ERO news out this morning. Peeweena Dam gravity survey will commence on Wednesday 30 January 2013 (yesterday!).
Remember... Peeweena Dam is 70km north of Olympic Dam and 45km east of Prominent Hill with impressive historical gravity anomalies. Olympic Dam and Prominent Hill were both found by testing their gravity anomalies. ERO was 6c just 2 years ago... currently 0.7c.
“It is envisaged that the results of the new gravity survey will be available in early February and will then be integrated with other historic gravity data sets to properly define the nature of the Peeweena Dam anomaly.”
The Company has contracted Atlas Geophysics to undertake a ground gravity survey designed to validate a significant 10 mgal gravity anomaly at Peeweena Dam, (first identified by a wide spaced 7 km x 7 km region survey completed in the 1970s). All access permits and clearances for exploration personnel are now in place and the gravity survey will commence on Wednesday 30 January 2013. Confirmation of the Peeweena Dam gravity anomaly would be a highly significant result and justify a follow-up deep drilling program to test the anomaly for iron oxide, copper, gold +/- uranium (IOCGU) mineralisation. It is envisaged that the results of the new gravity survey will be available in early February and will then be integrated with other historic gravity data sets to properly define the nature of the Peeweena Dam anomaly.
Keep an eye on ERO and MXR next month...
ERO Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
