Schellgaden Gold Project

The Schellgaden Project covers an area of approximately 100km2 and can be divided into two exploration regions:

  1.   Schellgaden North, located within the state of Salzburg, comprises of 36 exploration concessions and has been considered one of the richest and most active gold mining districts in Austria, and includes the well known mines of Stublbau and Schulterbau
  2.   Schellgaden South, located within the state of Carinthia, comprises 121 exploration concessions, and although considered less explored, the region still holds claim to many historic gold mines.

Apart from the known mine survey undertaken by VOEST Alpine Steel in the 1980’s, which was designed to focus on scheelite occurrences within the old mines, little is known of the exploration efforts in the area prior to the Canadian company, Argosy Mining Corp, acquiring the Schellgaden tenement holdings in 1995 through its Salzburg based subsidiary (‘AMG’).

In May-June 1995, AMG undertook systematic geochemical sampling of accessible stope faces in a number of historic mines in Schellgaden North & South. From a total of 133 channel samples, geochemical analyses, of gold and 34 other elements, provided the first modern evaluation of the Schellgaden ore bearing layers. Channel samples collected by AMG revealed average gold grades of 7,508 ppb to 10,012 ppb (7.5 – 10.0 g/t) for the Barbara Lager in the Stüblbau Mine and average grades of 8,352 (8.3 g/t) in the Schulterbau Mine. Peak assay results of nearly 1 oz/t (34,280 ppb) where recorded in the nearby Knappenstube East Mine.

In October 2018, High Grade Metals undertook a maiden drill program at Schellgaden, with focus around the historic, high grade, Stüblbau mine. The initial drilling was designed to consist of 4 – 6 diamond holes drilled from state approved sites. The drill holes were prioritized based upon a variety of factors including logistical, geological and time issues, in addition to the performance/capability of the drilling contractor. The planned program was designed to focus on the geological connections between the existing mine, and the Katschberg transport tunnel.

Four diamond holes were completed in a programme lasting almost six weeks; SCH18-10, SCH18-13, SCH18-18 and SCH18-19 (Table 1). Of these four drill holes only one drill was drilled to its planned of 300 m, namely SCH18-18. Table 1 lists details of each of the four holes completed in the 2018 drilling programme.

Hole ID Date Started Date Completed Easting
(mE)
Northing
(mN)
RL
(ASL)
Planned Depth
(m)
Actual Depth
(m)
Azimuth Dip Contractor HQ (m) NWT
(m)
SCH18-10 09/11/2018 23/11/2018 391853 5213756 1828 300 235.85 000º -90º Energold 0.00 to 148.65 148.65 to 235.8
SCH18-13 08/11/2018 24/11/2018 391969 5213456 1853 300 259.50 000º -90º Energold 0.00 to 145.50 145.50 to 259.50
SCH18-18 19/10/2018 08/11/2018 392237 5213333 1740 300300 000º -90º Energold 0.00 to 156.90 156.92 to 300.00
SCH18-19 24/10/2018 09/11/2018 392440 5213492 1640 300 277.45 000º -90º Energold 0.00 to 187.65 187.65 to 277.45