Exceptional high grade historic gold mine with regional scale upside
The geology, structures and access make Comet Vale one of the more prospective projects in the region.
Historical intercepts include:
- 7m @ 5.5 g/t Au from 125m in CV23RC_016
- 1m @ 32 g/t Au from 338.5m in JVD028
- 3.1m @ 13.3 g/t Au from 302m in RD007
- 3m @ 14.1 g/t Au from 418m in RD010
- 2.5m @ 29.5 g/t Au from 387.5m in RD017
- 3m @ 11 g/t Au from 38m in DRC055
GEOLOGY
The geology, structures and access make Comet Vale one of the more prospective projects in the region.
Historical intercepts include:
- 7m @ 5.5 g/t Au from 125m in CV23RC_016
- 1m @ 32 g/t Au from 338.5m in JVD028
- 3.1m @ 13.3 g/t Au from 302m in RD007
- 3m @ 14.1 g/t Au from 418m in RD010
- 2.5m @ 29.5 g/t Au from 387.5m in RD017
- 3m @ 11 g/t Au from 38m in DRC055
Labyrinth’s Existing total JORC Resource at Comet Vale of 96koz at 4.8g/t (100% basis)
Table 1: Comet Vale March 2023 Depleted Open Pit Resource (Au>=0.5g/t OP)
Comet Vale March 2023 Depleted Open Pit Resource (Au>=0.5g/t OP)
| Category | Tonnage (Mt) | Au Grade (g/t) | Au Ounces |
| Indicated | 0.18 | 4.3 | 25,500 |
| Inferred | 0.19 | 2.3 | 14,000 |
| Total | 0.37 | 3.3 | 39,500 |
Comet Vale March 2023 Depleted Underground Resource (Au>=2.5g/t UG)
| Category | Tonnage (Mt) | Au Grade (g/t) | Au Ounces |
| Indicated | 0.13 | 7.4 | 30,600 |
| Inferred | 0.12 | 6.5 | 25,600 |
| Total | 0.25 | 7.0 | 56,200 |
Geology
Comet Vale is on the eastern limb of a regional-scale, north-south trending anticline: the Goongarrie-Mt Pleasant Anticline. The Goongarrie Monzogranite is in the core of this south plunging anticline and is enclosed by rocks of the Ora Banda Domain.
The mafic-ultramafic rocks in the Comet Vale area therefore are part of the same sequence that hosts the Grants Patch, Ora Banda and Mt Pleasant gold camps, as well as the Goongarrie and Highway nickel laterite deposits on the southern and western limbs of this anticline and consist of the Missouri Basalt, the Walter Williams Formation and the Siberia Komatiite. To the east of the property is the northern extension of the prolific Boulder-Lefroy Fault that hosts the world-class Superpit mine.
Much of the western part of the project area is blanketed by a thin cover of wind-blown sands (1-4 m thick) and a thin underlying layer of lateritic gravel (<1 m thick). This transported regolith covers the majority of the ground that is prospective for gold bearing structures.
Image: historic Comet Vale ore drive (6m width)