- Data interpretation and 3D gravity modelling at the Moonborough intrusion are now complete at Athena Resources’ (AHN) Byro Base Metals Project in Western Australia
- Results suggest the near surface gravity anomaly at the intrusion extends to depth and unlikely related to surface regolith conditions as previously interpreted
- An untested central region of the intrusion coincident with the gravity anomaly is also coincident with a versatile time domain electromagnetic (VTEM) anomaly.
- Assay results from completed drilling are delayed and expected at the end of February and planned drilling will test this area once heritage survey and Native Title clearance is complete
- Shares rose 9.09 per cent to 1.2 cents
Data interpretation and development of a 3D inversion model at the Moonborough intrusion are now complete at Athena Resources’ (AHN) Byro Base Metals Project.
The project is located in the Western Gneiss Terrane about 300 kilometres north-east of Geraldton, Western Australia and where the company is exploring for copper, nickel, platinum-group elements (PGEs) and iron ore.
Exploration to date at the Moonborough intrusion is at an early stage and has identified a compelling data set of prospective lithologies within a layered mafic/ultramafic sequence.
Recent results suggest the near surface gravity anomaly at the Moonborough intrusion extends to depth and unlikely related to surface regolith conditions as previously interpreted.
The gravity anomaly occurs within the interpreted extent of the Moonborough intrusion where prospective rock types with elevated base metals and path finder elements have been identified.
Analysis of the gravity data clearly confirms a discrete large body of relatively high-density rock mass compared to the surrounding gneissic terrain, which is consistent with a layered intrusive complex.
The gravity survey has highlighted three areas of anomalism within the enveloping high-density zone.
Assay results from completed drilling are delayed due to interstate COVID-19 staffing issues and are currently expected at the end of February.
An untested central region of the Moonborough intrusion coincident with the gravity anomaly is also coincident with a versatile time domain electromagnetic (VTEM) anomaly.
A VTEM conductor was identified within the untested central region coincident with the now refined gravity anomaly.
The surface expressions of the VTEM anomaly were initially interpreted to be within the regolith.
The 3D inversion of the gravity data highlights the potential for the relatively shallow depth of the VTEM anomaly to be associated with the layered intrusion bedrock.
Planned drilling will test this area once heritage survey and Native Title clearance is complete.
Shares in Athena were up 9.09 per cent to 1.2 cents.