More gold anomalism identified at Plumridge

Mineral Sands Limited has discovered a second prominent zone of significant....

  Mineral Sands Limited has discovered a second prominent zone of significant soil geochemical gold anomalism on the Plumridge Project.Plumridge is situated on the Albany Fraser Province and the reworked transitional margin of the Yilgarn Block, which hosts the 4 Moz Tropicana gold deposit, as well as several other gold projects. It has become increasingly apparent that the “transitional zone” is gold endowed and may be highly prospective for additional discoveries. Calcrete gold anomalism is associated with local aeromagnetic trends suggesting that it reflects basement geology and, on magnetic evidence, is adjacent to the Salt Creek Mafic Intrusive similar to Dominion Ltd’s Redback Gold project to the southwest. Minsands has now identified two broad zones of significant anomalism for immediate follow-up infill sampling. In addition, the company said there are numerous single point anomalies at this sample density that will require follow-up as they might also have significance as vectors to mineralisation. The company’s planned 250m by 200m density infill sampling program, intended for the Southern Anomaly, will now be expanded to include the Northern Anomaly area. A further 57 anomalies require second-stage infill sampling. These work plans will be preliminary to, and will also run concurrently with, reconnaissance drilling targeting the basement sources of the gold anomalism. As a consequence of this expanded work program, Minsands’ expenditure on the Plumridge tenement is expected to be close to $1m in 2008, representing some 40% of the company’s planned exploration expenditure.