Survey results reveal four priority discovery targets
Today, we shared promising results from four recent Induced Polarisation (IP) surveys.
The surveys were conducted in the Nymagee District, 100 kilometres from Cobar in New South Wales, and have revealed exciting anomalies in the next step to a new polymetallic discovery.
All four prospects – Lyell-Burge Trig, Piney, Vaucluse and Lancelot – contain high chargeability levels, including 90 millivolts per volt (mV/V) at Lancelot where levels of 10-15mV/V warrant drill testing.
The results at Lancelot are especially intriguing and have significantly upgraded its mineral prospectivity and advanced the prospect through Aurelia’s exploration pipeline.
The surveys have fast-tracked the target definition process, and fine-spaced soil sampling is planned for all four prospects in the June quarter followed by drill testing if results are favourable.
Interim Chief Executive Officer, Andrew Graham spoke about the recent IP Survey results.
“We continue to invest in our extensive exploration portfolio because we strongly believe there is high prospectivity for multiple deposits like Federation just waiting to be discovered.
“With another 39 explorations prospects in the Nymagee District displaying confirmed physical mineral occurrences or alteration systems, we look forward to turning this tenement package into a source of substantial value for our shareholders,” Andrew concluded.
For further detail about the results of the IP surveys see the ‘Exciting survey results reveal four priority discovery targets’ ASX Announcement on our ‘Company reporting’ page. Further information about our exploration prospects and activities can be found on our ‘Exploration’ page.
Above right: Lancelot Pole-Dipole IP survey lines and chargeability pseudosections (0.0 mV/V – 85.0 mV/V range) with potential sulphides represented by hot colours