- Enegex (ENX) has identified new targets at the Miamoon project in WA’s West Yilgarn region
- The company completed a gravity survey over the western side of the project where magnetic high features had previously been found
- Enegex is particularly encouraged by the Spitfire and Crusader targets which have a strong correlation between magnetic and gravity high signatures
- The company will follow up on the new areas with the aim of generating drill targets
- ENX shares are down 6.67 per cent to trade at 8.4 cents
Enegex (ENX) has received results from a gravity gradiometer survey that was completed last year at its Miamoon project in the West Yilgarn region of Western Australia.
The survey work was completed over the western side of the project where several magnetic high features had previously been identified and were believed to represent mafic-ultramafic intrusions. The survey aimed to provide information on the structural and lithological framework and map targeted intrusive bodies.
Positively for the company, the survey data has generated multiple geochemical anomalies which Enegex plans to follow up on immediately.
Enegex was particularly encouraged by the Spitfire and Crusader targets which are both discrete targets with a strong correlation between magnetic and gravity high signatures.
The Spitfire target extends for over 1.3 kilometres to the northwest. 3D inversion modelling identified two discrete blocks; one a shallow, moderately magnetic and high-density source that sits above a second deeper, strongly magnetic and highly dense source.
Similarly, Crusader is defined by coincident gravity and magnetic highs that correlate to an area with anomalous geochemistry in historical drilling data. RAB drilling in 2008 intercepted copper values of up to 506 parts per million which the company finds encouraging despite drilling not testing gravity and magnetic target zones.
“The initial results from the Falcon Gravity survey at Miamoon are highly encouraging with multiple features evident in the data. Continuing interpretation and modelling of the full dataset is expected to provide additional targets areas,” Executive Director Rae Clark said.
The company expects to conduct field-checking at Spitfire, Crusader and the other identified areas with the aim of defining drill targets.
ENX shares were down 6.67 per cent to trade at 8.4 cents at 2:11 pm AEDT.