New Gold Targets Identified in Historic NZ Goldfield by Structural Study
Melbourne, Nov 20, 2014 AEST (ABN Newswire) - Strategic Elements (
ASX:SOR) is pleased to announce that modern technology has identified multiple structural gold targets across the historic Golden Blocks project in New Zealand, with five targets untested by modern sampling programmes.
Structural studies aim to identify potential sites (faults, folds, contacts between geological units etc.) where gold-bearing fluids are focused from structural fairways into mechanical and chemical traps. In a project such as Golden Blocks, the most structurally complex areas are commonly the best gold targets.
The Company commissioned leading exploration consultants SJS Resource Management Pty Ltd to conduct the first structural study of the historic goldfield area using modern technologies incorporating satellite imagery, existing geological maps and geochemistry.
Key Outcomes
Applying modern technology to a forgotten historic goldfield has generated multiple targets that have been ranked for follow-up ground fieldwork directed towards identifying drilling targets:
A. Eleven structural targets were identified with five of these untested by any previous sampling.
B. Three structural targets have positive geochemistry results and overlap with mapping and Landsat imagery target areas making them high priority targets.
C. One of the priority targets is located close to the upper Webb stream area where the Company reported initial geochemical sampling in panned concentrates of 51.3 g/t, 39.9 g/t, 39.7 g/t, 21.2 g/t gold and 6.8 g/t gold. (Announced 02/09/2014.)
D. Landsat-8 images were processed and used to delineate linear features that may appear due to faults, joints or bedding. The intersections of the tectonic linears were then calculated and a heat map produced to show the areas of greatest complexity (i.e. areas with most cross-cutting features). Using this method five targets were identified outside of the target areas generated solely from earlier geological mapping.
Exploration Strategy
The Company has been building multiple exploration targets across the Golden Blocks project area through the discovery and cataloguing of historical information, location and inspection of the historic mines within the goldfield, fieldwork along strike from these mines and fieldwork in the wider regional area. Historical and recent data have been combined within the structural review to identify structural targets within the Golden Blocks project and rank them accordingly.
Fieldwork
The Company has deliberately followed a de-risking exploration approach to the project. Many areas within the project are previously un-explored by modern exploration techniques. The project area has not been drilled despite hosting 5 historic mines and numerous areas of high grade gold in drainages. Initial cost effective exploration work (geological mapping, geophysics, geochemistry sampling) is being conducted in order to establish quality drill targets with the aim to find high-grade deposits. The Company is currently working with a select team of advisors to design the most appropriate follow-up field program.
To view figures, please visit:
http://media.abnnewswire.net/media/en/docs/78717-ASX-SOR-20141119.pdf
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
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