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$25 Million Gympie Gold Exploration Program

29 August 2002

Australian exploration, production and marketing company Gympie Gold Limited today announced the launch of a three-year $25 million Gympie Goldfield Exploration Program. This is the largest exploration program in Queensland and one of the largest gold exploration programs in Australia.

The exploration budget for 2002-03 is $7 million for drilling-based activities of which $4 million is directed at grassroots targets in the Gympie Goldfield following recent successes:

  • Discovery of gold mineralisation only 500 metres laterally from the new Lewis Decline in the Southern Gympie Goldfield area named the Patridge Graben (see Figure 1). As reported in the recent Quarterly Report, resources delineated to date at Partridge are 100,000 ounces.
  • Re-processing of geophysical data resulting in recognition of likely extensions of the major feeder system, the Inglewood Lode to the northwest and to the southeast of current mine areas over a strike length totalling more than 4 kilometres (see Figures 2 and 3).
  • Identification of 14 additional prospects within the Gympie Goldfield, in which we include the Gympie Basin that surrounds the gazetted goldfield. Each of these prospects has the potential to host a major gold system.


  • Announcement (270 Kb) [ pdf ]


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    Last Modified: Monday, 25-Nov-2002 06:33:20 EST