Gippsland Limited (‘Gippsland’ or ‘the Company’) [ASX: GIP, FRA: GIX] is pleased to announce that it has received the final levelled data for the 5,161 line-kilometre airborne geophysical survey over the Adobha and Gerasi South licence areas in Northern Eritrea held by its wholly owned subsidiary Adobha Resources (Eritrea) Pty Ltd. The airborne geophysical survey covered 19 target areas selected on the basis of Thematic
Mapper (TM) anomalies, geological targets, and geochemical anomalies identified during geochemicalsurveys by Gippsland completed during late October to early November 2009, May 2010 and July 2011. The survey was flown by Geotech Airborne Limited using a Versatile Time Domain Electro Magnetic system (VTEM) at a line spacing of 200m with a nominal height of 80-120m determined by the topography. Aeromagnetic data was also acquired as part of the survey.
Interpretation of the data by the Company’s consultant geophysicist has identified 16 electro-magnetic (EM) anomalies which have been ranked on the basis of their EM response (intensity and decay rate), geological setting, proximity to TM anomalies and presence of coincident geochemical anomalies.
It is encouraging to note that in the central part of the project area there is a close association between the VTEM anomalies and regional drainage geochemical anomalies identified from the geochemical sampling completed during July 2011. The regional geochemical sampling could not be completed due to the lack of helicopter availability and will recommence when a suitable helicopter is available.
Field inspection of the EM anomalies was completed in early October in order to determine appropriate further exploration with a view to drill testing at the earliest opportunity. Access to the VTEM anomalies varies considerably with some easily accessible for drilling whereas some will require light portable drilling rigs to be flown in by helicopter
Follow-up exploration in the areas of the VTEM anomalies has commenced with programmes of geological mapping, in-fill drainage sampling, and soil and rock-chip sampling. Gravity surveys are being planned for the high to medium priority VTEM anomalie
The Company has submitted an application for an Exploration Licence to cover the area to the west of the granted Adobha and Gerasi South Exploration Licences.
http://www.gippslandltd.com/upload/docs/111222_ASX_Eritrean_Geophysical_Survey_Update.pdf
Ian Gandel Chairman
For further detail, contact info@gippslandltd.com Suite 4, 207 Stirling Highway Claremont WA 6010 Australia Phone +61 8 9340 6000
