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Accelerate Resources Ltd (ASX:AX8) has used data from a recently interpreted gravity survey to define a valuable new gold target at its Little Lake prospect in the Goldfields region of Western Australia.
Processing and interpretation of the survey data – which was completed by Southern Geoscience – revealed the presence of northeast trending shear zones at the prospect, with these connecting the Reidy and Mt Monger faults.
Crucially, there was found to be a correlation between key basement gold intercepts found at Little Lake and the intersection of a NE trending shear together with 2 NW-trending faults, providing encouraging hints of what could be found at these drill targets.
Accelerate CEO Luke Meter said the gravity surveying work had contributed greatly to the company’s plans for the prospect, which is part of the broader Kanowna East project.
“The processing of gravity data by Southern Geoscience consultants has been a highly valuable investment for the company, enabling Accelerate to refine its geological model to a level previously unattainable for past explorers,” he said.
“The identification of NE-trending shear zones between the Reidy and Mt Monger faults is particularly exciting, as historic basement gold mineralisation at the Little Lake prospect shows a strong correlation with these structures – reinforcing their importance in our upcoming drill program.”
The company is now preparing for a drill program at Kanowna East, having gained approval for its program from the Department of Energy, Mines, Industry Regulation and Safety.
Accelerate has been trading at 0.8 cents.
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