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Two new licences granted in highly prospective area of the Southern Cross greenstone belt.
Xantippe Resources Limited (ASX: XTC) (Xantippe, XTC, or the Company) is pleased to advise of the grant of one Exploration Licence and one Prospecting License in the Toomey Hills area of the Southern Cross Region of Western Australia.
The two tenements E77/2804 and P77/4585 are contiguous with each other and a portion of Xantippe lease E77/2584 in the south-east region of The Southern Cross tenement package. This acquisition increases the size of the Company’s granted licenses for exploration in the region to 197 square kilometres.
The tenements cover a geologically prospective part of the greenstone belt south of Marvel Loch with tenement boundaries less than 1km from the historic Southern Star open pit gold operation currently owned by Barto Gold Mining Pty Ltd. Strong geophysical signatures within the greenstone terrane which regionally hosts gold mineralisation continue across the tenement and will be targeted for contact and shear hosted gold mineralisation.
Historic workings including mapping, soil sampling and drilling has been carried out across parts of the tenements and indicate the presence of low-level gold mineralisation. The Minedex historic Golden Venture workings exist on the lease which details the extraction of shallow gold and will be investigated further. There does not appear to have been any significant exploration work for gold carried out on the tenements within the last decade. Xantippe is currently compiling all public data and targeting work is ongoing.
This article includes content from Xantippe Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.