EMX’s organically generated Queensland Gold exploration-stage royalty property is located in the Yarrol Province of the Tasman Orogenic Zone, which hosts significant operating gold mines and exploration projects in Queensland, Australia. Queensland Gold is under option to Many Peaks Gold Limited (ASX: MPG) for pre-production payments, work commitments, and a retained 2.5% NSR royalty interest.
The Queensland Gold property encompasses a 46,400 hectare area covering historical gold mines, gold occurrences, drill defined zones of gold mineralization, and multiple gold geochemical anomalies. Diverse styles of mineralization have been identified on the property including intrusion related gold (IRGS), skarn, reef-type veins, and sediment hosted copper. The styles of mineralization are similar to those seen at the nearby Mount Rawdon gold mine operated by Evolution Mining Ltd and Metal Bank Ltd’s Triumph gold project.*
Many Peaks had defined multiple exploration projects (e.g., Mt Weary, Rawlins, and Monal) within the extensive Queensland Gold property package. These projects are being advanced by Many peaks with surface exploration and reconnaissance drill programs.
Also see Company news release dated September 8, 2020 for more information.
*References made to nearby mines and analogous deposits provide geologic context for the Queensland Gold property. However, this is not necessarily indicative that the property hosts similar grades or tonnages of mineralization.