Resource and Investment NL (ASX: RNI) will shortly commence field exploration programs at its recently acquired Doolgunna Project, located in Western Australia’s Bryah Basin.
RNI concluded an option to acquire a 100% interest in the Doolgunna tenement E52/2438 on 30 April 2010, securing a strategic position in this emerging mineral field. The tenement lies immediately adjacent to the DeGrussa and Springfield Copper-Gold Projects.
UTS Geophysics will fly a detailed aeromagnetic survey over the Doolgunna tenement with the program scheduled to commence later in June. Detailed geological mapping and surface sampling will also commence over the tenement during July 2010.
Miles Kennedy, chairman, said while the main focus of RNI’s initial program will be to complete a regional-scale evaluation of the entire Doolgunna Project area for potential VMS copper-gold and gold mineralisation, more detailed exploration will also be conducted at the outset on the "very encouraging" Salmon Prospect.
The company believes that the Salmon Prospect has considerable potential as previous soil sampling and drilling has outlined a zone of noteworthy gold mineralisation.
Scout RAB and follow-up RC drilling over surface geochemical anomalies identified significant gold and associated copper mineralisation over a 200 metre strike length at the Salmon Prospect with grades of up to 8.2g/t Au were reported.