Koonenberry Gold Limited Reports the Preliminary Results of the EM Geophysical Survey At the Atlantis Au-Cu Prospect
a coincident IP (Induced Polarisation) response from the EM survey which may come from disseminated sulphides in bedrock. The survey also confirmed that this portion of Atlantis is not a Volcanogenic Massive Sulphide (VMS) target as no strong EM conductor was identified. As the
siltstone is flooded by silica alteration in many places and is chert at peak silica, coupled with Au-Cu in outcrop overlaying the conductor, the target Geological Analogue is Orogenic Gold (e.g., +5Moz Magdala Deposit - Stawell Gold Mine). Importantly, the gold in soil anomaly, multi-element pathfinder contours and the late-time EM image (red component) are all co-incident with a fold hinge mapped (by the Geological Survey of NSW), with
the EM conductor on the southern limb. This limb may represent a dilational structure or increased structural complexity for mineralised fluid deposition. Rock Chip Petrography: Supporting the prospectivity and EM results are the nine samples from the 2019 Atlantis rock chip program submitted for Petrographic analysis to Teale & Associates. Rock Chip Sample KB03118 (0.84g/t Au) from this analysis is fine grained, intensely silicified and contains large, possible (former) phenocrysts. This sample is important in the light of the EM survey as it supports the Orogenic Gold model (+5Moz Magdala Deposit (Stawell Gold Mine).