Marengo holds three exploration licences located approximately 200 kilometres south of Booraloola in the Northern Territory, where the target is unconformity hosted uranium - gold mineralization (Coronation Hill style) along the Fish River Fault.
The main target is a 6 kilometres long linear magnetic anomaly, which has in parts a coincident electromagnetic anomaly. This direct drill target has never been tested and geophysical modelling indicates a shallow depth to target of approximately 50 metres.
Marengo intends to commence drilling on this project in the second half of 2005.
I hold Mgo, DYOR
MGO Price at posting:
0.0¢ Sentiment: None Disclosure: Held
