As a reminder. I'm 99% we have a massive gold find5 Jun 2021 21:15
Simon Beams, the Managing Director and Principal Geologist of Terra Search, commented, "The detailed magnetic survey substantially expands and enhances Red Setter. There are some very promising indications of a large hydrothermal system, with similarities to the new Havieron gold/copper discovery in the area. The previous drilling on the main 1.5km long target intersected similar alteration, and the right pathfinder metal indicators, peripheral to the main target. We now have multiple untested high-order magnetic targets across the entire prospect."
Terra Search, Wishbone's prime Australian exploration consultants, who have considerable exploration experience in the nearby Havieron gold discovery, have concluded a technical review on the Red Setter Project's ultra-detailed airborne magnetic survey conducted by MAGSPEC Airborne Surveys Pty Ltd and the processing and interpretation work conducted by Value Adding Resources (VAR), and report as follows:
The Red Setter Project is situated on the 57.4km2 wholly owned Exploration Licence EL45/5297 and is located 13 km south-west of Newcrest Mining's Telfer Gold-Copper Mine and 60 km west of Newcrest and Greatland Gold's Havieron discovery (Refer Figure 8).
MAGSPEC Airborne Surveys Pty Ltd recently completed a high resolution and ultra-detailed airborne magnetic survey across the entire Red Setter Project. The survey was completed on 100m line spacing and covered a total of 666 line-kilometres.
Processing of the significantly high-resolution magnetic datasets (Refer Figure 2), by VAR, has revealed that the magnetic bodies occur much closer to surface relative to their previous reported 150m-250m depth that was modelled on the wider spaced regional magnetic datasets. The relatively shallower target depth is strongly advantageous both from an exploration and future development potential perspective.
The highest priority magnetic bodies within Red Setter (Referred to as Targets A, B and C in Figure 1) cover an expanded area of 3.5 km in strike length and 1 km in width. The highest order Target A occurs over a strike length of 1500m with a width of 400m and occurs within 50-75m of surface. Results of this modelling shows several north plunging magnetic bodies within this anomaly of equivalent susceptibility (possibly pyrrhotite alteration) to that evident at both Newcrest Mining and Greatland Gold's Havieron and RioTinto's Winu discoveries .
Figure 1: 3D Inversion Model of the Magnetic Anomaly at Red Setter (left)
and Horizontal Gradient Magnitude RTP TMI image (right) - see link above to view
The 3D magnetic inversion (Figure 1) looks at the required shape of magnetic bodies of a particular magnetic susceptibility to produce the observed disturbance in the earth's magnetic field. The 3D magnetic inversion has used magnetic susceptibility values consistent with the Havieron deposit. The series of plunging bodies could represent alteration systems associated with a hydrot
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