THE BOURSE WHISPERER: Terranova Minerals has kicked off field based exploration at its Peninsula gold project, located in Norseman, Western Australia.
The company said the initial focus for the campaign is to help it gain an understanding of the controls and extent of the gold mineralisation at Peninsula.
The company will be utilising Mobile Metal Ion (MMI) Geochemistry, which it described to be a robust, highly sensitive geochemical exploration method.
Mobile Metal Ions are adsorbed onto the surface of screened soil particles and then dissolved using patented chemical leaches and analysed at parts per billion levels.
Terranova said it hopes to identify areas that are geochemically anomalous in the target commodities, being gold, and base metals.
The company expects the sampling activities to highlight a number of priority targets and geochemical trends which it will explore further through such means as geological mapping, prior to any geophysical or drilling assessment.
It will also be conducting a rock chip sampling and geological mapping program at and around the historical Peninsula gold project workings.
“The aim of rock chipping is to further define the grade distribution across the workings and potentially identify extensions to known mineralised areas,” Terranova Minerals said in its announcement to the ASX.
“Rock chip sampling and mapping will assist with interpreting results in the returned MMI geochemistry.”
The MMI survey will involve the collection of 32 soil samples on a 50 metre by 50 metre grid spacing.
The samples will then be submitted to SGS Laboratories in Perth, where they will be analysed for a multiple commodity exploration package comprising 45 elements.
“Gold mineralisation at Peninsula is associated with north-south trending quartz veins which dip at angles of 60 degrees to 80 degrees to the east,” Terranova said.
Terranova said that the quartz reef at Peninsula extends for the length of the tenement and has been subjected to historic work in the late 1800’s and intermittently throughout the 1900’s.
Along the strike within the project area a total of five shafts have been sunk and a small scale open cut and underground mining activities have been undertaken at the project.
The company said that a trial open pit mining operation yielding a total of 424 tonnes of ore that was treated at a grade of 2.14 grams per tonne gold.
A decline was developed by Central Norseman Gold Corporation Limited (CNGC) at the southern end of the project, from which a total of 495 tonnes averaging 1.62 grams per tonne was mined.