August 5, 2010

Lambina Project

Lambina Project

Raisama is the 100% owner of the Lambina Project, an iron oxide- copper-gold target in the northern Gawler Craton, South Australia.  The project comprises one granted exploration licence (previously EL3566) with an area of 353km2.  The licence was renewed in June 2011 for a further two years as licence EL4761.  The Lambina project is located on the southern margin of the Pedirka Desert, 75km north-east of Marla.

The Lambina Project has coincident gravity and magnetic anomalies that exhibit responses similar to known IOCG deposits.  The mineralisation style is similar to Olympic Dam/Prominent Hill and the recent Carrapateena discovery.  The Project has been site cleared and two high potential targets identified for drilling with two drill holes planned at each location.

Raisama has undertaken a series of geophysical surveys on the project to investigate the structure and define drilling targets with precision.  Open file magnetic data has been reprocessed and modelled.  A detailed ground gravity survey was carried out over anomalous areas with 300 stations collected at 250m spacing.  This survey highlighted a number of semi co-incident magnetic and gravity anomalies for further evaluation.  Subsequently the company carried out a magneto-telluric survey using the Spartan MT system.  Two lines were run across the EL, with a total of 50 stations surveyed at variable spacing of 400m and 800m.  The data was modelled using 2D inversion and greatly increased the structural understanding of the area.  A TEM survey was partially acquired in mid-2011.   Following assessment of the new information, the company intends to further refine its targets and finalise planning for a drilling program.

Fig 1: Lambina Project EL4761 (formerly EL 3566) – Gravity contours on TMI RTP