GTA Resources and Mining Inc. (TSX: V.GTA, Stock Forum) announces the continuation of its graphite exploration program on the Auden property, located northwest of Hearst, Ontario.
A drill program, which commenced in mid December, was temporarily postponed to allow for the Christmas break and for more effective frost conditions allowing better access to other target areas. Prior to the Christmas break, one hole totaling 70 metres was completed targeting a weak electro-magnetic (EM) anomaly located in the west central portion of the property and easily accessible from existing roads. The hole intersected a clay filled fault zone near the interpreted conductor axis, however, no graphite was encountered.
According to the GTA Resources and Mining press release, ground geophysics is continuing and has resulted in the delineation of three additional isolated EM conductors in the central "Hockey Puck" target area.
The anomalies can be described as isolated, moderately strong bedrock conductors, and all are located within or proximal to the southern extension of the alkaline intrusive complex that hosts Zenyatta Ventures Inc.'s (TSX: V.ZEN, Stock Forum) Albany graphite deposits. All three anomalies appear to be non-magnetic, are accessible by winter trail and will be the initial focus once drilling resumes later this month.
GTA is continuing its ground geophysical program of locating and evaluating the EM conductors identified from the airborne surveys and anticipates drill testing the priority targets as weather allows.
GTA is the largest land holder in the emerging graphite "camp" and holds the mineral rights to over 69,000 acres.
GTA is a well funded publicly traded mineral exploration company.
On Wednesday, GTA rose 6.5% to $0.165 a share. The company had a market cap of $4.4 million, based on 26.7 million shares outstanding.
A drill program, which commenced in mid December, was temporarily postponed to allow for the Christmas break and for more effective frost conditions allowing better access to other target areas. Prior to the Christmas break, one hole totaling 70 metres was completed targeting a weak electro-magnetic (EM) anomaly located in the west central portion of the property and easily accessible from existing roads. The hole intersected a clay filled fault zone near the interpreted conductor axis, however, no graphite was encountered.
According to the GTA Resources and Mining press release, ground geophysics is continuing and has resulted in the delineation of three additional isolated EM conductors in the central "Hockey Puck" target area.
The anomalies can be described as isolated, moderately strong bedrock conductors, and all are located within or proximal to the southern extension of the alkaline intrusive complex that hosts Zenyatta Ventures Inc.'s (TSX: V.ZEN, Stock Forum) Albany graphite deposits. All three anomalies appear to be non-magnetic, are accessible by winter trail and will be the initial focus once drilling resumes later this month.
GTA is continuing its ground geophysical program of locating and evaluating the EM conductors identified from the airborne surveys and anticipates drill testing the priority targets as weather allows.
GTA is the largest land holder in the emerging graphite "camp" and holds the mineral rights to over 69,000 acres.
GTA is a well funded publicly traded mineral exploration company.
On Wednesday, GTA rose 6.5% to $0.165 a share. The company had a market cap of $4.4 million, based on 26.7 million shares outstanding.
没有评论:
发表评论