Local gold mine could be a bonanza
A MINING project west of Casino could potentially yield "bonanza grade" deposits of gold, it has been revealed.
White Rock Minerals started a drilling program at Mt Carrington near Drake, 70km from Casino and 50km from Tenterfield in November 2010.
On Friday the company's managing director, Geoff Lowe, gave a presentation at the Mining and Exploration Conference at Noosa, an event which attracts more than 450 industry delegates.
He said the Mt Carrington resource base included seven "near surface" gold and silver deposits.
And although deposits start at the surface, there is "bonanza grade" potential at depth.
White Rock Minerals has also received encouraging results from initial drilling at the Red Rock prospect, in the Drake volcanic caldera.
This prospect is 15km north of the Mt Carrington gold and silver resource base.
Initial drill holes have identified several zones of narrow high-grade gold and zinc.
Further drilling is planned in the September quarter.
Mr Lowe said the results were "very positive".
"The initial three holes have greatly enhanced our knowledge of the mineralisation at Red Rock, and it appears that the first gold intersection is only just tapping the edge of a larger gold rich zone," he said.
"The results at Red Rock reconfirm our view of the high potential of the greater Drake volcanic caldera to host multiple shallow gold deposits."
The Tenterfield and Drake areas have long been known for their gold potential.
Originally settled by sheep and cattle farmers, Tenterfield's population exploded in the 1880s after the discovery of gold just north of the town.
Gold was found at Mt Carrington in 1886, and mining continued there until 1990.