RE: rns17 Jul 2018 09:57
Highlights of New Exploration Programme
· New exploration programme at Black Hills to commence next week
following the receipt of drilling approvals from the Australian Department of
Mines, Industry Regulation and Safety;
· First phase of new exploration programme includes plans for a 3D
Induced Polarisation ("3DIP") survey covering a strike length of 1,200 metres
over the high grade gold mineralised zone identified at the Saddle Reefs
prospect during recent field work (see announcements dated 21 June 2018 and 2
July 2018) and areas immediately to the north and south of that zone;
· A review of historical Induced Polarisation ("IP") data collected at
Black Hills has highlighted the potential for 3DIP geophysics to assist in
outlining the orientation and depth potential of gold mineralisation that has
been identified at surface;
· 3DIP survey is expected to take approximately two weeks to complete
and survey data will be processed with modern inversion techniques to provide
detailed 3D chargeability and resistivity models which will assist with drill
programme planning.
Gervaise Heddle, Chief Executive Officer, commented: "Recent exploration
success at Black Hills, including the collection of multiple pieces of gold
and gold nuggets at surface, has clearly highlighted the licence's
prospectivity for high-grade, near-surface gold mineralisation. The
identification of visible gold at surface means that exploring Black Hills'
potential will be a relatively low-cost and low-risk endeavour, but one with
substantial upside potential.