Barmedman, Australia
Property Status
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The Company holds an exploration licence covering 27,513 hectares in the Lachlan Fold Belt, New South Wales, Australia. Effective December 12, 2008, Kiska signed a Farm-in agreement for the Barmedman exploration licence with Inmet Mining (Australia) Pty. Ltd. Under the terms of the agreement, Inmet is earning a 60% interest by funding at least A$5 million in exploration on the property over four years. Inmet has been making staged cash payments which will total A$250,000 over the earn-in period.
The Lachlan Fold Belt is a significant Cu and Au mining district in New South Wales, Australia, which hosts world-class deposits, such as the Cadia Valley porphyry copper-gold mining complex (28.5 Moz gold and 3.8Mt copper). In this proven mining district, discovery opportunities exist in regions of thick overburden cover that as a consequence are significantly under explored. A Neural Network study of the Lachlan Fold Belt done by BWG Mining on behalf of Kiska Metals Corporation, integrated a range of geological, geophysical and other spatial datasets to define areas of high mineral potential, including covered areas. The Barmedman area was ranked highly by this study and the exploration license was subsequently acquired and is held 100% by Kiska.
Barmedman license is located in the western portion of the Lachlan Fold Belt 180 kilometres southwest from the town of Orange, New South Wales. The property sits within an area of regionally-extensive alteration and mineralization, characterized by both high sulfidation and copper-gold porphyry occurrences and deposits. Relative to adjacent ground, the Barmedman area remains underexplored due to a thick cover of transported overburden.
In 2008 Kiska defined an induced polarization geophysical target situated in Ordovician volcanic rocks in the western portion of the Lachlan Fold Belt. This succession of rocks hosts significant Cu-Au and Au deposits in the region, including the Cowal mine (2.3 MOz Au epithermal deposit), the Northparkes mine (1.2 Mt Cu and 1.6 MOz Au porphyry deposit), and the past producing Gidginbung mine (0.7 MOz Au high sulphidation deposit)
In late 2008 Inmet Mining Corporation optioned the Barmedman property from Kiska. Under the terms of the agreement, Inmet can earn a 60% interest by funding at least $5 million in exploration on the property over four years, including $400,000 in the first year. Inmet will make staged cash payments totalling $250,000 over the earn-in period, including $50,000 upon signing.
Presently Kiska and Inmet mining are developing further targets in the untested portions of the Barmedman tenement.
Property Overview
Opportunity
The Barmedman Project presents an excellent opportunity for discovery:- Ground adjacent to the Barmedman Project, which is geologically similar, hosts significant early-stage drilled prospects, indicating the high potential for mineralization and clustering within this region
- Cullingerai Prospect: 50m @ 0.5% Cu and 0.8 g/t Au (Goldminco)
- Rain Hill Prospect: 167m @ 0.7% Cu and 1.0 g/t Au (Goldminco)
- The project location is within close range of power and transportation infrastructure
