Southern Cross Projects
Southern Cross Projects – Ramelius Resources Farm-in/JV (WSR 25% Free Carry to Decision to Mine)
The Southern Cross Greenstone Belt is a prolific gold producing region historically yielding over 15+ Million ounces of gold.
The Mt Finnerty and Parker Dome Projects are subject to a Farm-in and Joint Venture Agreement between Ramelius Resources Ltd and Rouge Resources (a 100% owned subsidiary of Westar Resources Ltd) dated 30 August 2019. Under the terms of the agreement Ramelius may earn up to a 75% interest by spending $2,000,000 over a three-year period. A full summary of the agreement is set out in section 10.1(a) of the company’s IPO Prospectus. (See WSR ASX Announcement, 6 December 2020, “Prospectus”).
Bonanza historical drill intercepts exist at the Mt Finnerty Project, including 9m @ 98.2 g/t Au from 62m and 1m @ 236.4 g/t Au, with multiple prospects along several km of strike along a granite-greenstone contact. 2021 drilling by Ramelius Resources returned assay results including
- 5m at 66.7g/t Au from 175m in FLRC002,
- 4m at 14.1g/t Au from 136m in FLRC003,
- 1m at 35.0g/t Au from 125m in FLRC004
- 13m at 4.37g/t Au from 182m in FLRC015 and,
- 5m at 2.63g/t Au from 146m in FLRC0013