There’s a potential ‘Tropicana 2.0’ waiting to be uncovered at Edjudina, says Syndicated Metals
8th November 2019
Resources Rising Stars
WA explorer Syndicated Metals says a newly acquired, early stage project resembles the +6 million-ounce Tropicana deposit. Here’s hoping (reports Stockhead).
Today, Syndicated (ASX:SMD) scored itself a second major landholding in the Laverton gold district of WA, buying an 80 per cent interest in the Edjudina project from Gateway Mining (ASX:GML).
For Gateway, which is focused on its +240,000oz Gidgee project, Edjudina is a non-core asset.
For Syndicated, it represents a potential company maker. It says one of the key attractions is Edjudina’s “geological similarities” with the mammoth Tropicana gold-copper deposit.
Previous exploration work on Edjudina, mostly during the 1980s and 1990s, was pretty light and happened at a time when the gold price was less than $US300/oz ($435/oz).
The project — highlighted by a very large, very continuous gold anomaly — is untouched by deeper drilling.
But early drilling results “present as very similar in nature to the early intersections at the multi-million-ounce Tropicana gold deposit further east”, Syndicated told investors.
“It wasn’t until drilling was conducted beneath the base of complete weathering at Tropicana that the true nature and extent of the primary mineralisation was understood.”
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