Scimitar chasing Beverley clones
Friday, 23 March 2007
JUNIOR explorer Scimitar Resources believes it has identified targets similar to and on the doorstep of the Beverley and Beverley Four Mile deposits of South Australia in a recent airborne electromagnetic survey at its West Lake Frome project.
The Beverley Uranium Mine
Scimitar said the survey had identified the same formation that hosts the neighbouring Beverley deposit – currently being mined by Heathgate Resources – and the Beverley Four Mile deposit being evaluated by Alliance Resources.
"As a company, naturally we are excited by the results as it really opens up the prospectivity and potential of the project area," Scimitar managing director Terry Topping said.
While the project has received very little historical drilling, drilling records of one old oil exploration hole reviewed by Scimitar identified sediments of the Namba and Eyre formations, the same formations that host both the above deposits and the Goulds Dam and Honeymoon deposits.
Topping said the data from the EM survey would be used to create a 3D model of the structures in West Lake Frome for drilling at a later date.
Scimitar shares remained flat at 68c yesterday, but had added 4c in morning trade today.
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SIM
scimitar resources limited
