Zuleika Gold Limited is a gold exploration and mining company with four major exploration projects and one development project, namely a farm-in Joint Venture on the K2 Gold Mine in the East Murchison Goldfields in Western Australia. For K2, Zuleika has the right to earn a 50% interest in the project for the expenditure of up to A$3M.
Zuleika Gold in October 2019, entered into Farm-in Joint Ventures with Torian Resources Limited (ASX:TNR) whereby Zuleika has the rights to earn into two areas adjacent to Kalgoorlie, namely Zuileika Gold (75%) and Credo Well (50%) in a region which has produced >20 million ounces of gold. The region has a number of mines currently being operated by Evolution Mining Limited (ASX:EVN), Northern Star Limited (ASX:NST) and the largest Chinese gold producer, Zijin Gold. Zuleika during its due diligence consolidated the historical data bases with Torian data and generated ~30 priority targets at Zuleika Gold and 11 at Credo. The Company is confident that with focussed exploration it will discover a commercially viable deposit. Exploration is to commence in the March Quarter 2020.
Zuleika Gold has acquired interest (80%) in two tenements north of the gold mining centre of Kalgoorlie at Menzies (196 km²) and Goongarrie (154 km²). Zuleika now has a presence in the gold-rich Kalgoorlie region and is excited about the scope to undertake exploration on this relatively under-explored ground in this region.
Zuleika Gold 100% over ~1,000 km² of exploration tenements covering several ancient paleo river channels in the Kimberley Region of Western Australia, referred to as the Ruby Plains Placer Gold Project Ruby Plains are considered prospective for older (Tertiary circa 50Mya) biogeochemical enriched gold deposits and younger (Quaternary circa 3Mya) quartz pebble conglomerate and gravel placer deposits similar to the Californian Goldfields. The historical Halls Creek Goldfield lies to the north west which is believed to be the potential source of gold in the paleo-channels at Ruby Plains.
Zuleika Gold Limited has the right to earn up to a 50% equity interest in the partially developed K2 Gold Mine under a binding farm-in joint venture with Vango Mining Limited (ASX:VAN). The K2 Gold Mine has a Measured, Indicated and Inferred underground Resources to 374,000 tonnes at 8.9 grams/t for 107,000 ounces.