Stawell is a historic goldfield that has produced approximately five million ounces of gold from both alluvial and hard rock sources dating back to the mid-19th century Victorian gold rushes. Since the commencement of modern day production in 1984 to the end of 2007, approximately 1.8 million ounces of gold have been produced from the Stawell ore body. Production for the full year 2008 is forecast to be 112,000 ounces of gold.
The dominant geological feature at Stawell is the 1.2 kilometre wide Magdala basalt volcanic dome surrounded by gold-bearing sedimentary formations. Historical mining occurs in four distinct settings: iron-rich sediments stratigraphically above the basalt; at the sediment-basalt contact; areas of sediment bounded by basalt (locally termed "waterloos"); and, in quartz lode shear structures parallelling the plunge and dip of the basalt dome. Waterloo, a historical term, refers to a mineralized zone, which lies between two lobes or flows of basalt. Historically, waterloo zones, when they occur, have added significant resources to primary zones by providing a secondary ore zone with similar grade as the main basalt contact mineralization (see Figure 1).
The geologic setting of the Stawell gold deposit shows similarities to other iron formation hosted gold deposits such as Lupin, Northwest Territories - and Homestake, South Dakota.
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