Magnus International Resources is currently undertaking a detailed ground geophysics survey on the Huidong gold exploration project to follow up on highly anomalous gold-in-soil areas.
The geophysics program includes IP/Resistivity, magnetics and Time Domain EM (TDEM) surveys which are being conducted by Logantek Pty Limited ( Sydney , Australia ) and the Baoding Geophysical Exploration Bureau (GEB) in Hebei , China . The surveys are using modern western geophysical exploration instruments and sophisticated processing and interpretation software. Preliminary results from the IP/Resistivity surveys have indicated a strong IP chargeability anomaly in the Huidong East target area, which is typical of carbon-bearing (graphitic) sediments. The Huidong Project is located in an under-explored, yet geologically fertile region of Sichuan Province , China . The Huidong Project covers 83.29sqkm situated adjacent to world-class gold discoveries of South-western Resources' Boka Gold Project. To date, the Boka Trend has yielded 12 known significant gold mineralization zones over a 25km plus corridor, and South-western Resources recently reported a current combined indicated and inferred resource at the Boka project of more than 5 million ounces of gold, which is expected to grow as drilling continues. Huidong's gold-in-soil anomalies and similar shear zones suggest that the Boka Trend continues onto the Huidong property. South-western has confirmed the "positive association between mineralization at the Boka Gold Project and gold-in-soil anomalies." Carbon-bearing zones at depth are characteristic of the gold-rich shear zones at Southwestern's Boka gold system, located to the south of Huidong. There also are documented gold-enriched soils above the Boka gold system coincident with the carbon-bearing graphitic zones at depth. The coincidence at Huidong of carbon-rich zones indicated by the IP geophysics results and the gold found in rock and soil samples at surface in the same area provides drilling targets that will be investigated during the planned drilling program which are due to begin this month. Magnus International Resources is engaged in the acquisition, exploration and development of mineral properties in China . Magnus currently retains a potential 90% interest in two Sino-foreign gold joint venture exploration projects. The Huidong property is northwest of and on trend with Southwestern Resources' Boka gold project. The Mangshi project is located within the 40km Luxi Gold Belt in western Yunnan province. The company has also acquired an option to purchase 30% of what is potentially one of China 's largest high-quality titanium properties, at Xixia in Henan Province . |