Monte Cristo Gold Project
Monte Cristo Gold Project (100%)
The Company entered into a binding Heads of Agreements (“HOA”) with Iridium Resources Pty Ltd to acquire 100% of Stradun Australia Pty Ltd, which owns 100% of the Monte Cristo Gold Project in Alaska.
The Monte Cristo Gold Project comprises 500 granted claims (tenements), totalling 323.74km², located in Alaska, USA. The Project is located within the vicinity of multi-million ounce gold projects discovered by Nova Minerals Ltd (Korbel deposit 4.7m oz Au1) and GoldMining Inc (Whistler and Raintree deposits with combined 4.8m oz Au2).
The Project area contains four historical prospects – Monte Cristo, St Eugene, Old Man Breccia and Old Man Diorite – and these will be priority exploration targets to conduct initial exploration work. The Company will also conduct works to determine any geological similarities from the adjacent new RPM gold discovery and the 4.7m ounce Korbel gold deposit within the neighbouring Estelle Gold Project.
Figure 3. Monte Cristo Gold Project Location
The Company will target exploring for intrusion zones, with the potential to discover large intrusive deposits, similar to the neighbouring multi-million ounce gold deposits and recent discoveries.
Ragusa will conduct works to determine the most effective development strategy for the Project, and has secured specialist and experienced Alaskan-based geological consultants to assist with advancing the Project.
The project vendor was involved in the staking and identification of the adjacent Estelle Gold Project for Nova Minerals Ltd