Mount Ruby and Ruby Prospect

Mount Ruby (ML 20414) and Ruby Prospect (MLA 100142) are located approximately 18 km northwest of Ravenshoe, in the Millstream locality, North Queensland. Mount Ruby is approximately 85 km south-south-west of Cairns and can be accessed via Wild River Road and cleared tracks on Wild River Station (owned by TMG) and Mount Ruby Station.

EPM 26536 is comprised of two sub-block groups, which are located in the Silver Valley locality, North Queensland. The first sub-block group is located approximately 18 km west of Ravenshoe and approximately 90 km south-southwest of Cairns, with access directly from Silver Valley Road and Wild River Road and via station tracks. The second sub-block group is located approximately 25 km northwest of Ravenshoe and approximately 80 km southwest of Cairns, with access from Silver Valley Road and station tracks.

The Mount Ruby deposit has been drilled on a sub 50 m over the bulk of the deposit. The geology is well defined and understood. A large sample inventory has been generated allowing for detailed geochemical analysis and is still retained by the Company.

From a metallurgical point of view the Mount Ruby deposit is a magnetite and garnet deposit in skarn, with minor haematite and goethite. Three drill core samples were obtained to represent the range of magnetite concentrations in the skarns. QemScan mineralogy was carried out on a sample of high-grade skarn (57% Fe), and the results show mineralogy dominated by magnetite with small inclusions of haematite and garnet. The mineralogy of the other core samples was assessed visually as similar, though with varying rations of silicates to magnetite.

Further EPM 26536 targets

Fluorite occurrence on EPM 28286 border with this EPM which hints at potential of wrigglite. This area is also broadly down strike form Mount Ruby, Windermere and Deadman’s Gully.

Numerous tungsten and tin occurrences are also associated with the above-mentioned trend.