- Astro Resources (ARO) has defined a strong induced polarisation (IP) anomaly at its Needles Gold Project in Nevada
- Astro believes the IP anomaly represents disseminated sulphides that may be associated with gold mineralisation similar to a highly prospective deposit
- The company plans to test the anomaly through a diamond drilling program once it receives land access approval
- If all goes to plan, drilling will begin in the September quarter
- Astro ended the day with shares trading flat at 0.4 cents
Astro Resources (ARO) has defined a strong induced polarisation (IP) conductivity anomaly at the Needles Gold Project in Nevada.
The discovery follows the interpretation of data from a recent geophysical and seismic survey.
Astro believes the IP anomaly represents disseminated sulphides that are possibly associated with alteration and gold mineralisation similar to the volcanic-hosted Round Mountain deposit.
“The results from the DC/IP survey are extremely exciting given the strength and size of the chargeability anomaly,” Chairman Jacob Khouri said.
“The Astro Board believes the Needles Gold Project represents a prime opportunity for the discovery of significant gold deposits,” he added.
Astro plans to conduct a diamond drilling program, which will focus on the newly identified IP anomaly.
This drilling is expected to begin in the third quarter of the year, but this is subject to a drill rig being available and getting approval from the Bureau of Land Management.
Further details on the program will be released once Astro has fully interpreted the data from the seismic and DC/IP surveys.
Astro ended the day with shares trading flat at 0.4 cents.