onlyASX Code: AIV Issued Capital
use216,202,577 ordinary shares (AIV)
Market Capitalisation
$11.24M (18 February 2022, $0.052)
personalDirectors
Min Y ng (Chairman, NED)
M rk Derriman (Managing Director) Geoff Baker (NED)
Do gmei Ye (NED)
Andrew Bald (NED)
L uis Chien (Alternate Director to Min Yang)
About ActivEX
ActivEX Limited is a minerals xploration company committed
to the acquisition, identification, and delineation of new resource
rojects through active exploration.
ForThe ActivEX portfolio is focussed n g ld copper and critical metal
pr jects, with substantial tenement packages in the north and southeast Queensland.
Suite 2, 3B Macquarie Street
Sydney, NSW 2000
admin@activex.com.au
www.activex.com.au
Phone +61 (02) 9251 9088
ABN 11 113 452 896
OPERATIONS UPDATE FEBRUARY 2022
OPERATIONS UPDATE FEBRUARY 2022
Sydney-based gold and copper explorer ActivEX Limited (ASX: AIV) ("ActivEX" or "the Company") provides the following Operations Update of Exploration Activities for February 2022
Summary and Highlights
- Field-basedexploration will commence at the Gilberton Gold Project in late March to early April 2022 subject to finalisation of a date for the Heritage survey with the Ewamian, Reverse Circulation (RC) drilling of 4,000m and Diamond Core (DC) drilling of 200m is planned in and around the Historic Mt Hogan open pit/underground mining operation and along the southern margin of the gold mineralised Mt Hogan Granite. In conjunction with the heritage survey geological mapping of the Commissioners Hill area will be completed in addition to sampling of pegmatites with elevated lithium assays as reported previously. Several historic tantalum prospects not sampled previously will be evaluated in the field and rock sampled.
- The Company is planning initial field-based exploration at its 100% owned Georgetown Gold and Lithium Project commencing in April. The initial work will involve geological mapping and surficial geochemical exploration - rock and stream sediment sampling.
- The Company has converted its 49% equity in the Ravenswood Gold Project to 2,000,000 fully paid ordinary shares in listed Ballymore Resources (ASX: BMR) who have an active exploration program planned for 2022
- The Company realised $3,000,000 from the sale of its Cloncurry Project to unlisted explorer Fetch Metals who are planning to list on the ASX in the first half of 2022.
- Rockland Resources, 51% JV partner in the Pentland Gold Project, is currently developing an exploration plan for 2022 to advance several porphyry copper gold targets. .
1 l Ph (02) 9251 9088 l www.activex.com.au
For personal use only
OPERATIONS UPDATE FEBRUARY 2022
Figure 1. ActivEX Limited Queensland Projects and tenements
2 l Ph (02) 9251 9088 l www.activex.com.au
onlyGILBERTON GOLD PROJECT - North Queensland (EPMs 18615, 18623, 26232 and 26307 - ActivEX 100%)
useExploration will commence for the 2022 Field Season with 4,000m of RC drilling and 200m of DC drilling on the southern margin (Figure 2) of the Mt Hogan Granite (EPM 18615) that was the focus of gold mining by Eltin Minerals in the mid-1990's. A Cultural Heritage Survey is currently being organised with the Ewamian People and contractor Eagle Drilling, who did a very good job for us in 2021 will be mobilising to site late in March 2022.
A detailed study of the metallogenic of the region between Georgetown and Gilberton was completed by personalMorrison et al in 2019 that highlighted seven metallogenic camps within the Gilberton Gold Project.
Figure 2 shows the distribution of the metallogenic camps in addition to solid geology, structure and mineral occurrences (yellow dots). The focus of the drilling in June will be the Mt Hogan Mesozonal metallogenic camp and the site of the most significant gold production within the project. The Companies exploration goal is to actively explore all the metallogenic camps based on the overall prospectivity analysis completed to date.
Exploration by ActivEX over a number of field seasons has highlighted the close association between anomalous gold and lead as shown in Figure 3 whereby Niton pXRF Pb in soils defined a clear anomalous zone along the southern margin of the Mt Hogan Granite associated with highly anomalous Au in rock samples in excess of 5g/t. The underexplored southern margin of the Mt Hogan Granite will be AIV's initial 2022 focus will be to explore the down dip and along strike potential between Mt Hogan and the Charlies South Prospect in addition to extending that exploration search to the east and west along the southern margin of the Mt Hogan Granite. In addition, deeper drilling to 150m will explore for further flat lying mineralised lodes in the vicinity of the historical Mt Hogan open pit. A small program of diamond drilling will be aimed at getting a better understanding of the mineralised lodes.
ForGiven the gold focus at Gilberton there are several unexplored historic tantalum occurrences that will be evaluated for tantalum and possibly lithium potential.
3 l Ph (02) 9251 9088 l www.activex.com.au
For personal use only
OPERATIONS UPDATE FEBRUARY 2022
Figure 2. ActivEX Limited Mt Hogan Au exploration areas highlighted as metallogenic camps (After Dr Greg Morrison
et al 2019 - Metallogenic Study of the Georgetown, Forsyth and Gilberton Regions of Nth Queensland)
4 l Ph (02) 9251 9088 l www.activex.com.au
For personal use only
OPERATIONS UPDATE FEBRUARY 2022
Figure 3. ActivEX Limited Mt Hogan Au in rock sampling assay results and Pb in soils read by the companie's pXRF
instruments.
5 l Ph (02) 9251 9088 l www.activex.com.au
This is an excerpt of the original content. To continue reading it, access the original document here.