The agreement covers several granted exploration licences which are located immediately adjacent to the Company’s existing Newfield Project.
The farm-in agreement tenements, which are collectively referred to as the Newfield Extended Project, comprise three granted exploration licences (E77/1394, E77/1674 and E77/1825) covering approximately 60 square kilometres immediately the north and west of the Newfield Mining Centre (Figure 2).
Figure 1. Location of Newfield Project
Figure 2. Preliminary Total Magnetic Intensity (TMI) of Newfield Project Area
A historical broad spaced auger soil geochemistry program completed over the Newfield Extended Project by the tenement operators in 2011 – 2012 together with a detailed aeromagnetic survey had outlined three high priority gold targets within the project area.
During the reporting period Newfield Resources completed an infill and extensional auger soil sampling program.
A total of 474 auger soil samples were taken on a nominal 100m by 100m, and locally 50m by 50m, spacing over the defined target areas.
The auger sampling program has confirmed and extended several gold anomalies in the western and north eastern target areas.
In the western target area several distinct, greater than 10ppb, gold in auger soil anomalies have been outlined (Figure 3).
These low order gold anomalies are considered significant as the majority of the western target area is covered by recent transported sands, which masks the surface geochemical response from any potential gold mineralisation at depth.
The western gold anomalies are also largely coincident with an area of anomalous nickel geochemistry (greater than 100ppm nickel) in the auger soil sampling (Figure 4). The anomalous nickel geochemistry supports the Company’s recent interpretation that the granite – greenstone boundary may be located further west than had been inferred by previous explorers.
The auger sampling program also outlined several discrete, greater than 10 ppb, gold anomalies in the north eastern target area. The maximum gold result returned from the north eastern target area was 47 ppb gold.
These new geochemical anomalies on the Newfield Extended Project will be prioritised along with the remaining target areas on the Newfield Project to provide targets for future drill testing.
Figure 3. Auger soil sampling program – gold results over total magnetic intensity image
Figure 4. Auger soil sampling program – gold results over total magnetic intensity image