Mt Dimer covers 2,480.6 hectares and is located in the Archaean Diemals-Marda Greenstone Belt. It contains high-grade quartz vein hosted gold mineralisation and is located approximately 120km north-east of Southern Cross with access via an all-weather gravel haul and service road. This was also the site of previous mining operations. Mt Dimer has a high-grade JORC Compliant Resource of 377,200t at 5.8g/t for 70,320oz gold.
Mining commenced at Mt Dimer in 1990 and continued until April 1997. The gold mine at the site produced 639,790 tonnes at 6.5g/t gold for 133,000oz of gold and 183,000oz of silver. This production was from both open pit and underground mining.
Shortly after acquiring the Mt Dimer assets, Vector commenced a detailed geochemical auger drill program over the five Mt Dimer mining tenements, collecting 3,487 samples. Results of this program have identified 17 new greenfield gold targets and five extensional targets to historical workings that were previously not identified.
In August 2011, Vector commenced a reverse circulation (“RC”) drilling program at Mt Dimer, consisting 147 holes totalling 14,770 metres to explore potential extensions of the historical pits while expanding the understanding of the near mine geology. Anomalies and intercepts previously identified by shallow rotary air blast (“RAB”) and RC drilling will also be investigated as part of this program.
To-date, initial assay results from the program have identified substantial mineralisation at depth and along strike, as well as a significant intercept that will require further delineation for resource construction. With 78 holes in the program currently completed, thus far the drilling program has demonstrated that Mt Dimer has the potential to increase the current resource at the project.
Between May - August 2012, one exploration licence and two prospecting licences for ground that is adjoining to the north of M77/427 and M77/428 were granted.