Preliminary imaging has revealed several NW-SE trending structures, including a prominent structure on which Target 1 is situated.
Alliance managing director Steve Johnston said: “The results of the close-spaced gravity survey have exceeded our expectations.
“Combined with the existing detailed magnetic data, it will be a powerful targeting tool to help unlock the further potential of the high-grade Weednanna gold system.”
The prospect forms part of the Wilcherry Project Joint Venture of which Tyranna holds 28.91% and Alliance the remainder.
Wilcherry is in the southern part of the Gawler Craton in the northern Eyre Peninsula and comprises seven exploration licences covering 1,400 square kilometres.
It is prospective for gold and base metals.
There were 2,548 stations surveyed, comprising 1,915 stations using a 25-metre grid over the central Weednanna area and 633 stations using a 50-metre grid elsewhere.
Target 1 most prominent
Target 1 gold shoot is along the most prominent of the structures, which continues to the south of Target 4.
This structure has a strike length of at least 1,000 metres and apart from Target 1, is poorly drill tested over the majority of its length.
Gravity data will assist with mapping the sub-surface geology, particularly the target corridors of calc-silicate and magnetite skarn that host high-grade gold shoots.
This data will complement the existing geophysical datasets at Weednanna and will be utilised for constrained 3D inversion modelling to assist with targeting new gold lodes.
Planned work program
The joint venture plans to estimate a maiden mineral resource estimate before June 30, 2018.
Other planned work includes a staged program of metallurgical work with the aim of optimising gold recovery.
This will culminate in process design criteria and capital and operating costs for the processing base case.
If positive, the outcomes of both work streams will feed into a scoping study in the second half of this year.