Livewire Exploration Watch
Enterprise Metals has reported a particularly strong anomaly following a detailed moving loop electromagnetic program at its Vulcan prospect 15km southwest of the Sandfire Resources/Talisman Mining Monty base metal discovery. A steeply dipping plate was identified from a depth of 135 metres with the primary geophysical tool used at the Monty prospect providing further evidence of the base metal prospectivity of the area. The 3D Oil Sea Lion-1 well in Bass Strait foreshadowed here (VIEW LINK) two weeks ago as “hit or miss” missed. The target had featured prominently in the company’s list of development sites since listing in 2007. It had been initially slated for drilling in 2008 but the cash strapped company is unlikely to try again. Renaissance Minerals is undertaking an induced polarisation geophysical survey to the immediate northeast of its Okvau gold prospect in Cambodia where a strong geophysical anomaly has been identified within 200 metres of planned pit boundaries. A strong magnetic feature is potentially related to a buried intrusive body. A larger resource would extend the mine life and improve development prospects.
John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...
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