The following information pertaining to the Bailieston gold project should be read in conjunction with the relevant ECR regulatory announcements
The Bailieston project is centred on epithermal ‘Carlin’ style disseminated or sheeted vein hosted gold mineralisation. This concept is premised on the exploitation of such a deposit immediately to the north of EL5433 by Perseverance Corporation in the mid-1990s, and geological evidence that the structure which hosts this deposit is repeated within the Bailieston project area.
The Fosterville gold mine, owned by Newmarket Gold (TSX: NMI), is located some 20km to the west of the Bailieston project, and is currently the largest producing gold mine in Victoria, which as a state has a rich and varied gold mining history going back to the nineteenth century. The Fosterville gold mine recently celebrated the production of its one millionth ounce of gold. The Costerfield gold-antimony mine, owned by Mandalay Resources (TSX: MND), is located some 30km southwest of the Bailieston project.