Australasian Gold Limited (ASX:A8G)
Australasian Gold Limited (ASX:A8G) was established to identify and explore for gold and base metal projects, primarily in Australia. The Company currently has a purchase agreement of over 270 km2 of tenements.
The May Queen gold project lies within the Brovinia goldfield in Queensland. This goldfield is located in the northern part of the Surat Basin with the tenement mostly covered by Early to Late Jurassic sediments that unconformably overlay outcropping Late Devonian – Mississippian volcanoclastic sedimentary rocks hosting the May Queen gold mineralisation.
The Mt Clermont gold project is also in Queensland and lies within the Anakie Province of the Drummond Basin which is composed of a sequence of Devonian to Carboniferous volcanics and sediments approximately 60 km by road north-west of the town at Emerald.
The two Queensland projects have significant potential of hosting precious metals, especially gold.
The Fairview gold project is in Western Australia and lies within the Pilbara Granite-Greenstone Complex which covers an area of approximately 60,000 km2 in the northwest of the state. The exploration target is structures similar to the Mt Clement deposit less than 5 km to the south-east. The project is approximately 30 km northwest of Northern Star Limited’s (ASX:NST) Paulsens Gold Mine.