Altan Rio identifies 30 new anomalies at Southern Cross
Altan Rio Minerals Provides Southern Cross Exploration Update
- Over 30 new gold targets generated from revision of a magnetic survey.
- Field survey to be performed over the targets to prioritise for drill testing.
- Nickel anomaly detected to the west of Pilot open pit gold mine from a resampled historical drill hole.
- Follow up fieldwork, exploring and logging other historical drill holes in the area.
Altan Rio Minerals is pleased to provide an update on its ongoing gold and nickel exploration programs across its Southern Cross tenements in Western Australia.
A recent review of magnetic survey conducted by Newexco over Altan Rio Minerals’ Southern Cross tenements has successfully detected over 30 newly identified magnetic anomalies, along a 30km strike extent of the Fraser shear zone. These anomalies are located between the Bullfinch and Hopes Hill prospects.
“The recent interpretation work of electromagnetic surveying throughout the Fraser shear zone has immediately yielded high priority targets which the Company will be testing in the near future,” Altan Rio Minerals Chairman and Interim CEO, Graeme Sloan said.
“Our geological team have extensively reviewed the survey data and interpreted the anomalies to the east as sulphide-rich boudinage targets. These conductive anomalies are highly prospective for gold mineralisation and differ considerably from those to the west, which likely reflect the moderate presence of iron. These boudinage targets align directly with known gold deposits at historical gold mines, such as Pilot, and also with recent geochemical sampling at the Parisian target, which further improves our confidence in the model. We know that the Fraser shear zone is one of Australia’s top gold provinces and we now have targets for further mineralisation directly along strike which are largely unexplored. Many of these targets have not been tested beneath a depth of 50m, reflecting the limitations of historical exploration work. We know there is gold in this system and with more than 30 targets a soil sampling program will be undertaken. This work will very quickly let us know which of these targets have the potential to yield further economic quantities of gold from this extraordinary belt.”