Multiple horizons confirmed at High Grade Metals’ Austrian gold mine

By Meagan Evans. Published at Apr 24, 2018, in Small Caps

High Grade Metals Ltd (ASX:HGM) today announced the results of a Stage 1 3D Laser Survey completed down a part of the historic mine at the Schellgaden gold prospect, in the Federal State of Salzburg, Austria.

The Stage 1 Laser Survey was undertaken as part of pre-drill planning to piece together the lateral extents of the historically mined area, and to allow 3D modelling to be undertaken.

Whilst originally a test of lateral connectivity of historically mined areas, the survey made it clear that the historic area was more complicated than that represented on available maps. It revealed indications of a deeper mined area, suggesting additional material was extracted over and above that mentioned in existing reports.

Significantly, the survey also enabled discovery of additional shaft locations, which may access deeper layers that have been mined.

Of course, as with all minerals exploration, success is not guaranteed — consider your own personal circumstances before investing, and seek professional financial advice.

Austria tenements HGM ASX

With Stage 1 having increased the scope for exploration, a stage 2 survey is in the process of being planned and will focus on both the lateral and vertical extent of the mined areas in all layers found.

HGM Managing Director and CEO Torey Marshall said: “The results suggest that the relatively flat layers at Schellgaden may replicate or repeat vertically more than historically assumed. This effectively enlarges the size of the mined area and in our view, has a positive effect on the prospectivity of the unexplored area”.

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