E79 Gold Mines identifies prospective area, increases drilling to 25,000m
After identifying new geophysical targets at the Pinjin joint venture, E79 Gold Mines has increased the initial aircore drilling program to 25,000m.
West Australian-based explorer E79 Gold Mines (ASX: E79) has identified a potential intrusion from preliminary gravity survey at its Pinjin joint venture at Laverton South.
The company, which listed recently after a $7 million initial public offering, says the intrusion within the greenstone stratigraphy requires further exploration.
E79, whose joint venture partner is St Barbara (ASX: SBM), has acquired ground gravity survey as well as 2D seismic data.
The Pinjin joint venture is part of E79’s Laverton South project.
Drilling planned after heritage surveys completed
E79 chief executive officer, Ned Summerhayes, said the company has been busy with geophysical work while completing heritage surveys ahead of drilling at Laverton South.
“The 2D seismic will be processed in due course and we look forward to unearthing more information about this highly prospective area,” he added.
Laverton South, 130km northeast of Kalgoorlie, is one of the company’s two projects in the North Murchison region, the other being Jungar Flats.
Mr Summerhayes said a gravity survey is about to get under way at Jungar Flats.
“Once completed, the baseline gravity data at Jungar Flats will give us valuable insight into the geology and structure under cover.”
Jungar Flats is located 70km west of Meekatharra and 45km from the 2.8 million ounce Big Bell gold deposit owned by Westgold Resources (ASX: WGX).
Survey puts historical drilling into perspective
Laverton South covers 346sq km, with the Pinjin prospect — which is subject to a E79 farm-in deal — covering 139sq km and containing a number of targets that have been evaluated by St Barbara. These include walk-up drill targets.
E79 says the now identified potential intrusion is significant as it puts into perspective the results from historical exploration.
There is a historic gold in soil anomaly and previous rotary air blast drilling identified anomalous gold, including 12m at 0.86 grams per tonne from 4m down hole and 8m at 0.23g/t from 24m to end of hole.
This target is considered by E79 as a high priority one, with planning for exploration and drilling now under way.
In the meantime, the company says it has increased planned drilling to 25,000m now that new geophysical targets have been identified.