When junior explorers start turning up discoveries on ground that had previously been considered “mature” despite hosting one of Australia’s largest and lowest cost gold mines, it is hard not to be intrigued.
And that is exactly the case with the Lachlan Fold Belt in New South Wales.
Despite hosting the giant Cadia copper-gold mine, the bulk of exploration work carried out between 20 to 25 years ago failed to turn up any further large successes, which led to a dearth of exploration until recent years.
“I used to hear quite a lot from fund managers and brokers that the central west is a mature area, exploration has been well covered, and probably there wouldn’t be much more to be found,” Alkane Resources (ASX:ALK) technical director Ian Chalmers told Stockhead.
“And that is really a long way from the truth, because the reality is when you stand up and look at it as an exploration region, you realise just how little has been done in terms of understanding the geology and understanding the potential of the mineralisation.”
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