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Geophysical Modelling strengthens drill ready Exploration Targets KB01 and KB05

Geophysical Modelling strengthens drill ready Exploration Targets KB01 and KB05

Highlights:

  • Electromagnetic (‘EM’) and Magnetic Modelling has been completed for Exploration Targets KB01 and KB05 on Laconia’s 100% owned, Kraaipan Gold-Nickel-Copper-PGM Project, southern Botswana.
  • Results of the geophysical modelling are interpreted to strengthen the prospectivity of these exploration targets and drill holes have been planned.
  • Magnetic modelling of KB01 and KB05 indicate the causative sources of the EM anomalies coincide with areas of decreased magnetisation which could be indicative of pyrrhotite/pyrite altered Banded Iron Formation rocks associated with gold mineralisation (i.e. Hill 50, Westralia, Bounty).
  • KB01 and KB05 are also associated with kilometre-scale gold anomalous zones.
  • Several other EM targets and/or gold/nickel-copper-PGM anomalies are also being considered for drill testing.
  • Planning is progressing well for the drilling program to test the best geochemical/geophysical targets commencing in early November

Laconia Resources Limited (‘Laconia’ or ‘Company’) (ASX: LCR) is pleased to announce that Electromagnetic (‘EM’) and Magnetic Modelling have been completed for exploration targets KB01 and KB05 on its 100% owned Kraaipan Gold-Nickel-Copper-PGM Project (‘Kraaipan Project’ or ‘Project’) in southern Botswana (Figure 1). The positive results from this geophysical modelling have been interpreted to strengthen the prospectivity of these exploration targets. As a result, targets KB01 and KB05 have been ranked as Highest Priority and drill holes have been planned. Laconia plans to drill test these exploration targets in November-December this year.

Laconia’s CEO Dr Quinton Hills said: ‘The fact that targets KB01 and KB05 are supported by both the geophysical modelling and soil geochemical results, indicates that these targets are highly prospective and we are looking forward to drill testing them in November.’

Please read the full announcement here.