Under the Tarmoola Joint Venture Agreement, the Company has the right to earn a 75% interest in the Tarmoola Project by funding exploration expenditure of $1,400,000 over a 5 year period.
Historically overlooked, the land was pegged by EGMC as a conceptual large-scale gold project highlighted by a large regional geochemical pathfinder anomaly which also incorporates the King of the Hills and Sons of Gwalia gold deposits. The Tarmoola Project lies in the same geological setting as these deposits, being a northern extension to a regional granite-greenstone terrane contact.
Early regional geological interpretation had thought the Tenements over which the project is located to be predominated by granite; however field reconnaissance and recent desktop work shows the lease to contain a large component of greenstone.
Importantly, the Tarmoola Project contains some 15 kilometres of previously unrecognised prospective strike extent, centrally located along the main granite-greenstone contact. This contact hosts (on nearby tenements) the Gwalia, King of the Hills and Bannockburn gold deposits