The Beowulf Gold Project was pegged in July to October 2017, with the project covering 490km2 of highly gold prospective greenstone sediments. In early September 2017, the prospectors in the centre of the leases approached the Company with the possiblility of a JV or sale of 4 granted single graticule ELs. These ELs have been successfully mined for surface nuggets since 2006 and the areas of surface disturbace give two parallel zones over two kilometers in length.
Remote geophysical data recently released from Geoscience Australia identified the possibility of greenstone belts (mafic and sedimentary units) in the area, rather than previously interpreted granites.
The leases were pegged on this basis, and a field trip confirmed the rocks are in fact greenstone belts, and that there are already have eluvial gold workings over the area.