The Blackwood Gold Province

Background Information

The Entrepreneurial Company Pty Ltd (TEC) has entered into an agreement that gives it the rights to parts of The Blackwood Gold Province. TEC will then hold the net smelter gold return (after all costs). TEC will continue to grow the gold reserves and introduce an eWallet engine that will allow people to hold, trade and spend the 1ozg crypto coins in the real world.

Victoria is experiencing a revival of Gold mining and exploration at depth in historical mining provinces

The area inside the white outline is The Blackwood Province.

The area marked orange contains the gold resource that backs the 1ozg crypto coin.

The funds raised by TEC in its book build, will be used in part to complete the acquisition and in part on business expansion plus an exploration program to prove up a further 120,000 oz in situ gold reserves.

Historical Information

The Blackwood Gold Province is an historical Australian gold mining area hosting 120,000 ounces of gold. The town of Blackwood, had 200 people living there in January 1855 but after a major discovery, it grew to over 13,000 in 6 months. All nationalities flocked to the town, living in tents and hoping to find their riches. At one point, there was over 500 Chinese living there.

The gold was first was discovered in 1854 but it was not till an Englishman called Edward John Hill found gold at Blackwood on January 4th 1855, that the rush really started. See a copy of the original claim here. He died 12th March 1891 and is buried in the Blackwood cemetery (Paul Hester from Crowded House is also buried at Blackwood cemetery).

See headlines below as an example on some of the news that Blackwood has attracted over the years

(an adjoining property not part of TEC's acquisition)

The Sun -April 9th 1986 - Page 46

Blackwood gold find ‘significant’

SYDNEY, AAP –

Western Gulf Oil and Mining Ltd’s initial gold exploration program in the Blackwood area of Victoria has indicated one million tonnes of ore with a gold content up to 15 gm a tonne.

Western Gulf’s told the Sydney Stock Exchange yesterday that exploration of ore focussed on the Simmons Reef and Rogers Big Hill areas (ML35 and ML810).

The exploration suggested a “reasonable” target was one million tonnes of ore to a depth of 300 metres, with a gold content greater than 8 gm a tonne.

Although gold distribution within parallel reefs could be erratic, recovery calculations from old mining records suggest an average grade between 10 to 15 gm a tonne was realistic.

By comparison, Australia’s current richest gold mine, Kidston, in north Queensland, indicated samples of 1.86 gm a tonne, with estimated reserves of 64.48 million tonnes of ore.

Western Gulf’s four preliminary drill holes included a gold intersection of 42.2 gm a tonne over 1.6 metres in Simmons Reef.

Previous drilling results included intersections of 115 gm a tonne over 0.4 metres at Simmons Reef and 128-590 gm a tonne over 0.6 metres at Rogers Big Hill.

The geological consultant’s tentative assessment indicated current samples represented a resource of 260,000 tonnes to 300 metres below existing workings, at a possible grade of 11 gm a tonne.

The company said it was reviewing the results before planning the next stage of its exploration program.

Under a joint venture agreement with Grants Patch Mining Ltd, Western Gulf is earning a 50 per cent interest in ML35, part of ML810 and MLA1041.

Grants Patch is now developing the same reef system.