E79 Gold Mines takes off at Mountain Home with large-scale airborne gravity survey

• Airborne gravity survey underway at the Mountain Home copper-gold-bismuth project.
• Survey co-funded under NT government’s geophysics and drilling program.
• The acquisition, analysis of survey data is expected to take approximately four weeks.
• Heritage discussions underway at Cue gold project.

E79 Gold Mines (ASX:E79) has commenced a large-scale airborne gravity survey at its Mountain Home copper-gold-bismuth project in Australia’s Northern Territory. The high-resolution gravity survey is being flown to detect structures, intrusions and concealed targets beneath cover.

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This particular gravity program is co-funded under the Northern Territory Government’s Geophysics & Drilling Collaborations (GDC) program for the Mountain Home copper-gold-bismuth project.

Under this program, 50% of the data acquisition costs – up to $150,000 (inclusive of GST) – are available as a rebate to E79 Gold.

E79’s CEO, Ned Summerhayes, said the acquisition of the gravity data and subsequent processing and analysis is expected to take approximately four weeks.

“When integrated with existing magnetics survey data, the new dataset is expected to significantly enhance the interpretation of major structural trends, aid geologic interpretations and assist in prioritising targets for follow-up exploration,” Mr Summerhayes told shareholders today.

“The survey covers areas which have already delivered high-grade gold, copper, and bismuth rock-chip assays, providing a strong geological foundation to help define the next phase of work.”

Elsewhere at the Cue gold project in Western Australia, work is progressing well ahead of planned initial drilling programs. Heritage agreements are nearing completion ahead of heritage surveys and drilling.

E79 is steady at 2.9c. Mkt cap $10.25M.

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