Significant gold potential at Rahu
SIGNIFICANT GOLD POTENTIAL AT RAHU
• Survey shows gold mineralisation potential similar to Karangahake deposit
• Improves targeting for future deep drilling programme
• Important development of Heritage’s current geological model
KARANGAHAKE GOLD PROJECT – Coromandel, NZ (Heritage 100%)
The results of a new geophysical survey of the Rahu gold prospect show that wide low to moderate grade gold zones appear to narrow at depth to what may be higher grade mineralised feeder zones, hosting similar bonanza grades to those encountered during mining at the nearby Karangahake deposit. Heritage Gold managing director Peter Atkinson says it has received and interpreted the results of a Controlled-Source Audio-frequency Magneto-Tellurics (CSAMT) survey, conducted by the University of Auckland. CSAMT is a sophisticated geophysical technique used to determine the electrical resistance of the ground to about 300 metres (m) depth.
Interpretation of the CSAMT profiles shows that wide silicified breccia zones of relatively low to moderate gold grade near the surface appear to narrow to what may represent higher grade mineralised feeder zones at depths of around 300 m below the surface at Rahu (Figures 2 & 3).
“This reinforces our existing geological model for Rahu and increases the validity of targeting these geophysical anomalies with deeper drilling for the discovery of higher grades,” Atkinson says. “This is a significant step for Heritage Gold in recognising and evaluating Rahu’s potential.” The Rahu permit (EP 40-117) lies immediately to the north of the Talisman mining permit (MP 51- 326) and on the same line of strike as the gold bearing veins at Karangahake (Figure 1). Structurally, Rahu is believed to have been downthrown, relative to the neighbouring Karangahake gold deposit, supporting the potential for high grades at depth similar to the bonanza gold grades (typically >31 grams/tonne) at Karangahake.
Rahu’s two kilometre-long zone of coincident geochemical and geophysical anomalies is interpreted to have similar mineralisation potential to Karangahake.
Heritage Gold's previous angled drilling
intersected anomalous gold (Au) and silver (Ag) at shallow
depths in several