New part of Gympie region to be scoured for gold
THE goldrush is back on in the Gympie Region and the Mary Valley is tagged as the next area for exploration.
A new mining exploration permit is being sought over the Dagun, Amamoor and Traveston areas and one expert says they show promising signs of producing the precious metal.
The application has been made by New Gympie Gold Pty Ltd.
MORE GOLD MINING NEWS
If granted it will allow the company to hunt for new sources of gold.
And there is confidence it will be found.
OreFox CEO Warwick Anderson, whose company is undertaking the exploration, said the huge amount of data accumulated in the past pointed to Gympie's gold days as being far from finished.
Mr Anderson said his company relied on the magic of modern technology and previous testing and research in its hunt for gold.
"We pool all of the historical data - and look at how well it was put together."
He said most of the work was now done well in advance of any permits being sought.
And with Gympie's extensive mining history, which stretches back more than 150 years and by companies like El Dorado, Mr Anderson said there was already a wealth of data available for them to rely on.
"It's like doing linear regression (a statistical model which tries to fit one clear line to multiple data points) with 120 million variables," he said.
"That's why you can re-cover these older areas.
"Gympie is a really good one for it."
The area under application is next to four other permits that have been granted.
Earlier this year West Australian company Gold Explorer Pty Ltd asked for a mineral development licence to continue their own explorations over a 600ha section of the region.
This proposed area started south of Aldi near Gympie Central Shopping Centre, extended to the edge of Six Mile Creek and west to The Dawn's border.
That licence, if granted, lasts five years but can be extended for another five years.