RAKI RAKI GOLD PROJECT, FIJI

(Peninsula Energy 50%)

 

Fig 1: Location of Raki Raki tenements in relation to gravity anomalies and deep crustal fractures.

Fiji's prospectivity is clearly demonstrated by its existing mines and advanced projects, which include:

 

  • Namosi porphyry copper-gold district (owned by Nittetsu Mining Co Ltd) contains a 'Measured Geological Resource' of 930 Mt of 0.43% copper and 0.14 .g/t Au
  • Vatukuola Mine (Emperor Mines Ltd) has a past recorded production together with stated resources which total over 7.5 million ounces of gold
  • Mt Kasi Gold deposit (Burdekin Pacific Ltd) is currently in feasibility study and has a reported resource of 3.665Mt of 2.56 g/t Au

 

Despite this endowment of mineral wealth, Fiji has been subject to significantly less exploration activity than any areas of comparable prospectivity in Australia. Prior to a major aeromagnetic survey flown as an Australian Aid project in 1997, Fiji in general, and the Raki Raki prospects in particular, have been subject to very limited application of modern geophysical exploration techniques.
Table 3 Summary of defined drill targets at Raki Raki

The Raki Raki project (Figure 6) comprises three main gold prospects (Qalau, 4300E and Tataiya Ridge) and numerous other gold anomalies in a geological setting similar to Emperor's Vatukoula deposit, 35 km to the south-west. All three of the main prospects are scheduled for drill testing following detailed IP surveys which will define drill targets.

 

  • The Qalau Prospect is a 900m x 500m zone of anomalous gold in soil values, with trench samples up to 6m at 4.28 g/t Au. Limited drill testing has yielded a best intersection of 6m at 2.5 g/t Au. Geopacific plans to carry out detailed IP surveys to highlight near surface drill targets.
  • The 4300E Prospect is a 200m x 450m gold in soil anomaly with pyritic quartz veins up to 7m wide encountered in trenching. Best intercept from limited drilling are 4m at 2.6 g/t Au from surface, and 26m at 1.3 g/t from 46m depth. Structural controls are not currently understood and Geopacific will use detailed IP surveys to locate targets for follow-up drilling.
  • At the Tataiya Ridge Prospect anomalous gold occurs in a 2000m x 600m zone of quartz stockwork veining and brecciation in basic volcanic rocks. Limited drill testing has not resolved the structure, and Geopacific will use detailed gradient array IP surveys to identify vein structures for drill testing.

 

Fig 2: Qalau Prospect Trench 11 looking northwest Fig 3: Tataiya Ridge looking south Fig 4: Raki Raki Project Schematic Geology