emerging discovery at Napie, as well as Bankan in Guinea, a
recent multi-million ounce find with exciting potential.




To round off the programme there are presentations on quality discoveries from USA, Canada, New Zealand and Chile

distributed as depicted on this map.

Forum Question:







In Australia over the past two years we have seen a marked increase


in the number, size and quality of multi-million ounce greenf elds

discoveries eg. Winu-Ngapakarra, Havieron, Hemi.





What factors do you believe have come into play to crystallise this

exceptionally favourable development?





Can we expect a continuation of this trend?

The final segment will be the Forum to be convened by Dominic Piper, the Editor of Gold Mining Journal. It will initially
address the fundamental questions posed here and proceed on to related issues. In this regard, the last multimillion ounce
gold discovery in Australia was Gruyere in 2013. We encourage delegates to think of contributions they may wish to make

to the debate which will surely ensue, while a stimulating advance reference is the keynote address by Dan Wood delivered
at this conference in 2017 and published in its Proceedings.

NewGenGold is established as the world’s pre-eminent gold exploration conference. It was spawned by the perception that
explorers were in need of a forum where practical discovery case histories could be presented to their peers and, in the
process, there would be a motivational learning experience which could have immediate application for all concerned.


Discovery case histories are near and dear to our hearts! We enjoy hearing about the circumstances leading to the success

of others and are stimulated to apply what we learn from these stories to our own exploration endeavours.

The relevance to the gold industry of a conference with this theme has been readily recognised by the industry and by our

sponsors, many of whom have been long term supporters. Their commitment to this event is greatly appreciated and their
individual contributions will be acknowledged at relevant stages of the programme.


We hope you are stimulated by the presentations and encourage you to take time to visit the booths in the exhibition where
the latest in products and services for the exploration industry will be on display. The generous lunch and tea/coffee breaks

will be held in the exhibition area where networking with fellow delegates is a convenient process.


Dinner this evening is in this room at 7pm. Beforehand there will be pre-dinner drinks in the exhibition area. Tomorrow, at
the close of the programme of presentations, the Forum will follow after which we will be proceeding to the nearby Perth
Mint which will be our generous host for the closing function commencing at 5.30 pm.


You will have received your copies of the printed proceedings. Should you require additional copies of current or past

proceedings they can be purchased at the Paydirt desk and there is an order form in your satchels.

So let us begin.

OFFICIAL






Victoria


















Laying the groundwork for an integrated systems approach to

tectonics and mineralisation




Ross Cayley & Cameron Cairns

November 2021






















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About the Geological Survey of Victoria










The Geological Survey of Victoria (GSV) is the State’s geoscience agency. It sits within the Department of Jobs,

Precincts and Regions.




The GSV is responsible for understanding Victoria’s geological framework through regional geoscientific

investigations, particularly to enable the informed and integrated management of State-owned resources.




For over 169 years, GSV has studied and mapped the surface and sub-surface of Victoria. Today, it provides

evidence-based knowledge and information to Government, industry, academia and the community, using the

latest geoscience technologies and methods.



GSV staff come from a range of geoscientific disciplines, providing an authoritative and in-depth knowledge of

our dynamic planet.












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Over 30 years of productive research collaboration between


government agencies, academia and industry, steadily building


understanding through the peaks and troughs of the market cycle….































pmd*crc
















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Approaching ~12.5 Moz





Production 2020


Gold produced (oz) 640,467


Ore processed (tonnes) 593,343



Gold grade (g/t) 33.9


Recovery (%) 98.9






Operating: $139/oz


AISC: $312/oz







Exploration 2021


$85-$95M


Robbins Hill


Source: https://www.kl.gold/news-and-media/press-release-details/2021/Kirkland-Lake-Gold-Reports-Record-Results-in-Q4--FY-2020/default.aspx



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Talk outline






• Geological setting for Victorian orogenic gold




• Competing tectonic models for the Early Palaeozoic – confusing for gold explorers




• Structural / stratigraphic mapping + potential field geophysics: powerful
tools…

• …but Deep Seismic Reflection data drives systems-scale understanding



• Application to mineral systems models at crustal scale…




• Constrained retrodeformation scenarios – critical to take geological systems
analysis from crustal scale to lithospheric scale



• Towards a Unifying Theory for Eastern Australian Early Palaeozoic geology and

mineral systems



• Wrapping up










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Early Palaeozoic rocks of similar age,


provenance and appearance, with


similar structural history, widespread



throughout Eastern Australia but:






only central-west Victoria has a cluster


of proven giant orogenic gold deposits.






Why?







Are there other areas potentially as


good, but not yet discovered?








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The Tasman Fold Belt System –







3-4 cycles of Early-Mid Palaeozoic


subduction-accretion that progressively


built eastern Australia….






(Personally I think most were continent-dipping, but

debate continues……)













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Convergent margin key elements and systematics
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Distal back-arc: Magmatic arc: Accretionary wedge: cold, inherent
transition to hot, igneous-dominated strong syn-
intraplate sedimentary shortening
Back-arc basin: deformation, amagmatic

hot, syn-sediment (thickening crust)
magmatism, extension Intraplate: cold,

weak/strong deformation undeformed,
amagmatic































(Stern, 2002)






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Delamerian Lachlan Fold Belt
Fold Belt
















































eastward – younging subduction – accretion cycles

Time-space plot : Eastern Australia

Cayley & Musgrave, in prep



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Delamerian Lachlan Fold Belt
Fold Belt
















































A conformable Cambrian – Ordovician oceanic succession is what defines the Lachlan Fold Belt


Time-space plot : Eastern Australia
Cayley & Musgrave, in prep



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Gold in Victoria




























































*World Gold Council 2019 NewGenGold Conference 2021 16
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Gold in Victoria




• Total all-time gold mined globally: ~190,000 tonnes*

• Victoria’s recorded gold production (1851-): ≥2,600 tonnes+

• ~1.5% of world gold production, from 0.15% of global land area

• Victoria’s goldfields occupy just 0.03% of global land area









Victoria’s goldfield geology has

already produced: 2 Orders of

Magnitude (100x) more gold / area

than the global continental average


(at least!)





















*World Gold Council 2019 NewGenGold Conference 2021 17
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Orogenic gold
Orogenic gold


~450-440 Ma
~410-385Ma






Intrusion-

related
Cu / Au




~500 Ma








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Delamerian Lachlan Fold Belt
Fold Belt

4.5 Moz+

75 Moz+ ~5 Moz+ very little





































It appears that something very important for

Victorian orogenic gold is happening beneath the Bendigo Zone


Time-space plot : Eastern Australia
Victoria

Cayley & Musgrave, in prep



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Orogenic gold
Orogenic gold


~450-440 Ma
~410-385Ma






Intrusion-

related
Cu / Au




~500 Ma








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Cambrian – Ordovician (- Early Devonian) Lachlan Supergroup






Lachlan Supergroup

















The most common host rock for Victoria’s

orogenic gold deposits is the most common

rock –




folded and faulted, quartz-rich deep marine

metasediments














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Ballarat Wattle Gully Four Eagles Fosterville
LionGold Corp, 2014 Arne et al., 2016 AJES Charlton, 2019 Kirkland Lake Gold, 2018






Goldfields, 2007

























Ballarat East, Llanberis LLB732NOD Fosterville – Swan Zone - L Rebbechi
38070 mN - B Reid






















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OFFICIAL Fosterville deposit in plan:
Ballarat Wattle Gully Four Eagles Fosterville
LionGold Corp, 2014 Arne et al., 2016 AJES Charlton, 2019 Kirkland Lake Gold, 2018 showing en-echelon shoot

configuration.



Goldfields, 2007

























Ballarat East, Llanberis LLB732NOD Fosterville – Swan Zone - L Rebbechi
38070 mN - B Reid






















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0 5km








Graptolite age control


























Bendigo goldfield:


Willman, 1992
disconnects between
Weak Virtually no major structures

orogenic World class What is controlling orogenic and gold
gold gold
orogenic gold gold distribution?








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Cambrian – Ordovician (- Early Devonian) Lachlan Supergroup






Lachlan Supergroup

















Pyritic Black shales within the host succession

are a potential source of gold (and sulphur).


























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• S and (likely) Au sourced by pyrite to pyrrhotite transition – can occur metasediments and/or metavolcanics

• Implicates the greenschist – amphibolite transition which occurs at mid-crustal depths in collisional orogens
• S isotopes indicate either magmatic or well-mixed source

• Metamorphism of ‘pyritic metasediment’ the currently favored orogenic gold source in academia.…..

• Victoria’s orogenic gold story is crustal-scale (its not just about the host rocks).




Mode of Mean Mean
occurrence Au As
ppm ppm
Au As
Diagenetic 0.61 1300 Enriched in Mn, Zn, Mo, Cu, V, Ba,
Ag, Cd, Tl, Co, Ni, Bi, Pb, Te

Pyrrhotite 0.04 4 Depleted in Cu, Zn, Sb, Te Enriched

in base in Co, Ni as nodular

Hydro in Rim Rim Variable enrichment usually in core
turbidites 1.24 1850 (Co, Ni, Bi, V, Pb) dependent on Au As

Core Core host lithology
0.65 1550


Hydro in LQ 4.37 4960


Hydro in Au 5.65 6580
reef Au As

Thomas et al., 2011 Econ Geol




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BUT…overall, the quartz-rich deep marine sediment succession is not


inherently rich in gold

(eg Glasson & Keays, 1978; Bierlein, 2004)




Lachlan Supergroup











































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(Bierlein, 2004)


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BUT…overall, the quartz-rich deep marine sediment succession is not


inherently rich in gold
AND…the relative stratigraphic abundance
(eg Glasson & Keays, 1978; Bierlein, 2004) of pyritic black shale in Victoria is


anti-correlated with orogenic gold endowment!!
Lachlan Supergroup

(eg: ‘Bendoc Group’ extensive in eastern Victoria: pyritic black

shale dominant but a region with less proven orogenic gold.
~5 Moz+
Bendigo-Fosterville goldfields: world class orogenic gold, but
<5% / vol pyritic black shale).




Victoria’s orogenic gold story must be more complex than just
the host rocks and structures….this has been the exploration

challenge
abundant pyritic shale




















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(Bierlein, 2004)


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OFFICIAL Kilmore
Heathcote Fault Zone








































Major faults expose

Early Cambrian MORB,

BABB and boninite,
deep marine setting,

Cambrian pelagic chert

(Goldie Chert, Howqua Chert)





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Boninite: a credible source of lots of gold (e.g. Keays, 1987):



Cambrian metavolcanics exposed in:

Moyston Fault / Moornambool Metamorphic Complex, Avoca Fault,

Heathcote Fault Zone and, farther east, Governor Fault Zone –



points to oceanic / intra-oceanic arc precursor crust for lots of Victoria.


(Hamlyn et al, 1985; Bierlein, 2004;

also Pitcairn et al., 2006 in NZ for Otago Schist MORBS) NewGenGold Conference 2021 31
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~5 m oz total Au production OFFICIAL












Navarre Minerals Maiden Resource
(Resolution, Adventure prospects

304,300 oz @ 2.43g/t Au.

(30 March 2021)…this is how

modern Magdala (~3Moz-) started!





































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