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POLYMETALS RESOURCES LTD — Regulatory Filings 2022
Apr 26, 2022
65598_rns_2022-04-26_1ecff5ae-8bb4-4970-9fba-e261a2110276.pdf
Regulatory Filings
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ASX Announcement
27 April 2022
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Airborne Magnetic Survey Commenced at Alahiné Gold Project
Polymetals Resources Ltd ( ASX: POL , “ Polymetals ” or the “ Company ”) is pleased to advise it has commenced an aeromagnetic survey at its wholly owned Alahiné Gold Project (“ Alahiné ”) in Guinea, West Africa.
The aeromagnetic survey will cover POL’s two gold projects in Guinea – Alahiné and Mansala (Figure 2). The Alahiné survey is anticipated to be completed in approximately two weeks, and then progress to the Mansala licence. The survey will be completed at a 100m line spacing targeting an average height of 30m across the total licence areas of Alahiné and Mansala. It is expected that the survey will provide detailed data to determine the structural controls on mineralisation and information on the nature and disposition of host rocks currently obscured by lateritic cover. Additional drill targets will also likely be identified.
The airborne magnetic survey will be conducted by AeroPhysX, which the Company believes to be a world leader in UAV exploration systems, having extensive experience operating throughout Africa and internationally.
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Figure 1: The AeroPhysX UAV airborne magnetic survey system.
Page 1 of 3 Polymetals Resources Ltd |ACN 644 736 247 Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000 www.polymetals.com | [email protected]
Polymetals Resources CEO, Alex Hanly said,
“We are pleased that the aeromagnetic survey has commenced at our projects and are confident it will both provide new targets and unlock the structural controls at both Alahiné and Mansala.
“We are fortunate to have enlisted the team at AeroPhysX. The UAV airborne magnetic survey system developed by AeroPhysX with its high sampling rate magnetometer, 30m bird height and low survey speed produces very detailed data. Productivity is maintained by operating at night which is only safely achievable using a drone.”
NEXT STEPS
Following interpretation of the results, the survey will be used to identify future drilling targets and further assist in design of ongoing exploration campaigns over the entire Alahiné and Mansala project areas during 2022.
The Company expects to publish results from the airborne magnetic survey within the second quarter of 2022.
COMPETENT PERSON STATEMENT
The information in this ASX Announcement that relates to Exploration Results is based on information compiled by Dr Christopher Johnston, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr Johnston is a Director of Polymetals Resources Ltd and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Johnston consents to the inclusion in this ASX Announcement of the matters based on his information in the form and context in which it appears.
This announcement was authorised for release by the Board of Polymetals Resources Ltd.
Contact information:
Alex Hanly Chief Executive Officer [email protected] +61 (0) 448 418 725
Victoria Humphries Media & Investor Relations [email protected] +61 (0) 431 151 676
For more information, visit www.polymetals.com.
Page 2 of 3 Polymetals Resources Ltd | ACN 644 736 247 Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000 www.polymetals.com | [email protected]
ABOUT POLYMETALS
Polymetals aims to become a gold production company, focusing on its two 100% owned exploration licences within Guinea’s Siguiri Basin, totalling 112km[2] .
The Siguiri Basin hosts several large active gold mining operations and is notable for its significant and widespread gold anomalism.
Polymetals’ Exploration Licences, known as Alahiné (64km[2] ) and Mansala (48km[2] ), host extensive historic and current artisanal gold production which reinforces exploration potential of the area.
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Figure 2 : Proximal gold deposits relative to Polymetals Exploration Licences.
Page 3 of 3 Polymetals Resources Ltd | ACN 644 736 247 Suite 6, Level 5, 189 Kent Street, Sydney NSW 2000 www.polymetals.com | [email protected]