The recently completed ground magnetic survey of the property has found three high magnetic intensity areas over a one kilometer distance.

Though complete results of the survey are pending, the initial review has identified a magnetic intensity greater than 78,000 nanoTeslas over an ellipsoidal surface area of approximately 750mX750m.

Drilling will be undertaken in five hole locations on the high magnetic target and at two holes close to the foreshore, once a drill permit is obtained.

The company said the drilling program will determine the extent of the mineralization at depth, the mineralogy, the contact rock and the magnitude of the resource, enabling the company to choose the most commercial mining approach.