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IRIS Metals (ASX:IR1) - Non Executive Chairman, Simon Lill
Non Executive Chairman, Simon Lill
Source: De Grey Mining
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  • IRIS Metals (IR1) completes a high-resolution aeromagnetic survey interpretation and analysis over its Leonora Gold Project in Western Australia
  • The company engaged Magspec Airborne Surveys to undertake a detailed aeromagnetic survey to confirm and identify structural target zones capable of hosting gold
  • Interpretation of this data identified seven high-priority structural geological gold targets and an exploration program will be developed to test these targets
  • Once received, the data will be important in planning a broader regional exploration program
  • IRIS Metals remains steady today at $0.63 per share as of 2:42 pm AEDT

IRIS Metals (IR1) has completed a high-resolution aeromagnetic survey interpretation and analysis over its Leonora Gold Project.

The project lies roughly 240 kilometres north of Kalgoorlie and 60 kilometres northeast of Leonora in Western Australia.

Despite its close location to significant gold occurrences and workings, it is a relatively underexplored asset.

IRIS engaged Magspec Airborne Surveys to undertake a detailed aeromagnetic survey to confirm and identify structural target zones capable of hosting gold mineralisation.

Interpretation of this data identified seven high-priority structural geological gold targets and these findings highlight IRIS’s belief that modern geophysical techniques have the ability to identify new structural targets.

IRIS will now develop an exploration program to systematically test the targets and the data will be important in planning a broader regional exploration program.

“The interpretation of the aeromagnetic survey data at the Leonora gold project confirms the project’s prospectivity,” Executive Director Tal Paneth said.

“We have generated seven high priority targets for further investigation and drill testing and we look forward to systematically assessing these new structural features during future drill programs.”

IRIS Metals remains steady today at $0.63 per share as of 2:42 pm AEDT.

IR1 by the numbers
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