Join our daily newsletter At The Bell to receive exclusive market insights
- Odin Metals (ODM) identifies 58 new targets at its Koonenberry Project in New South Wales
- The company recently completed an airborne survey to test known mineralised trends
- Of the 58 targets, six are considered high-priority and will be followed up with ground reconnaissance work
- Next month, Odin Metals expects to receive final survey data and will commence a drilling program in August
- Company shares were down 9.3 per cent to trade at 3.9 cents
Odin Metals (ODM) has received encouraging results from an airborne electromagnetic (EM) survey at its Koonenberry Project in New South Wales.
The recently completed EM survey is the largest of its type to be conducted over the Koonenberry belt. It focused on known mineralisation trends such as the Grasmere deposit and its 21 kilometres of prospective strike.
Significantly, interpretation of preliminary data has identified 58 new targets, including six high-priority EM targets within the Grasmere, Cymbic Vale and Wertago trends.
The company identified anomalism near the Grasmere deposit which highlights potential association with increased sulphide mineralisation.
At Cymbic Vale, targets have been identified over seven kilometres of strike and incorporates copper mineralisation that extends over 1.2 kilometres.
The Wertago trend is a historical trend which is highly prospective for volcanic massive sulphides along strike from the Wertago and associated mines. A further untested anomalous trend, referred to as the “Western” trend has been identified. It extends for over 10 kilometres and includes two targets.
Odin Metals is about to begin ground reconnaissance work to follow-up on the high-priority targets. Final data from the survey is expected next month and will be followed by a drilling program.
Company shares were down 9.3 per cent to trade at 3.9 cents at 12:04 pm AEST.
