Utopia Project ELA28/1398, ELA28/1399 & ELA28/1412 (100% Comet)
The Utopia Project is located approximately 125 kilometres (km) east-southeast of Kalgoorlie and covers an area of over 300 km2.
The Utopia project has been joint ventured to Sipa Gold Ltd (Sipa). The main points of the joint venture are:-
Sipa may earn a 70% interest in Exploration Licences E28/1494, E28/1495, E28/1657 and E28/1412 by exploration expenditure of $1.25 million within 5 years. On earning a 70/30 joint venture is formed with Sipa as manager.
Sipa commits to $100,000 of exploration expenditure in year one and may withdraw at any time later, providing tenements are kept pro-rata in good standing.
The Utopia Project is now called the Woodline Gold and Basemetals Project. The main highlights are:
Data was received from a Hoistem electromagnetic survey flown in January and preliminary interpretation has identified a number of ‘conductive’ and ‘resistive’ anomalies, some associated with known outcropping alteration/mineralisation and some in areas of sand cover.
A number of new gold-in-calcrete geochemical anomalies have been identified.
A suitable Reverse Circulation drill rig is being sought to test outcropping gold-bearing lodes and gossans and Hoistem anomalies in the Greater Socrates area, and a RAB/Aircore rig is being sought to test numerous gold-in-calcrete anomalies.
