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Aviva Corporation completes aerial magnetic survey at West Kenyan gold project

Wednesday, August 11, 2010 Perth-based Aviva Corporation (ASX: AVA, BSE: AVIVA) has reported the completion of a second high–resolution airborne geophysical survey over its West Kenyan project, where it is exploring for gold and base metals.

The survey follows the recent signing of the West Kenya Joint Venture Agreement with Lonmin Plc (LON: LMI) subsidiary AfriOre.

Under the terms of the JVA, which was signed July 15 2010, Aviva can earn up to 75% of the project which comprises two contiguous licenses over some 2,800km2 of the prospective Ndori Greenstone belt.

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The survey comprised some 26,000 line kilometers and will be spliced together with data from the recently completed Heli-VTEM/ magnetic surveys and historical Heli-Magnetic / Radiometric survey data to provide complete and seamless 100m resolution magnetic coverage of the 2800km2 West Kenya Project area.

Magnetic data will be used in conjunction with geological mapping to provide an integrated tectono-stratigraphic and structural framework for the Ndori Greenstone Belt.

The company said the information will be the key to understanding the structural controls to gold mineralization in the belt and will assist with prioritization of existing targets and definition of new structural / magnetic targets.

Lindsay Reed, CEO, said “the VTEM survey which covers less than 5% of the license area is bringing up targets that will be investigated in a 3000m diamond drilling program commencing in the December quarter.”

“The magnetic survey will increase high resolution coverage over the entire license area and will be key to generating targets for a large RC/RAB program early next year," Reed said.

Radiometric and remote sensed data sets (e.g. Aster, Landsat 7 and ALOS) will be used to assist with regolith mapping and interpretation. The regolith data is important for interpretation of geochemical programs and existing geochemical data for target generation.

Previous work in the area has highlighted the mineral potential of the area and resulted in the identification of a number of significant gold and base metal prospects.

US based Fathom Geophysics has been engaged to complete an interpretation of the data in which is due for completion in late August.

Aviva is well funded, and is developing a pipeline of energy and metal projects both in Africa and Australia.

Aviva also has an interest in two coal-based energy assets – the Mmamantswe project in Botswana, and the Coolimba Power and Coal project in Western Australia.

The company had A$3,788,000 cash at the end of the last quarter. Aviva shares last traded at 9.8 cents.

http://www.proactiveinvestors.co.uk/companies/news/19911/avi…
 
aus der Diskussion: ....gute Projekte mit spitzen Aussichten !!!!
Autor (Datum des Eintrages): Dicker69  (06.09.10 21:54:29)
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