AM Gold Inc. is pleased to announce that it has entered into an agreement with Geotech Ltd. of Aurora, Ontario to conduct a combined Z-tipper Electromagnetic (ZTEM) and Cesium-magnetometer survey of its Pinaya and Minas Lucho properties located in Southern Peru.
The ZTEM survey is an airborne passive geophysical system with reported superior exploration depth (up to kilometers in depth) measuring resistivity and conductivity contrast features of the sub-surface. Using naturally occurring electromagnetic fields of the Earth, the ZTEM system measures the electrical response of the imaged area to greater depths using lower frequency channels and has the ability to penetrate conductive cover often associated with mineralized systems, which frequently limited geophysical investigations of the past. The combined magnetic/ZTEM system has been successfully used in mapping porphyry and skarn deposits worldwide and has garnered attention of the exploration community with the ability to demonstrate in greater detail the subsurface geology and mineralization in 3-dimensional representations.
The survey at AM Gold’s 100% owned Pinaya property will appraise the entire 19,200 hectare land position testing new exploration targets across the property while expanding and validating the results of ground-based geophysical surveys previously conducted only in close proximity to the resource zone. The survey of the entire 2,400 hectare Minas Lucho property will follow-up on earlier geological, geochemical and remote sensing studies that have identified several prospective areas for Au/Cu mineralization similar to Pinaya occurrences.
Changes to the Board of Directors
AM Gold further announces that the Board of Directors has accepted the resignation of Michael Scholz as both a Director of the Company and as non-executive Chairman of the Board of Directors. AM Gold has elected not to fill the vacancy on the Board of Directors, nor the position of non-Executive Chairman at this time.
The Board would like to thank Mr. Scholz for his many years of service to the Company.