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10/05 - Waratahs exploration (Majors South)

The Majors South project is comprised of a single exploration licence which covers an area of approximately 260 km2. The project is located 65km south east of Canberra and 5km south of the Majors Creek gold project held by Cortona Resources Limited (ASX:CRC) which continues to yield spectacular bonanza gold grades at Dargues Reeef of up to 103g/t. The current resource at Dargues Reef is 1.44Mt @ 6.2g/t for 286,000oz (

The hard rock gold deposits of the Majors Creek goldfield occur mainly in narrow (1-10cm) sub vertical quartz veins, which are generally associated with aplite dykes in east-west trending fractures. The aplite dykes incorporate hornblende granodiorite, an older phase of the Devonian Braidwood Granite, and are associated with all known reefs in the area

Historical mining focused on alluvial gold deposits of the Araluen/Upper Shoalhaven goldfields. Records show that production from these goldfields between 1858 and 1920 was in excess of 1.2 Moz Au.

WaratahÔÇÖs exploration focus will be centred on potential hard rock gold targets as opposed to alluvial targets. Based on detailed geochemical surveys and percussion drilling, the Long Flat Volcanics are also considered very prospective for gold mineralization.

Waratah has recently completed a review of the project area and are in the process of designing and planning an aeromagnetic and radiometric survey over the eastern portion of the tenement, which adjoins Cortona's tenement, to identify favourable structures for targeting of future drill programs.

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