Nikos Explorations Ltd. ("Nikos") is pleased to announce the results of the high-resolution VTEM (Versatile Time-Domain Electromagnetic System) and magnetic airborne survey recently completed over the Borden Lake Extension by Geotech Ltd. A total of 391 line kilometers were flown to cover the Property.
The VTEM and magnetic surveys were completed in order to identify electromagnetic and magnetic anomalies that may be associated with gold mineralization and to help in the geological interpretation of this underexplored area.
Results of the surveys indicate electromagnetic and/or magnetic anomalies in four areas of interest (see map at http://nikosexplorations.com/projects/borden_lake/) described below in order of priority for follow up:
- Several magnetic lineaments, one of which is interpreted to be a fault, intersect near the boundaries of claims 4260529 and 4260530. Such lineaments can reflect structures that are known to be important in the transport of gold-rich fluids. A north-east south-west lineament, apparent on a shaded relief map of the region, also crosses the Nikos claims in this area giving further reason for follow up.
- Cross cutting NNW-SSE and NE-SW trending positive magnetic anomalies in claim 4259808 may represent major structures. There are also coincident weak electromagnetic anomalies that could indicate the presence of sulphide.
- Similar cross-cutting magnetic anomalies and electromagnetic anomalies seven to eight hundred metres east of 2, but not as strong.
- This area in the east of the property is characterised by a small positive magnetic anomaly with a coincident electromagnetic anomaly.
Nikos is planning a follow up program of mapping, sampling and prospecting to investigate the cause of the anomalies.
About Borden Lake Extension:
The Borden Lake Extension property lies immediately east of Probe Mines' Borden Lake gold property where recent exploration has defined pit constrained indicated resources of 3,686,000 ounces of gold (112,844 M tonnes grading 1.02g/t gold) and inferred resources of 625,000 ounces of gold (18,036 M tonnes grading 1.08g/t gold) at a 0.5g/t cut-off grade.
Source: http://www.nikosexplorations.com