E79 Gold Mines (ASX:E79) has completed an airborne gravity and magnetic survey over its Mountain Home Copper-Gold-Bismuth Project in the Northern Territory.
Preliminary interpretation has identified several previously unrecognised magnetic-low zones across the project area. The mineralised Mountain Home gossan sits within a defined magnetic-low corridor, while similar features elsewhere represent targets for follow-up exploration.
The survey comprised approximately 1,594 line kilometres flown at 400m spacing and an altitude of 80m.
CEO Ned Summerhayes says the survey has delineated several ‘large-scale’ structural features across the project.
“Of particular significance are several previously unrecognised structures surrounding the mineralised Mountain Home Gossan, highlighted clearly in the magnetic dataset,” Summerhayes says.
“The survey has also identified a number of analogous structural settings elsewhere within the project area, each of which warrants further investigation.”
E79 controls 1,366km² within the McArthur Basin, where previous rock-chip sampling at the Mountain Home gossan returned up to 45.5% copper (Cu), 11.75 grams per tonne gold (Au), and 9.09% bismuth (Bi).
The company says the surrounding magnetic-low features may indicate hydrothermal destruction of magnetite and could represent controls on the copper–gold-bismuth mineralisation observed at surface.
A similar magnetic low about 20km east of the gossan is associated with copper mineralisation, with historical rock-chip sampling returning up to 1.17% Cu.
Gravity data indicates mineralisation occurs on the flanks of gravity highs within magnetic-low zones. Comparable settings elsewhere remain largely unexplored.
The survey was co-funded through the Northern Territory Government’s Geophysics and Drilling Collaborations program, which reimbursed 50% of acquisition costs up to $150,000, including GST.
At E79’s Cue Gold Project in Western Australia, a heritage agreement is awaiting signatures ahead of heritage clearances and an initial 10,000m drilling campaign.
Full interpretation of the Mountain Home datasets remains underway.
Write to France Pinzon at Mining.com.au
Images: E79 Gold Mines
