Perth, Feb 13, 2006 AEST (ABN Newswire) - Three new exploration licences (ELs) granted to Southern Gold Limited (ASX: SAU) enables priority copper gold uranium exploration to commence for Olympic Dam style deposits in the Lake Torrens and Streaky Bay project areas. These areas were selected as highly prospective with gravity targets and geological settings similar to those revealed by the Prominent Hill and Carrapateena discoveries.
Lake Torrens Project (EL 3513 and EL 3515)
Two EL's cover 1,500km2 of the highly sought-after region immediately southeast of the Carrapateena discovery intersection of 178m at 1.83% Cu and 0.64g/t Au.
The Lake Torrens Project tenements cover a major gravity ridge running parallel to and 20km to the east of the gravity ridge which hosts the Carrapateena copper/gold discovery (Figure 2). Six new gravity targets of similar amplitude and size to the Carrapateena signature are identified with the same interpreted setting. Southern Gold is actively refining the gravity targets, based on the Carrapateena model, in preparation for field testing
Streaky Bay Project (EL 3512)
Southern Gold has also been granted EL 3512 covering 905 km2 in the Streaky Bay area. The project area covers an uplifted block of mafic Hiltaba Suite granites on the south west margin of the Gawler Craton. The regional potential for Olympic Dam style deposits was recently recognised and pegged in competition with other explorers.
A number of high magnitude gravity anomalies have been identified and are currently being assessed for follow-up definition and drill testing. In addition, the tenement covers a portion the Robinson palaeochannel that has unexplored potential for uranium.
The information in this report has been compiled by Stephen Biggins who is a member of the Australasian Institute of Mining and Metallurgy and is bound by and follows the Institute's codes and recommended practices. He has a minimum of 5 years experience in the types of activities being reported.
Contact
Kevin Skinner
Senior Consultant
FIELD PUBLIC RELATIONS
231 South Road
MILE END SA 5031
Tel: (08) 8234 9555
Fax: (08) 8234 9566
Mob: 0414 822 631
kevin@fieldpr.com.au
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