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Gold Mineralized Zones at Signature’s Lingman Lake Property Respond to Geophysical Survey
TORONTO, May 02, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) ("Signature" or the "Company") is pleased to announce that prelimina
About this update from Signature Resources Ltd.
[{"type":"text","content":" TORONTO, May 02, 2018 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV:SGU) (OTCQB:SGGTF) (\"Signature\" or the \"Company\") is pleased to announce that preliminary interpretation of the recently completed Terraquest airborne geophysical survey shows that the gold mineralized zones at Lingman Lake display correlation to both the magnetic and electromagnetic components of the survey. In April of 2017, the Company staked an additional 9,280 hectares along the greenstone belt. The results of the geophysical survey strengthens the original thesis, which led the Company to stake an additional 3,099.2 hectares as announced on April 30, 2018. Jeremy S. Brett of MPH Consulting Limited states, “Magnetic and digital Matrix VLF-EM data were acquired using a 50 meter line-spacing and a ground clearance of 70-80 meters. The final airborne data was compared with historical drilling and mining data for the property. The airborne data was high-quality and very suitable for gold exploration. Known gold mineralization in East-West vein systems at the Lingman Gold Zone are clearly associated with strong VLF conductors in two of the VLF Channels used. Approximately 16 kilometers of Priority Target Horizons for gold mineralization have been identified, based on the Magnetic and Matrix VLF-EM data, using a model of VLF conductors coincident with the contacts of linear magnetic bodies within the known volcanic rocks. Further interpretation work is underway to determine the potential for structures away from the main target zones”. An image of the reconstructed total field magnetics from the airborne survey is presented below highlighting key areas identified: Airborne Geophysical Compilation – Reconstructed Total Field Magnetics “We are very excited by these results. The correlation of the Lingman Lake gold zones to Magnetic and VLF-EM components establishes a signature, which can now be applied across the entire Lingman Lake property. We already have 12 high priority targets identified in the 16 kilometer trend and the potential for identifying targets outside this trend is very high. Furthermore, the survey clearly demonstrates that the structures associated with gold mineralization within the immediate mine area at Lingman Lake extend beyond current known limits. The next step would be follow-up on these extension to isolate dr...