GEO Exploration (AIM:GEO) investors found inspiration from an early stage report from Western Australia, with the shares rising 18.6% to 13.6p, after it completed initial field reconnaissance at the Gorge Project.
The explorer said the work followed airborne LiDAR, aerial photography, magnetic and radiometric surveys completed ahead of schedule and comprised validation of historical geochemical results, confirmation of historic workings and drill locations, geological mapping and orientation soil geochemical surveys to refine the design of a broader geochemical programme.
"Momentum continues to build as we move through a disciplined, systematic exploration process ahead of our maiden drilling campaign," Omar Ahmad, Chief Executive Officer of GEO Exploration Limited.
The Gorge licence E08/3737 lies about 110km west of Paraburdoo in the Proterozoic Capricorn Orogen, was acquired through GEO’s 100% owned subsidiary Gorge Gold Pty, and has historical rock chips to 134 g/t Au, soils to 233 g/t Au and multiple near-surface nuggets ranging from <2g to in excess of 100g.
The company says the field data will now be reviewed and interpreted by its technical team and that shareholders can expect further updates on the reconnaissance findings and interpretation in due course.
