IRIS Metals (ASX: IR1) has identified 24 high-priority targets from a high-resolution aeromagnetic survey over the entire Kookynie gold project, in Western Australia’s goldfields region.
The company contracted Magspec Airborne Surveys to conduct the work with the intention of confirming and identifying structural target zones across the project tenure which are capable of hosting high-grade gold mineralisation.
Data was collected at 50m line spacings for a total 6,342 line kilometres and an average sensor height of 30m above ground level.
The survey was enabled by the acquisition of detailed magnetic data which helped improve IRIS’s interpretation and modelling of the project’s bedrock geology and structural framework.
Data also allowed the company to accurately delineate strike extensions to known mineralised structures.
Interpretation of the airborne survey identified 24 structural geological gold targets requiring further evaluation.
They are in addition to drill-ready, historic gold prospects within the project area.
Only three of the targets – Lily, Rise & Shine and Treasure-Whale – have been included as part of a maiden 5,000m drilling program focusing on areas with a history of hosting high-grade gold mineralisation.
Drilling at Lily aims to test around the old high-grade workings and at depth along 400m of a prominent north-east trending, south-dipping feature in the Niagara Gabbro Complex.
At Rise and Shine, IRIS aims to locate and test continuity at depth of apparent low angle, southerly-dipping, east to northeast-striking quartz veins and stockworks.
And at Treasure-Whale, the company will test prominent shallow structures and test for depth extension.
The remaining prospects will be tested as part of future exploration.
IRIS has drilled 4,500m of its maiden program to date – keeping it ahead of its planned schedule – and will proceed to drill walk-up targets while the rig is still onsite.
Chairman Simon Lill said the airborne survey data confirmed a high level of prospectivity associated with the Kookynie tenement portfolio.
“Kookynie is a historic high-grade gold field that has experienced little modern-day exploration and we believe the historic workings only scratch the surface,” he said.
“Our aeromagnetic interpretation shows the potential for discoveries and extensions at depth, along strike and beneath areas of alluvial cover [and] we look forward to systematically testing these new structural features during future drill programs.”