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Puddle Pond Resources Inc. (PPR) of Stephenville, NL is pleased to announce the final report on the Airborne ElectroMagnetic (AEM) geophysical survey completed by Geotech Ltd. of Aurora, ON has identified 14 targets recommended for drilling follow-up. This survey over the Horn Mesher and MolyPeak (HM-MP) Project pin pointed targets based on the strong correlation between high electrical and magnetic responses.
Geotech’s interpretation and modeling of these coincident responses discriminated the 14 targets as being true bedrock conductors, rather than surficial conductors produced by conductive overburden. Follow-up prospecting and ground truthing surveys carried out, prior to completion of the 2011 field program, at several of the high priority ranked targets, has further confirmed a bedrock source with the discovery of sulphide mineralized, highly rusty (gossanous) outcrop.
The clear definition of the electrical and magnetic responses allowed Geotech to accurately model the geometry and depth to source of these responses and to precisely fix drill collar locations recommended for follow-up drill testing of the 14 targets. The HM-MP Project is situated in the Tulks Belt of central Newfoundland where geophysical surveys have proven successful in assisting with the discovery of Volcanogenic Massive Sulphide (VMS) deposits containing the same type of zinc-silver enriched mineralization found on the HM-MP project.
The company is particularly encouraged with these results as they have identified previously untested drill targets and further demonstrate the mineral potential well established in this area of the Tulks Belt. The recognition of multiple targets also fits the mineral deposits setting of this highly prospective volcanic belt as there are a cluster of VMS deposits identified on an adjacent property and situated within 2-3 kms east of the project.
PPR Chairman and CEO, Mr. Len Muise advises this latest information from the 2011 work program will greatly benefit the planned 2012 program. To assist with the ongoing exploration program, Geological Consultant Baxter Kean, P. Geo. has commenced a 43-101 compliant evaluation of the project, scheduled for completion in March, 2012. Mr. Kean has an extensive knowledge of this belt of rocks as he carried out both regional mapping and mineral deposit studies in the belt with the Geological Survey of Newfoundland and Labrador.
Industry consultant, Victor A. French, P.Geo., Vice President of Exploration for Puddle Pond Resources and a qualified person as defined by National Instrument 43-101 reviewed the scientific and technical information contained in this news release.