Magnum Mining and Exploration (ASX:MGU) has completed an aeromagnetic and radiometric survey at the Parker Gold and La Cienega projects in Arizona, US.
Survey data is expected to be processed and completed within four weeks, with the interpretation of geophysical data to begin after. Geophysical data will be integrated with geological mapping ahead of a surface soil sampling campaign.
The campaign will comprise systematic soil sampling and targeted rock chip sampling to refine and prioritise targets in previously identified ‘high-grade’ zones.
Using a helicopter platform, surveys were conducted at line spacing of 40m and a nominal altitude of 20m to meet ultra-high resolution specifications.
The Parker Gold and La Cienega projects are prospective for Mississippi Valley type mineralisation with possible association to an iron oxide gold-copper system.
Parker has returned surface rock samples of up to 83.87 grams per tonne gold, 359g/t silver, 8.37% copper, and 16.1% lead in previous campaigns, with samples including visible gold.
Magnum Mining and Exploration is an Australia-based company, engaged in iron ore concentrate and green pig iron production.
Write to Maddison Elliott at Mining.com.au
Images: Magnum Mining and Exploration
