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Market:ASX FRA
Sector:General Mining
EPIC:GIP
Latest Price: 0.01  (-13.33% Descending)
52-week High:0.03
52-week Low:0.01
Market Cap:12.68M
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Gippsland Limited

Gippsland focuses on world-scale projects which have been over-looked by major resource groups. Projects which have undergone detailed exploration and which have the potential to be brought into production quickly are a prime target for the Company. Gippsland's success in this area is due in part to the Company's philosophy of entering into equitable joint venture arrangements with overseas nationals. The Company's prime assets are the 40 million tonne Abu Dabbab and the 98 million tonne Nuweibi tantalum-tin projects located in the Central Eastern Desert of Egypt, adjacent to the western shore of the Red Sea.

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Gippsland identifies anomalous copper, lead and zinc in Northern Eritrea

Monday, October 03, 2011 by John Phillips
Gippsland identifies anomalous copper, lead and zinc in Northern Eritrea

Gippsland (ASX: GIP, FRA: GIP) covered 19 target areas selected on the basis of Thematic Mapper anomalies, geological targets, and geochemical anomalies in an airborne geophysical survey in Northern Eritrea.

The survey covered over 5100 line-kilometres over the Adobha and Gerasi South licence areas, where anomalies were identified during geochemical surveys by Gippsland over the past couple of years.

Flown by Geotech Airborne Limited the survey used a Versatile Time Domain Electro Magnetic system (VTEM) at a line spacing of 200 metres with a nominal height of 80 metres to 120 metres, determined by the topography. Aeromagnetic data was also acquired as part of the survey.

Ian Gandel, chairman, commented, "The geophysical survey has identified some very high priority targets located in the right geological setting.

"The presence of anomalous copper, lead and zinc in drainage samples from the target areas gives us further encouragement for the discovery of mineralisation in this newly emerging VMS region."

Gippsland said that interpretation of the preliminary data has identified 16 electromagnetic (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.

Details of each of the anomalies will be provided after the final data has been received from the contractor.

A work program has been scheduled for early October to conduct a field examination of all of the EM anomalies in order to determine appropriate further exploration with a view to drill testing at the earliest opportunity.

 

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