Morning Star Gold NL     (ASX: MCO)

MCO is an ASX listed gold explorer and mine developer, focused solely on historically known high grade gold production targets in the rich Eastern Victorian Goldfields. The Woods Point Gold Project is located 120km east-nor-east of Melbourne, Australia adjacent to the historic gold town of Woods Point and is accessed either via the picturesque Yarra Valley & Marysville or Mansfield.

The Woods Point Dyke Swarm and nearby Walhalla together comprise one of the most significant gold fields in Australian history. Known production was 155 tonnes or ~6 million ounces of Gold since the early gold rushes after 1850. Production grades were close to an ounce per tonne. Morning Star Gold has rebuilt and reopened the main shaft and drives to the 1,000ft level of its 100% owned namesake mine. The famous ‘Morning Star’ mine was at one point in the early 1940s Australia's premier gold mine run by GMA (WMC).

Over 5kms of underground resource diamond drilling has been completed and multiple ore targets identified. MCO is primarily targeting areas of the mine which were largely unexplored by WMC between 1934-1959 or developed but not stoped at that time. The primary current production targets are in the upper areas of the mine (100m-280m depth). The under-developed 'Gap Zone' in the mine lies between the prodigious Whitelaws and Achilles production zones (~200m-650m depth) and contains ~60 Million Tonnes of gabbro/diorite-dyke host rocks with only 6 historic drill holes recorded. This is a priority exploration area in coming quarters.

Morning Star Gold holds the largest aggregation of Exploration and Mining Licences in the Woods Point Dyke Swarm with over 220km² tenements. Historical production from MCO's tenements is ~2 million ounces of gold. Morning Star is modelling its regional dykes in order to assess an overall gold endowment and rank local production sources to feed its proposed Woods Point production hub at the Morning Star mine site. Key initial targets (all within 11kms of the Morning Star mine) are the Waverly, All Nations, Rose of Denmark, Hunts, Wallaby and Loch Fyne dykes, all of which historically produced high grade gold, much of it gained from shallow workings above the water table.