Geo Exploration identifies new priority targets at Gorge project

(Sharecast News) - Geo Exploration said on Wednesday that initial airborne geophysical survey results from its Gorge project in Western Australia had identified new priority targets and improved its understanding of the project's geological structure and mineralisation controls. The AIM-traded explorer said a new high-priority magnetic anomaly, MAG001, had been identified in the northwest of the licence area, with modelling indicating a depth to top of about 300 metres and significant vertical extent.

It said the anomaly was coincident with a LiDAR-defined topographic feature and surface iron-oxide staining, while two uranium radiometric anomalies, RAD001 and RAD002, had also been identified near the known gold trend.

Chief executive Omar Ahmad said the survey programme had been completed safely and ahead of schedule, and was helping Geo move "from historical prospectivity towards systematic target generation".

The company said the data would be combined with soil geochemistry and geological mapping to refine priority targets for a proposed maiden drilling programme, subject to heritage and government permitting.

At 1159 BST, shares in Geo Exploration were down 4.17% at 0.12p.

Reporting by Josh White for Sharecast.com.

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