Resource & Investment (ASX: RNI) will commence a ground electromagnetic survey at its flagship Doolgunna Project, located just 3km from the Sandfire Resources (ASX: SFR) massive DeGrussa copper-gold discovery of; 10.67mt at 5.6% copper, 1.8gpt gold and 15gpt silver, in four deposits.
A total of 15 high priority targets have already been identified at Doolgunna, from a detailed geological mapping program, an airborne electromagnetic survey and close-spaced geochemistry.
Miles Kennedy, chairman, said the electromagnetic results are expected by the end of 2010, which will be used to determine priority reverse circulation and diamond drilling targets, with the aim of identifying VMS (volcanogenic massive sulphide) and gold deposits.
In other Resource & Investment news, the company has recently completed a 4,000 line km aeromagnetic and radiometric survey over the Three Rivers Project, about 35km north of DeGrussa, which has produced a number magnetic targets.
A loam sampling program would follow to further assess the magnetic targets at Three Rivers, where work continues on a detailed geological mapping program.