Morning Star Gold NL  (ASX: MCO)

Morning Star Gold is a gold explorer and imminent producer, with 220km2 mining and exploration tenements centred upon historic high grade gold production ore bodies in the rich eastern Victorian Goldfields. MCO's Woods Point Gold Project is located 120km northeast of Melbourne, Australia adjacent to the famous gold towns of Woods Point and Gaffney's Creek.

The Woods Point Dyke Swarm and the nearby town of 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 of the 1850's but much was unreported in the early years so figures are conservative. Production grades were close to an ounce per tonne in many of the 'dyke' hosted deposits. Morning Star Gold has rebuilt its 100% owned 'Morning Star' mine with a view to 2009/10 gold production. The main vertical shaft & drives to the 1,000ft level have been reaccessed and prepared for mining. The Morning Star mine was at one point in the early 1940s Australia's premier gold mine run by Gold Mines of Australia (WMC Ltd).

Morning Star Gold holds the largest aggregation of Exploration and Mining Licences in the Woods Point Dyke Swarm with its 220km² tenements. Historical production from MCO's tenements is ~2 million ounces of gold. Morning Star is modelling its regional dykes in order to estimate 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, Reliance and Loch Fyne dykes, all of which historically produced high grade gold, much of it gained from shallow workings above the water table.

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