Gold Lion Resources (CSE: GL) this morning released the results of a 3D array IP geophysical survey conducted on its Erickson Ridge property. The survey successfully revealed a surface chargeability anomaly, consistent with known historical mineralization on the property.
The chargeability is said to be “strongly coincident” with historical data on the property, which consists of gold bearing disseminated pyrite. Meanwhile, the resistivity data from the survey defines the 3D location for the Top Ten Fault, which the company has classified as an important structural control on the property.
Also notable from the geophysical survey, is that a second large anomaly was discovered on the property. This large anomaly occurs at depth within the hanging wall of the Top Ten Fault, providing the company with another high priority drill target for this years drill season.
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A maiden drill program is currently in the late stages of being approved on the property, with 62 drill sites currently selected for drilling. Upon approval and bond payment completion to the Nez-Perce National Forest, the company will be able to proceed with the program.
“The newly discovered chargeability target on Erickson Ridge presents a compelling opportunity for additional mineralization on the Property. The association of high chargeability with known near surface mineralization demonstrates the suitability of IP for this particular Property, in which the gold mineralization occurs with disseminated pyrite. We look forward to drill testing the area of historical mineralization and the newly discovered high chargeability target once permits are received from the United States Forest Service.”
Oliver Friesen, CEO of Gold Lion
Gold Lion Resources last traded at $0.27 on the CSE.
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