The Company’s present projects and tenements are located in close proximity to each other, each within approximately a 1 hour drive and all in the Central Victoria region.
Histroically over 60 million oz of gold has been mined in Central Victoria.
The projects centre around Bendigo City which has all the infrastrucure one would expect of a significant Australian City. This has clear logistical advantages in terms of access for each of our present projects to quality infrastructure (roads, power, fuel, accommodation), supplies and materials and allows for potential pooling of plant, equipment and personnel – as well as and minimising travel and administrative time and costs. It also allows a very focused and detailed knowledge of the region to be built up by the management and geology teams, and is likely to allow methodology and knowledge learnt at one tenement to be reapplied to assist development of others.
There has been an increased level of geological and technical knowledge brought to focus on Central Victoria because the understanding of how to interpret aspects of the geology of the region has advanced.
One of the more significant advances in knowledge is in the understanding of the "nugget effect" (this is where coarse gold is erratically distributed within quartz reefs) in Central Victorian gold deposits on current assaying techniques. This advance has allowed for the complete reassessment of all exploration work completed before the mid 1990s.
This new knowledge, coupled with the escalation in the price of gold, has seen a significant increase in capital raised to exploit new ore horizons predicted and discovered at all of Central Victoria’s premier gold fields. Operations at Fosterville, Ballarat, Costerfield and the continued production at Stawell have seen over A$400 million injected into the Victorian economy over the last 10 years which has resulted in new production at every one of these gold fields.