The significants of IGO having completed in ground Moving Loop Electromagnetic Survey's (MLEM)
over geochemical anomalies, that identified seven conductor targets-Four of which are part
of the current underway 14 hole R.C.-Drilling campaign & its potential of discovery seems to
have largely been overlooked by the market.-See highlighted below from IGO release yesterday.
Electromagnetics | Resource Potentials
IGO-Quarterly Activities Report ASX-26 October 2016
Lake Mackay Gold/Base Metals Project (IGO Manager and Option to earn 70%) Infill soil
sampling and minor rock chip sampling has been completed over six regional prospects.
Two prospects were upgraded, one remains unchanged and three were downgraded.
MLEM surveying was completed over various soil geochemical anomalies, with
seven conductors identified, four of which will be drill tested in the
December 2016 quarter.
The Lake Mackay co-funded aeromagnetic survey has progressed well during the Quarter
with45,718 line-km completed which represents 88% of the 51,984 line-km planned.
The data is currently being processed.
(Quoted IGO report ends)
ABU -ASX Release 11 October 2016
Lake Mackay J.V.
IGO are planning to commence a fourteen hole RC drilling program within the Lake Mackay
JV area mid-October 2016.
This program is scheduled to be completed during November 2016.
IGO is earning a 70% interest in ABM’s Lake Mackay tenements by sole funding $6 million of
exploration expenditure.
Results confirm the Lake Mackay Project is a belt scale exploration target with potential
to host multiple styles of mineralisation
In the next phase of work, IGO are planning to carry out further soil sampling and ground EM
surveys within EL24915.
A Northern Territory Geological Survey co-funded aeromagnetic survey will also be conducted over EL24915 and the adjoining tenement applications.
The 7 targets identified are all on ABU's tenement EL24915 seen below, this is the same tenement that bumblebee is on much upside potential exists with targets now identified should
they be proven with drilling intercepts, given its IGO, considering there budget & expertise.
There is no need to give example of what it would do to ABU's share price should a significant discovery be made, we have already witnessed the B.B lead up- although it did not eventuate in a large commercial discovery it was only the 1st cab off the rank & we now realise IGO
have confirmed as of yesterday that 7 additional targets have been identified.
"IN EARLY 2015, ABM AQUIRED A FURTHER 4,900 KMS OF EXPLORATION LICENSE APPLICATIONS". that cover over 140km of strike length of a pronounced geophysical
gravity ridge along the margin of the Aileron and Warumpi provinces.
These exploration license applications now also form part of the Lake Mackay alliance
agreement with IGO.-seen below in black, the red border is position of the tenement the
7 targets have been identified & current drilling exploration of 4 targets IGO mention is on )
We can assume why these tenement applications were made, because if a commercial discovery is
made it is potentially the first in a whole new mineral district.
imo-dyor
gltah-salt
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- J.V.-IGO/ABU- R.C.-DRILLING OF 4 TARGETS.
The significants of IGO having completed in ground Moving Loop...
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