It is noted that one area identified as high priority lies on a north-north-east shear along which the historic Crown - Kyarra group of gold mines are located 6 km to the south. Recent drilling by
Thundelarra (ASX:THX) around these historic mines has returned visible gold, suggesting high grade gold may exist there (Thundelarra announcement to the ASX 15 November, 2017). The style of mineralisation being pursued by Cervantes is similar to that seen in this drilling.
The aim of the exploration programme is to identify gold-bearing shears, in general, and to see whether there is potential for the gold mineralised shear identified in Thundelarra’s recent drilling to extend into Cervantes’ project area.
Area of E51/1721 showing Cervantes Corporation tenement (red) in relation to Thundelarra’s tenements (blue). The area of Thundelarra’s recent gold drilling intercept is indicated by the red star. The north-north-east interpreted shear hosting that mineralisation is shown as a yellow line. The background is the First Vertical Derivative of the Total Magnetic Intensity from State of WA regional aeromagnetic surveys. Data provided and extracted from Geological Survey of Western Australia databases.
Cervantes is currently progressing a capital raising to complete its acquisition of the Paynes Find project from European Lithium (ASX announcement 15 November, 2017). The exploration programme proposed for the Garden Gully project will be part funded from that financing.
Take a good look at the proximity of the two gold mining companies below.
http://www.cervantescorp.com.au/pdf...Meekatharra_-_Garden_Gully_Project_Update.pdf
