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(Sharecast News) - Geo Exploration said on Tuesday that an airborne magnetic and radiometric survey had been completed at its Gorge project in Western Australia, as the company advances early-stage exploration and drill targeting work.
The AIM-traded company said the fixed-wing survey was completed last week by Magspec Airborne Surveys, ahead of schedule.
The data would be used to support a litho-structural geological interpretation of the project area and feed into ongoing drill targeting and the design of proposed geochemical survey programmes.
Exploration manager Tom Harris is currently on site carrying out field reconnaissance, including validation of historical workings, geological mapping and assessment of priority areas identified from historical exploration data.
Chief executive Omar Ahmad said momentum was building across the project.
"The completion of this survey represents an important step in refining our geological understanding of Gorge and will assist in prioritising targets for follow-up geochemistry and drilling," he said.
"With Tom Harris on-site leading field activities, we are moving quickly and methodically through the planned exploration work programme.
"We look forward to updating shareholders as the results of this work are received and interpreted."
The Gorge project, held through Geo's wholly-owned subsidiary Gorge Gold, covers 81 square kilometres under exploration licence E08/3737, around 110 kilometres west of Paraburdoo in Western Australia's Capricorn Orogen.
Geo said the project was considered highly prospective for large-scale orogenic- or Carlin-type gold systems.
Limited historical exploration had identified widespread gold mineralisation over about five kilometres of strike, supported by drainage, soil and rock chip sampling, historic workings, and alluvial and eluvial gold mining.
Historical results include rock chip samples grading up to 134 grams of gold per tonne, soil samples returning up to 233 grams per tonne, elevated drainage sampling values and multiple near-surface gold nuggets ranging from less than two grams to more than 100 grams.
The company said those results, together with the proximity of the nugget recoveries, suggested the potential for a primary bedrock gold source within the licence area.
At 0925 BST, shares in Geo Exploration were down 3.31% at 0.14p.
Reporting by Josh White for Sharecast.com.
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