Epoch Finds Small Qld Gold Deposit

Sydney Morning Herald

Tuesday December 6, 1988

By IAN VERRENDER

Epoch Mining NL has discovered a small gold deposit about 30 kilometres from Cloncurry in central Queensland.

The 120,000 tonne resource has an average grade of 4.4 grams a tonne and is located in two shallow zones at depths of 20 and 40 metres.

Epoch is the manager of the project, which is a joint venture with Devex Ltd on a tenement held by BHP-Utah.

BHP is entitled to a 5 per cent royalty on any mineral production from the project.

"This discovery is particularly encouraging as there has been no previous mining in or near the prospect area," Epoch directors said.

They said the company had put down 27 percussion drill holes with promising results ranging from 1.1 grams to 17.2 grams.

"Results of trenching and drilling suggest a 120,000 tonne resource at 4.4 grams a tonne in two zones to depths of 40 and 20 metres," directors said.

The company said it had identified other "target areas" within and outside the grid area which required trenching and drilling.

"These additional targets have similar geochemistry to the defined resources and give considerable optimism for the existence of significant additional tonnages in the area."

Epoch is controlled by Kolback Securities and has a 43 per cent stake in Kulim Ltd.

Epoch last year was the subject of a takeover battle between Kolback and Independent Resources.

© 1988 Sydney Morning Herald

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