Sydney-based Commissioners Gold Limited (ASX: "CGU") has made an application for a 5.3km Exploration Licence covering the historic Grenfell Goldfield in the central west of New South Wales.
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The company released a statement last week detailing its plans.
"The application was lodged following desktop studies into historic mining at Grenfell, as a result of which, the discovery potential for a comparatively high-grade, quartz vein style gold deposit in the vicinity of the existing mine workings was highlighted as the conceptual Exploration Target.
"The ELA covers all of the historic mines on the 24 gold-quartz reefs which make up the 3 kilometre line of lode at Grenfell.
"These are located on a major fault zone in the SE Lachlan Fold Belt, the Coolac-Narromine Fault, which has been a key regional control for the localisation of gold mineralisation at Grenfell and at other large gold mining centres in the region such as at Forbes, Parkes and Tomingley.
"The gold mineralisation being targeted at Grenfell is hosted by a series of steeply dipping quartz veins which are in the range from 0.5 to 3 metres wide and which in places, blow out to up to 15 metres in width.
"The veins generally strike NE and dip NW in an en echelon, or overlapping, staggered array and have been preferentially formed in a very competent quartz-feldspar porphyry unit which has undergone brittle deformation in contrast to the enclosing metasediments."
Commissioners Gold says it is focused on the hard rock potential of the Grenfell field and upon grant of a licence, is aiming to fast-track exploration so as to establish drill targets along the line of lode through completion of a detailed geological survey in conjunction with more in-depth analysis of the historic underground mining records and previous exploration results.
The gold-quartz veins are to be targeted with a view to establishing a gold resource with a grade commensurate with the historic mine grades and which is envisaged to support a low impact, narrow-vein underground mining operation and offsite ore processing which would have a small local footprint.
"Community liaison has been underway for some time and preparations are being made to implement the proposed exploration programme when permitting has been completed," its statement concluded.
