Australian Vanadium Snapshot
Yellow Rock Resources’ mission is to increase shareholder wealth through capital growth and dividends by the discovery of economic mineral deposits and the development of profitable mining operations.
Yellow Rock Resources’ initial objective is to explore and further evaluate their existing mining tenements focusing on the Gabanintha Vanadium deposit. In Western Australia . Yellow Rock Resources may also evaluate other prospective mining projects that would have the potential to contribute to Yellow Rock Resources’ future growth.
Gabanintha Vanadium Project – Western Australia
The Gabanintha Vanadium Project consists of the Gabanintha high-grade V-Ti-Fe deposit located in the Murchison Province approximately 43kms south of the mining town of Meekatharra in Western Australia. The project consists of eight granted exploration licenses and one exploration license application in the Gabanintha Formation in the north of the Murchison granite-greenstone terrane of the Archaean Yilgarn Craton.
Mineralisation is hosted by an anorthositic gabbro intrusion striking north-northwest and dipping steep to moderately to the west. The intrusion has a talc-carbonate ultramafic footwall and both the intrusion and mineralisation are disrupted by later dolerites and granites and a series of east and east southeast trending faults.
Gabanintha Copper-Gold Project – Western Australia
The Gabanintha Copper-Gold Project is located on surrounding and adjacent areas of the Gabanintha Vanadium Project near Meekatharra in Western Australia.
The project comprises a highly prospective package of mafic/ ultramafic volcanics and intrusives of the Gabanintha Formation. Significant historic mining has occurred in the area with the most prominent being during the period 1987 – 1991 where the former Dominion Mining NL (now owned by Monument Mining Limited; MMY.V) open pit mined a series of gold deposits located directly north along strike from the Gabanintha Project. Deposits mined by Dominion include Yagahong, Yagahong North, Kavanagh, Terrells, Canterbury and Tunblegum. The Tumblegum Deposit is located ~ 500m north of the project boundary and is interpreted to extend into Yellow Rock’s leases at the Tumblegum South Prospect.
Remnants of the historic mining towns of Gabanintha and Porlell date back to small scale mining activity that occurred in the early 1900’s and before.
RC drilling conducted by Yellow Rock in 2013 discovered significant new copper and gold mineralisation at the Tumblegum South Prospect including;
• 5m @ 8.72g/t Au and 3.05% Cu from 31m downhole in GRC1158 and;
• 5m @ 9.64g/t Au and 0.18% Cu from 58m downhole in GRC1159 (see ASX announcement dated 26th November 2013).
Mineralisation is open in all directions to the tenement boundary and the company is currently conducting a comprehensive prospectivity review of the entire tenement package to assist with target definition for follow up drilling.
Recently Yellow Rock has expanded its copper and gold portfolio with the addition of E51/1576 in the far northwest of the project area which contains part of the Federal Bassett Shear Zone which is known to host significant gold mineralisation.
The tenement is located along strike from the Burnakara Gold Project owned by MMY.V and hosts a highly prospective >5km long Au in soil anomaly over the Federal Bassett Shear Zone. First pass shallow aircore drilling by EMU Nickel on > 1km spaced lines in 2010 produced best results of;
• 42m @ 78ppb Au from surface including 8m @ 0.23g/t Au from 4m in hole WKAC98;
• 4m @ 61ppb Au from 32m at EOH in adjacent hole WKAC99.
The mineralisation is hosted in a sequence of weathered mafic volcanics, sediments and felsic rocks and the wide spaced shallow drilling has not been followed up. E51/1576 will also be included in the prospectivity review for further target generation.
There is substantial competitor activity in region including gold producing companies Doray Minerals Limited (DRM.AX) and Monument Mining Limited and explorer Mithril Resources Limited (MTH.AX).
(click here for more information on projects)
Last updated 22nd June 2015.
Chief Executive Officer
Mr Vincent Algar BSC (Hons) Geology, MAusImm, is a geologist by profession with over 24 years’ experience in the mining industry spanning underground and open cut mining operations, greenfields exploration, project development and mining services in Western Australia and Southern Africa. He has significant experience in the management of publicly listed companies, which includes the entire compliance, marketing and management process and encompasses the development of internal geological and administrative systems, exploration planning and execution, plus project acquisition and deal completion.
Mr Algar helped float and was Managing Director of Shaw River Manganese Limited from December 2006 – March 2012 and was responsible for successful capital raisings, which raised more than $40 million for the Company’s exploration and acquisition programs. He was instrumental in the $20 million acquisition of a 75.5% stake in the Otjo Manganese Project in Namibia, in 2011, which is currently being brought into production.
Mr Algar has worked on a wide range of commodities most recently in base metals, and uranium in Southern Africa as a consultant and analyst. Vincent is a member of the Australasian Institute of Mining and Metallurgy.
Mr Les Ingraham has been in private business for over 20 years and is an experienced mineral prospector and professional investor. He has successfully worked as a consultant for private companies as well as companies listed on the Australian Stock Exchange. Core competencies include capital raising, shareholder liaison and prospecting.
Non Executive Chairman
Mr Brian Davis BSc, DipEd RPGeo (MAIG) MAusIMM MAICD is a 40 year veteran of the resources industry and has been principal of exploration and resource development consultancy group Geologica Pty Ltd for the last 16 years. During his extensive career he has worked in exploration and mining for small and large resource companies focussed on commodities including gold, base metals, vanadium, iron ore, coal, rare earths and diamonds both in Australia and overseas.
Mr. Davis has a Bachelor of Science degree in geology at King’s College, London, UK in addition to a Diploma in Education from the University of Western Australia. A registered practising geoscientist (RPGeo), he is professionally affiliated with the industry by way of the Australian Institute of Geoscientists and The Australasian Institute of Mining and Metallurgy.
Non Executive Director
Mr Brenton Lewis BBSC (Hons) MBSC was a Senior Academic having spent the past 20 years in the tertiary education sector. He has held management positions including Head of Department and Head of Post Graduate Studies and chaired Boards of Management in both academia and community organisations. He has taught, published and researched in areas including Ethics and Psychopathology.
He has acted as a consultant to a number of agencies including the Hong Kong Hospital Authority and the Health Department, WA. He was the founding chairman of the James House Respite Centre and the Greg Nemer Foundation. He has and continues to serve on numerous Boards of Management including both academic and NGOs.
Mr Bassett is a Chartered Accountant operating his own corporate consulting business, specialising in the area of corporate, financial and management advisory services. Mr Bassett has been involved with numerous public company listings and capital raisings. His involvement in the corporate arena has also taken in mergers and acquisitions, and includes significant knowledge and exposure to the Australian financial markets. Mr Bassett has a wealth of experience in matters pertaining to the Corporations Act, ASX listing requirements, corporate taxation and finance. He is a director or company secretary of a number of public and private companies.
Last updated 22nd June 2015.