The Company has chosen to focus its gold-copper exploration within the state of New South Wales and in particular the Lachlan Fold Belt. The reasons for this include the state’s endowment of world-class deposits and low levels of modern exploration. Other key features are its favourable mining and exploration legislation, land accessibility and well developed infrastructure. The world-class NSW gold-copper deposits include Newcrests’s Cadia-Ridgeway operation, Rio Tinto’s North Parkes mine and Barrick’s Cowal Gold Mine.
Since 2001, exploration activity in NSW has increased, resulting in a number of new discoveries such as Wyoming gold deposit (discovered 2001; 7.13Mt @ 2.70g/t Au) and Dargues Reef (discovered 2004; 3.58Mt @ 2.8g/t Au). These discoveries help to confirm the prospectivity of NSW.
The Company’s primary copper-gold assets include the Kadungle project, prospective for porphyry copper-gold and epithermal gold.
Since pre-IPO, Aurelia Metals Limited (AMI) has maintained a strategic focus on tin as a strategic commodity. Since 2005 the company has targeted and secured a number of highly prospective historic tin fields of NSW including the important historical production areas of Tallebung near Condobolin and the Torrington tin field in the New England district of NSW.
AMI’s main tin focus remains the Tallebung Project, which the company believes has the capacity to host a very large, low grade ‘porphyry’ tin deposit. Exploration on the Project is expected to re-initiate from mid 2012.
The company also remains active in the Doradilla Project which hosts a very large tin-in skarn deposit together with numerous polymetallic exploration targets for copper, silver, lead, zinc and tin.
In 2010, Aurelia Metals Limited (then YTC Resources) reached agreement with Taronga Mines Ltd to divest the company’s interest in the New England district tenements in exchange for a substantial shareholding in Taronga Mines. Taronga controls the very large Taronga tin deposit which stands as the largest undeveloped hard-rock tin deposit in mainland Australia. The combination of the Taronga deposit with YTC’s substantial exploration tenement coverage represents a beneficial and logical combination for both YTC and Taronga Mines.
AMI remains strongly supportive of Taronga Mines as its pursues an ASX listing and commences exploration and feasibility activities on the Taronga Deposit and the surrounding tenement area.