Crater Gold Mining (ASX:CGN) to undertake HEM survey at Queensland tenements -Agbelo News

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  • Crater Gold Mining (CGN) is set to undertake a helicopter-borne electromagnetic (HEM) survey over its Queensland-based tenements in Croydon
  • Contractor New Generation Geophysics Xcite will conduct the planned survey using its Airborne Electromagnetic system
  • Crater says the survey will begin in early- to mid-June and it expects the work to be completed over seven to 10 days with the interpretation of results anticipated by August
  • The company will target graphite mineralisation, gold-bearing quartz reef mineralisation and polymetallic mineralisation through the survey.
  • Shares in Crater Gold have been in voluntary suspension since July 2021, last trading at 1.7 cents

Crater Gold Mining (CGN) is set to undertake a helicopter-borne electromagnetic (HEM) survey over its Queensland-based tenements in Croydon.

The company will target graphite mineralisation, gold-bearing quartz reef mineralisation and polymetallic mineralisation through the survey.

Crater said the work was scheduled to begin in early- to mid-June, with the survey expected to be completed over seven to 10 days and the interpretation of results anticipated by August.

The company holds five exploration permits for mining (EPM) in the Croydon region for a total area of 227.2 square kilometres.

The EPMs cover five priority aeromagnetic anomalies and three residual gravity anomalies.

Contractor New Generation Geophysics Xcite will conduct the planned survey using its Airborne Electromagnetic system.

According to Crater, HEM surveying was believed to be the optimal method for evaluating the potential of Croydon as the technique had been successful both in Australia and worldwide.

The company said there was currently a strong interest in the Croydon area, with recorded gold production from the region totalling almost one million ounces.

Shares in Crater Gold have been in voluntary suspension since July 2021, last trading at 1.7 cents.

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