Terra Search MD's comment on RS22 May 2021 22:04
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."
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 .
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