Cyclone Metals Ltd (ASX:CLE) has commenced Sub-Audio Magnetics (SAM) surveying at the Nickol River Gold Project in Western Australia to explore for additional gold bearing shears and structures, and to better define known structures associated with historical gold mining.
The Nickol River Gold Project is about 13 kilometres east of Karratha in the Pilbara region.
Cyclone has appointed Gap Geophysics Australia Pty Ltd to conduct the SAM survey, targeting areas which have produced historical gold production.
Gold mining since 1889
Cyclone Metals director Will Scott said: “The SAM survey is the first modern exploration technique to be applied to Nickol River since gold was first identified in 1889.
“The project has had coarse gold recovery/mining since 1889 to the present day, and has the potential to represent a deeper primary gold system which is evidenced by outcropping hard rock gold occurrences.
“Limited exploration, and a lack of drilling, creates significant opportunities, and I look forward to the results of SAM which has also delivered positive results for other companies in the Karratha area.
“The survey is expected to take approximately four weeks to complete with a further six weeks for interpretation by Southern Geoscience Consultants.”
Nickol River Project
The Nickol River Project comprises seven granted mining leases, five miscellaneous licences and a water licence.
The exploration asset lies within the Karratha Terrane on the north side of the Sholl Shear Zone, near the margin of the Karratha Granodiorite.
Hopeful prospectors have explored the asset’s tenements and surrounding regions for gold since 1889.
Most recently, tenement M47/1527, which is partly surrounded by tenements M47/127 and M47/401, has been drilled by a series of owners and alluvial gold mined by its present owner, fellow ASX-lister Artemis Resources Ltd (ASX:ARV, ASX:ARV).