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Targets Identified for Exploration at Lewis Ponds Gold Project
Targets Identified for Exploration at Lewis Ponds Gold Project
About this update from Genesis Ai Corp
[{"type":"text","content":"\nTargets Identified for Exploration at Lewis Ponds Gold Project\n\n\n Jul. 8, 2010 (Filing Services Canada) -- TriAusMin Limited  (TOR - TSX), (\"TriAusMin\" or the \"Company\"), announces that an interpretation of airborne geophysical survey data has been completed in preparation for commencement of a field programme at the Company's Lewis Ponds gold project. Lewis Ponds is located 200 kilometres west of Sydney in a re-emerging gold district at Orange, New South Wales. Data was evaluated from a 1,170 line kilometre \"VTEM\" survey conducted by Geotech Airborne Pty completed in March of this year. A total of 290 discreet anomalous responses were identified and have been grouped into 105 targets which require ground evaluation prior to drilling. It was noted that the Main and Tom's Zones, the two deposits previously discovered by TriAusMin were detected by the survey as were other known mineral occurrences at prospects including Mt. Lindsay, Shorter and Ophir. This indicates the effectiveness of the survey and confirms the importance and potential of the other targets.The Orange Gold District sees production of over 500,000 ounces of gold a year from the Cadia Hill and Ridgeway Mines operated by Newcrest Inc., hosts the recent McPhillamys gold discovery now being delineated by Alkane Resources Ltd and Newmont Australia Ltd and also hosts a number of historic gold mines at Lucknow and Ophir (the first discovery of payable gold in Australia). TriAusMin's Lewis Ponds tenement covers an area of approximately 164 square kilometres in the middle of this district centered over an important sequence of gold-bearing volcanic and sedimentary rock. The 6.35 million tonne Indicated Mineral Resource(1) grading 1.51 grams per tonne of gold, 68 grams per tonne of silver, 0.15% copper, 1.36% lead and 2.39% zinc previously delineated by the Company is an example of this style of mineralization. It remains open at depth and along strike and it is the Company's intention to expand this resource through drilling and to explore for new gold deposits within this prospective tenement. At Lewis Ponds, previous exploration and resource delineation by the Company did not focus on broad, relatively low grade deposits such as McPhillamys however significant drill core intersections of gold mineralization were encountered in these earlier programm...