Albion Resources Limited (ASX:ALB) Discovers Seven High-Priority Anomalies at Ives Find
Exploration Results
Albion Resources Limited (ASX:ALB) has completed a Gradient Array Induced Polarisation (GAIP) survey over a 2.4 km by 1.2 km area at the Ives Find Prospect. The survey identified seven coincident resistivity and chargeability anomalies, indicative of quartz silica alteration and sulphide, supported by historical gold-bearing quartz vein samples. Notably, the central areas of these anomalies have not been previously drilled, making them high-priority targets. Additionally, an extra chargeability anomaly to the west of the granite intrusive contact has been detected, warranting further investigation. The anomalies extend open to the northwest and southeast and share characteristics with other granitic intrusive-hosted deposits in Western Australia.
Future Plans
Albion plans to extend the GAIP survey to the northwest and conduct a Dipole-Dipole Induced Polarisation Survey to refine the depth and orientation of the anomalies. The collected data will be combined with soil samples to prioritise drill targets for the upcoming mid-year drill campaign. The company is also awaiting results from a second GAIP survey grid at the highly prospective Barwidgee Fault.
Executive Comments
CEO Peter Goh stated, “The Gradient Array IP survey results are highly encouraging, highlighting seven significant, largely untested anomalies, and trends that reinforce the prospectivity of the Ives Find area. We are eagerly anticipating the soil sample results, and the additional IP surveys, which will provide crucial insights and guide our upcoming drill campaign, which should commence mid-year.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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