Mutiny Gold unearths new discovery at Bligh

Mutiny Gold Ltd (ASX: MYG) has continued the development of what it believes is becoming a significant gold project in the Murchison region of Western Australia.
Recent MMI geochemical testing on the portions of the Bounty Zone have confirmed a new exploration discovery called “Bligh”.
The Bligh prospect adds to the potential for significant mineralisation of the Bounty Zone, where grades to date are similar to those achieved by ASX listed Silver Lake Resources (ASX: SLR) at the Genesis and Exodus gold discoveries 5km to the south.
In December 2009, Mutiny undertook a soil program at the Bounty Zone, within the White Well Gold Project, utilising the MMI assaying technique.
The purpose of this testing was to identify additional mineralisation and drill targets within the Bounty Zone, identified by Mutiny in late 2009 as having a 400,000 to 750,000 oz gold mineralisation target with grades predicted to be between 2-3 g/t.
With the MMI results now received Mutiny will prepare an exploration program to further test the mineralisation at the Bligh Prospect within the Bounty Zone.
The sampling in the south targeted interpreted BIF horizons defined previously from Total Magnetic Intensity interpretation.
These BIF units are a significant host to mineralisation throughout the Tuckabianna Belt, a belt that is host to over 1,000,000 oz gold in both resources and historic production.
The BIF units in the south appear to be an important factor in the newly discovered Genesis and Exodus prospects defined by Silver Lake Resources Ltd only 5km to the south of the White Well tenement.
Grades reported from both these prospects by Silver Lake Resources Ltd included 9m @ 1.8 g/t from Genesis and 6m @ 1.70 g/t from Exodus, it is these grades that Mutiny remains confident of replicating with further testing of the anomalies.

http://www.proactiveinvestors.com.au/companies/news/6298/mutiny-gold-unearths-new-discovery-at-bligh-6298.html