Seismic indicates that gold at Magnetic’s HN9 goes deep. Real deep.
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Magnetic has uncovered further potential for deep gold mineralisation at its Hawk’s Nest 9 project with 2D seismic highlighting multiple stacked structures.
The structures, which correlate with the shallow easterly dips of mineralisation at both HN9 and Lady Julie, extend down to between 1.5km to 2km depth at HN9 and 1km at Lady Julie.
More importantly, the surface gold mineralisation at both projects correlate with individual thrusts that persist and continue down to great depths.
Magnetic Resources’ (ASX:MAU) managing director George Sakalidis noted that the early result from the 8km long seismic survey has already demonstrated the presence of a 2km wide thrust domain that contains six major individual thrusts.
“The most eastern thrust correlates with HN9 and shows that its depth continuity may be as much as 2km, which provides an exciting early target for deeper drilling planned to 400m depth,” he explained.
“In addition, the western thrust of the HN9 thrust package is interpreted to correlate with anomalous soil geochemistry at Wheel of Fortune and a soil anomaly at HN5.
“Lady Julie has a steeper thrust package which also shows depth continuity to at least 1km depth.”
Sakalidis added that there are many other thrust structures – particularly those that come close to surface – that will be investigated for any correlation with anomalous soil geochemistry and RC drilling gold intersections to prioritise the structures.
The company is currently carrying out large drilling programs and expects to define deeper targets from the final interpretation of the seismic data.
The seismic interpretation completed so far covers the 8km east-west line centred on HN9 and Lady Julie areas. It has highlighted six individual thrusts that come close to surface in a 2km thrust zone.
These are all prospective for HN9 type deposits and are contained within a very distinct domain that is underlain by a separate domain with flat lying reflectors to the west.
Over at Lady Julie, the thrust zone is 500m wide and has three persistent thrusts that go down to a 1km depth.
New targets have also been generated, one of which has a correlation with and may extend through the Wheel of Fortune anomalous soil geochemistry and further northwards to the anomalous soil geochemistry on the western part of HN5.
The next seismic interpretation will cover the 8km north-south line before moving on to the large passive survey that covers a 30sqkm area.
Magnetic is also reprocessing two 2D seismic lines acquired by Geoscience Australia on the Old Laverton road and through the Wallaby Deposit area.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.