Mareeba Gold Project’s Untapped Depths Pose Both Opportunity and Risk for Clara

A Hidden Gold Opportunity Emerges

Clara Resources Australia Ltd (ASX, C7A) has revealed a significant breakthrough at its recently acquired Mareeba Gold Project in Far North Queensland. An independent technical review has confirmed the presence of a major vein-style gold mineralised system, previously underexplored due to the project's private ownership and the absence of modern exploration techniques.

The Mareeba Project, spanning approximately 180 square kilometres, lies within the historically rich Hodgkinson mineral field, a region known for its 19th and early 20th-century gold production. Historical mining operations in the area yielded exceptionally high grades, with some locations reporting gold concentrations exceeding 30 grams per tonne.

Historical Drilling Reveals Untapped Potential

Exploration in the 1980s by Western Mining Corporation (WMC) and Freeport-McMoRan involved shallow reconnaissance drilling, typically between 20 and 40 metres deep. Despite the limited depth, these programs identified multiple mineralised lodes with encouraging high-grade gold intercepts. Notably, every drill hole at the North Eastern Bounding Fault (North EBF) Prospect intersected gold mineralisation, outlining a continuous strike length of over 900 metres.

However, the historical drilling was broad spaced and shallow, leaving substantial potential for extensions at depth and along strike. Clara's Managing Director, Peter Westerhuis, emphasised that the historical data provides a strong foundation but materially under-tests the mineralisation, offering a compelling opportunity for modern exploration to unlock further value.

Strategic Exploration Plans Underway

Building on the encouraging review, Clara is poised to commence an accelerated exploration program. This will include validating historical data, detailed surface mapping, geochemical sampling, and a comprehensive drilling campaign. The drilling will focus on twinning historic holes to confirm results, infill drilling to better define vein geometry, and deeper drilling to test extensions below the oxide zone.

Beyond the North EBF, Clara plans to explore additional high-priority prospects such as Comstock, Brumby Ridge, and Lady Burdette Coutts (LBC), which have seen limited historical drilling but show promising gold mineralisation. For instance, the Tasmanian prospect nearby recorded a standout intercept of 3 metres at 34.3 grams per tonne gold, including a 1-metre section grading 96.5 grams per tonne.

Technical Confidence and Next Steps

The technical review was conducted by independent consultants with extensive experience in mineral resource evaluation, lending credibility to the project's potential. Clara aims to rapidly advance Mareeba towards a maiden JORC-compliant Mineral Resource, a critical milestone that could significantly enhance the company's asset base and market valuation.

While the historical data is promising, it is important to note that no JORC resource estimate currently exists, and the project's economic viability will depend on the outcomes of the forthcoming drilling and resource modelling. Clara's methodical approach, leveraging modern exploration techniques, positions it well to unlock the full potential of this underexplored gold system.