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Victoria glitters in gold

Maiden drilling at Platina Resources’ Xanadu gold project in WA has confirmed a large-scale gold system over 600m by 600m in all directions.

The Geological Survey of Victoria (GSV) has shared information about under-explored mineral resources across the state.

The GSV is Victoria’s geoscience agency and is responsible for understanding the state’s geological framework through regional geoscientific investigations.

According to the Victorian Government, mineral exploration is currently at record levels in the state, with expenditure totalling over $220 million in 2021–22. This was a 20 per cent rise on the previous financial year.

Now, for the first time, GSV has identified an extended fault system that could indicate the presence of minerals in areas that have not yet seen successful exploration.

The mineralisation pathways in these areas may run close to the surface to as far down as 35–40km.

In a presentation to the Victorian Gold Mining and Exploration Forum, GSV senior geologist Ross Cayley said the Cambrian metavolcanic region at Heathcote was of particular significance.

“One of the important characteristics of the Cambrian igneous rocks that underlie the turbidites is that they are a credible source of lots of gold,” Cayley said.

“On the same scale as the turbidites the research suggests that they’ve got a capacity between about five and about 50 times of turbidites in terms of volume to supply gold, mainly from interflow sediments.

“So the scale of these systems are similar to the one in Bendigo. There’s a lot of potential.”

Bendigo houses one of the biggest gold zones in Victoria, dating back to the gold rush in the mid-1800s.

“We think we’ve got a ‘new dawn’ for Victorian gold exploration. It’s really underpinned by data, technology, concepts and confidence,” Cayley said.

“We think Victoria has crossed a threshold of data and understanding to what looks like sustained success.”

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