Lanthanein Resources Ltd (ASX:LNR, OTC:FRNRF) has wrapped up six moving loop electromagnetic (MLEM) survey lines over gold, copper and nickel geochemical targets at the company’s Lady Grey Project at Mt Holland in WA’s Yilgarn Province.
Expansion of exploration
This survey is part of Lanthanein's ongoing efforts to expand exploration at its Lady Grey tenement, targeting gold and base metal deposits across a known mineral-rich belt.
The survey identified several electromagnetic conductor model plates coinciding with gold, copper and nickel surface geochemical anomalies.
The survey highlights include a significant gold target along a 2-kilometre surface geochemical anomaly.
This target is situated in a favourable regional structural flexure zone and includes a soil sample with a peak value of 256 parts per billion (ppb) of gold, supporting its potential for gold mineralisation.
Lanthanein technical director Brian Thomas said: “We are very excited to have to finalised the MLEM survey lines over the high priority gold, copper and nickel targets, particularly the gold targets located along a large regional structural flexure zone in the centre of the tenement which also happens to coincide with the Godzilla geochemical lithium anomaly.
“We are really excited that the EM conductor plate under MLEM survey line 1 coincides with the 256 ppb gold ultra-fine fraction (UFF) soil anomaly.
Significant gold production
“The Forrestania region is also well known historically for significant gold production from the old Bounty Mine producing ~1.3 million ounces gold adjacent to our Lady Grey project tenements.
“We continue to press ahead with the approvals processes of PoWs and Heritage for drilling these targets in Q4 2024.”
The Lady Grey Project is adjacent to the historical Bounty Gold Mine, which produced around 1.3 million ounces of gold.
The new targets identified by Lanthanein are emblematic of this productive region and strengthen the project's exploration potential.
Lanthanein has initiated the necessary regulatory approvals for drilling on key MLEM survey lines, with drilling programs expected to commence in the fourth quarter of 2024.
The company is also progressing with a program of works application to advance further exploration activities.