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ScandiVanadium (ASX:SVD) - Managing Director, David Minchin
Managing Director, David Minchin
Source: NewsBeezer
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  • ScandiVanadium (SVD) has identified historical high-resolution Falcon Gravity survey data over 85 per cent of the Pascalle Gold Project
  • Pascalle is located in the heart of the Paterson Province and displays copper-gold mineralisation similar to the multi-million ounce Telfer mine
  • The company is conducting due diligence as part of the acquisition terms
  • Southern Geoscience Consultants identified new targets which will be followed up with geophysical work
  • As a result of these findings, ScandiVanadium’s confidence in the project has improved
  • Company shares are trading flat at 2.7 cents each

ScandiVanadium (SVD) has identified historical high-resolution Falcon Gravity survey data and TEMPEST Airbone Electromagnetic data.

The company is conducting a due diligence phase as part of the Pascalle Gold Project acquisition.

Falcon Airborne Gravity data

ScandiVanadium identified high-resolution airborne gravity survey data over 85 per cent of the Pascalle Gold Project.

Additionally, Southern Geoscience Consultants (SGC) undertook initial processing of raw gravity data which identified a number of targets where magnetic highs are associated with gravity anomalies.

Targets at Pascalle sit beneath 20 to 50 metres of Permian cover allowing rapid testing of geophysical targets.

As a result of the findings, the company is planning follow up geophysical work to begin once the acquisition has been completed. This work will allow 3D modelling of anomalies which will provide information on the geophysical targets to be drilled.

TEMPEST AEM data

Geoscience Australia collected airborne electromagnetic data over the Pascalle Gold Project between 2007 and 2008. The government-funded survey included a total of 28,200 line kilometres flown at various line spacings. It covered about 47,600 square kilometres for a total of $2.7 million.

The company is working with SGC to assess the conductivity-depth inversion results to estimate the depth cover along the broad spaced lines in the project.

Outlook

The survey has given ScandiVanadium further confidence that Pascalle holds some similarities to the Havieron deposit. Havieron is located within the Paterson Province of Western Australia and has yielded results including 275 metres at 4.8g/t gold and 0.6 per cent copper.

The Pascalle Gold Project is also located within Paterson. It covers more than 75 square kilometres and is prospective for Telfer, Havieron and Winu style gold-copper deposits.

“Recent discoveries including by Rio Tinto (RIO) at Winu, and Greatland Gold (GGP) at Havieron have demonstrated the importance of geophysical surveys in aiding discovery of tier-one gold-copper prospects in the region,” Managing Director David Minchin said.

Company shares are trading flat at 2.7 cents each at market close.

SVD by the numbers
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