High Grade Base Metal and Gold projects in the Eastern Alps Austria
High Grade Metals’s key assets comprise nine Austrian cobalt and gold projects (Figure 1), in which it has a 100% interest, through acquiring Austrian Projects Corporation Pty Ltd (“APC”) in January of 2018.
The Company’s Cobalt Projects are contained in four separate concession areas (Gratlspitz, Leogang, Seekar and Zinkwand), covering an area of circa 44 km² and include sites of historical base metal and cobalt mining. The Company’s Gold projects are contained in five separate exploration areas (Schellgaden North & South, Kreuzeck West, Kreuzeck East and Goldeck-Siflitz) and cover a total area of 170 km². These concessions also encompass historical gold, silver and base-metal mining sites.
The majority of these projects are located within the Eastern Alps fringing the Tauern Window, a geologic feature created by tectonic denudation, which, during the Alpine Orogeny, exposed underlying metamorphosed Palaeozoic basement and related rocks.
Several of the mines within the Company’s Cobalt and Gold projects have been intermittently worked for centuries, having variously reported high-grade mineral occurrences. However, none of the projects have been subject to modern (within the past 20 years), systematic exploration and accordingly, none contain classifiable resources.
However, two gold projects, Schellgaden North and Kreuzeck West, have had Exploration Targets assigned to them by previous researchers/explorers, but, while Schellgaden North was the focus of exploration attention in the 1990’s by Argosy Mining Limited, neither project was subject to sufficient exploration to enable delineation of mineral resources in accordance with JORC 2012 classifications.
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