Coolabah Metals Limited (ASX:CBH) is pleased to announce an update regarding an airborne gravity survey conducted over the Nymagee Project, in central NSW.
Coolabah Metals Limited’s Nymagee Project has been incorporated into a larger regional scale airborne gravity survey conducted by the neighbouring tenement holders (Aurelia Metals Ltd ASX:AMI).
The airborne gravity survey covers approximately one third of the Nymagee Project tenements. The whole of EL8657, and smaller portions of EL8638 and EL8785 totalling 169 square km’s.
The Hera, Nymagee and Federation Deposits display strong positive gravity anomalies, that is interpreted to be related to alteration systems around mineralisation.
Coolabah Metals Limited are in the process of acquiring, processing and interpreting the gravity data and will update the market on the results in due course.
“Coolabah Metals Nymagee Project has noteworthy potential for hosting Cobar-type base metals and gold deposits, and lies within similar geology that hosts the Hera, Nymagee and Federation deposits.”
Cameron Provost, Managing Director of Coolabah Metals Limited
Coolabah Metals Limited Managing Director, Cameron Provost, said:
“I am delighted we have a proactive working relationship with the team at Aurelia. This collaboration enhances our systematic and intensive exploration program to identify geophysical anomalies at our Nymagee Project. We look forward to updating the market as soon as results are tabled.”
View the full announcement here.
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