GoldArc’s Historic Data Review Challenges Assumptions of Resource Exhaustion

Historic Data Reframes Cosmopolitan's Potential

GoldArc Resources Limited (ASX – GA8) has announced a compelling reassessment of the Cosmopolitan Gold Mine within its Leonora South Gold Project, revealing exceptional high-grade gold mineralisation previously overlooked. By meticulously reviewing and compiling historical underground channel sampling data from the early 1900s, the company has identified a rich dataset that challenges the long-held assumption that the deposit was exhausted.

The dataset comprises 969 spatially located channel samples taken from drives, stopes, and winzes within GoldArc’s tenements M40/02 and M40/342. These samples returned a striking average grade of 38.38 grams per tonne (g/t) gold over an average width of 1.07 metres. Notably, 68 samples exceeded 100 g/t, 227 surpassed 50 g/t, and 476 were above 20 g/t, underscoring the extraordinary grade and continuity of the mineralisation.

Standout High-Grade Intercepts

The review highlighted several remarkable intercepts, including a narrow 0.23m sample grading an astonishing 936.46 g/t gold, and broader zones such as 6.1m at 124.62 g/t and 4.27m at 119.84 g/t. These results suggest that substantial high-grade gold remains within the mine’s developed areas, which historically produced approximately 360,000 ounces at an average grade of 15 g/t down to 320 metres depth.

GoldArc’s Managing Director, Paul Stephen, emphasised the transformative nature of these findings – "The sheer number of outstanding samples suggests that substantial high-grade gold mineralisation was left behind in the historical workings. Given the economic thresholds of the era, there is significant upside in both remnant mining and virgin areas that were previously inaccessible or uneconomic."

Path Forward – Modern Drilling and Resource Definition

Armed with this historical insight, GoldArc plans to rapidly advance the project through targeted reverse circulation (RC) and diamond drilling programs. The objective is to validate the historic data and define a maiden JORC-compliant mineral resource estimate. This approach leverages modern exploration techniques to systematically test remnant zones and untested parallel lodes, potentially unlocking a significant high-grade resource.

Complementing this, recent regional work has confirmed the prospectivity of geological structures extending south from the mine, further bolstering the case for a substantial mineral system at Cosmopolitan. The company’s strategy reflects a disciplined focus on converting historical data into tangible resource growth and advancing development plans.

Context Within GoldArc’s Portfolio

The Cosmopolitan Gold Mine sits within GoldArc’s broader Leonora and Kookynie districts portfolio, which already hosts a combined JORC resource base of approximately 200,000 ounces of gold. The discovery of exceptional grades in historical data adds a new dimension to the company’s growth prospects, potentially enhancing the value and scale of its assets in a prolific gold region of Western Australia.

While the historical data predates modern reporting standards and lacks contemporary quality assurance protocols, it provides a valuable vector for exploration. The company’s next steps will be critical in confirming these results and translating them into a resource that meets current industry standards.