High quality assets highly prospective for copper, cobalt and gold in the Yukon Territory, Canada and Western Australia
CLOSED 21 March 2018
- High quality assets highly prospective for copper, cobalt and gold in the Yukon Territory, Canada and Western Australia
- Focusing on progressing exploration and accelerate potential development of the Projects.
- Experienced management and exploration team which is well qualified to exploit the potential of the mineral assets.
- The Board has significant expertise and experience in mineral exploration, project development and corporate finance.
Rafaella was established with the purpose of exploring and developing gold, cobalt, copper and other mineral opportunities. Rafaella has the right to acquire the McCleery Cobalt Project in Yukon Territory, Canada and the Sandstone Gold project in Western Australia.
- January 2018, entered into the OVR Agreement pursuant to which, subject to satisfaction (or waiver) of certain terms and conditions, Rafaella will acquire all of the issued share capital in Overland BC and consequently, a 100% interest in the McCleery Project.
- January 2018, entered into the Tenement Acquisition Agreement pursuant to which, subject to satisfaction (or waiver) of certain terms and conditions, Rafaella will acquire a 100% interest in EL53/1920 and ELA57/1055, within the Sandstone Project.
- Upon settlement the Acquisition Agreements, Rafaella Resources Ltd will have:
- 100% interest in the McCleery Project by virtue of its 100% shareholding in Overland BC,
- 100% interest in the Sandstone Project by virtue of its 100% direct interest in EL53/1920 and ELA57/1055.
- Consists of 42 granted mineral claims covering ~9 km 2 in the Yukon Territory, Canada, prospective for cobalt and copper.
- Undrilled, early stage Copper-Cobalt exploration opportunity. No work has been completed on the Project since 1983 and there is no knowledge of the Project having been drilled.
- Historical rock chip sampling returned results up to 15.6% Cu and 461 g/t Ag, including one sample which returned 0.76% Co and 14 g/t Ag.
- Host cobalt minerals, including cobalt bloom, a secondary cobalt mineral known as erythrite and cobaltite (cobalt sulphide). The two main reported cobalt occurrences are separated by about 1km, with the favourable host lithology stated to be present between them.
- Soil sampling has delineated 3 discrete copper-in-soil anomalies coincident with a magnetic anomaly.
- Rafaella intends to explore the McCleery Project, focusing on the potential for the Project to host economic cobalt mineralisation.
Sandstone Gold Project
- 250sq km’s of exploration licenses in the Gum Creek Greenstone Belt prospective for gold mineralisation and adjacent to Horizon Golds (HRN) 1.25m ounce Gum Creek Deposit, located between Meekatharra and Sandstone in Western Australia.
- These tenements are currently held by Topdrill Pty Ltd from whom Rafaella Resources Ltd has entered into an agreement to acquire a 100% interest in these tenements.
- Comprises extensions to structures which host mineralisation at the Gum Creek Project with their prospectively demonstrated by the presence of historical workings and gold-in-soil anomalies.
- The mining and production history of the Gum Creek Project has shown widespread gold occurrence and significant potential for further discoveries.
- Various targets have been defined on the Sandstone Project by former tenement operators, targets include numerous historic gold workings, soil gold anomalies and RAB gold anomalies; many of which are considered to remain untested.
- Additionally, large areas of the Project remain essentially unexplored whilst covering favourable structure and geology.