Genesis Resources (ASX: GES) has reported encouraging results from the first ground Induce Polarisation (IP) survey over the Arltunga Gold Project situated in the Northern Territory and plan to conduct further exploration.
The company said Gradient Array Induced Polarisation GAIP Surveys have delineated coincident resistivity and chargeability responses associated with known historical gold workings.
The data has also highlighted potential extensions to the known workings which represent high priority follow up targets.
The Block 2 area has delineated 10 targets anomalies and Block 4 area has delineated 15 targets anomalies.
In addition a number of other anomalous zones and structures have been interpreted from the data which are considered prospective for gold mineralisation.
Pedro Kastellorizos, managing director, said "we are delighted to have received such an excellent first pass ground IP targets. Based on the results we are planning to conduct further exploration in the near term, which will include an extensive drilling programme to be undertaken by the company during the course of this year."
Resource Potentials were commissioned by Genesis Resources to assist in the planning, implementation, quality control and interpretation of gradient array induced polarisation (GAIP) surveys over the project.
The Arltunga gold project is located some 110 kilometres north east of Alice Springs and encompasses the entire Arltunga gold field.
The project comprises one Exploration Licence (EL 25238) which covers a total area of 95.2 km2.
Thirty three gold prospects have been defined at Arltunga, including the historic Claraville, Wipeout, Jenkins, Round Hill, Wheal Fortune and Magdale gold workings that in total have produced over 1,000 ounces of gold historically.
The prospectivity of the Arltunga project was confirmed during the 1990s through reconnaissance rock-chip, costean and dump sampling that yielded highly significant results that warrant further exploration.
Genesis believes that Arltunga is a highly attractive gold field given the gold is hosted in outcropping shear zone hosted quartz veins.