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Medallion Completes Helicopter Geophysical Survey Of Amazing Grace Gold Property
TSX-V: MDL VANCOUVER, June 24 /CNW/ - Medallion (TSX.V: MDL) announces that Aeroquest Limited of ...
About this update from Gamma Resources Ltd.
[{"type":"text","content":"\n\n\n\nTSX-V: MDL\n\n\nVANCOUVER, June 24 /CNW/ - Medallion (TSX.V: MDL) announces that\nAeroquest Limited of Mississauga, Ontario, has completed the helicopter\ngeophysical survey of the Company's Amazing Grace gold-exploration property\n(the "Property"), located 15 kilometres southeast of Castlegar, British\nColumbia. The property comprises 17 Crown mineral claims covering\napproximately 4867 hectares (48.67 square kilometres). Exploration logistics\nin this area of British Columbia are excellent and forestry roads provide good\naccess from a nearby paved highway.\n\n\nThe first-phase gold-exploration program includes the helicopter\ngeophysical survey and extensive detailed geological mapping and sampling. The\nhelicopter survey, using Aeroquest's AeroTEM II / mag system with gamma-ray\nspectrometer, provides time-domain electromagnetic, magnetic and radiometric\ndata. The survey is specifically designed to locate and project the key\nstructural controls for the gold mineralization and the results are expected\nto immediately benefit the exploration program. The initial results of the\nsurvey are a series of enhanced maps of the data, with interpretations, which\nindicate structure and rock types. This information is being incorporated into\nthe present field geological studies. The entire 48-square-kilometre Property\nwas covered by the helicopter survey at a cost of approximately $125,000.\n\n\nThe geological mapping and sampling field program is subcontracted to\nCoast Mountain Geological Ltd, which deployed its field crew in early June.\nThis work is concentrating on the Maud-Meister target. A reconnaissance is\nalso in progress over the entire Property, which contains four additional\ntargets. The Maud-Meister target lies along an extensive\nnorth-northwest-trending structural zone and includes the formerly producing\nMaud S gold mine, the Meister prospect and the roughly 300-metre zone that\nlies between the two. Mineralization consists of gold, with minor sulfide\nminerals, in multiple vein sequences and in altered wall rock. The gold of the\nknown occurrences is typically coarse and free. The target is open to the\nnorth and south within over four kilometres of favourable geological\nstructure. Up to 2,000 rock and soil samples will be collected during this\nprogram.\n\n\nThe goal of the first-phase gold-ex...