Vangold finds copper, gold targets

VANGOLD Resources has identified five potential copper targets at its Mt Penck permit (EL 1322) on New Britain Island and new targets at the Igwageta prospect in EL 1324, Milne Bay Province.

The targets were identified by three dimensional induced polarisation geophysical surveys, with the data at Mt Penck interpreted to related sulfides including pyrite, chalcopyrite and arsenopyrite.

Meanwhile, the survey at Igwageta defined nine targets that are either associated with gold mineralisation, or are potentially related to additional gold bearing quartz reefs.

The Igwageta gold vein assemblage occurs as an elongated 430-metre-long zone of slightly anomalous resistivity trending west-northwest.

The eastern section of this vein assemblage is interpreted to be faulted to the north and re-occur as an anomaly (IG7).

Within the gold anomalous areas of Igwageta at IG 1, 3, 4, 5 and 6, higher chargeability values occur over an area of 400m by 250m and extend to more than 200m in depth.

These zones of higher chargeability potentially reflect gold mineralisation associated with arsenopyrite sulfides.

Vangold added it expects to receive in the next 10 days comprehensive reports from SJ Geophysics with processed results on the geophysical surveys conducted on Mt Penck, Fergusson and Allemata.


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