TORONTO, CANADA – (May 21, 2015) – Cogonov Inc. ("Cogonov" or the Company) and (“Tejas Gold Company”) are pleased to report on recent progress for the Farmington Exploration Project in Nova Scotia.
As reported on May 6, 2015, Geotech Ltd. (Geotech) completed the airborne VTEM and magnetic survey in January 2015, the results identifying 2 large VTEM conductors in addition to 12 individual AIIP anomalies. Upon receipt of the final report, the digital database was submitted to Minotaur (Australia) for additional processing, interpretation and recommendations. Regarded as experts, with a track record of locating blind mineral deposits in Australia, Minotaur’s strength is their analytical approach to the processing of geophysical data. Once a target is identified, conductivity depth inversions (CDI’s) are performed on the EM decay profiles to enable the depth, dip and extent of the targets to be determined.
The report from Minotaur has been received, the results identifying 4 highly prospective VTEM targets, FVT2, FVT6, FVT12 and FVT13 as shown below in Figure 1. 2 additional medium priority targets were also highlighted with all targets recommended for detailed ground geophysics after validation.
Minotaur also leverages the magnetic data as shown in Figure 2, where the VTEM targets are plotted overlying modeled, reduced to pole (RTP) magnetics. Enabling easier interpretation, the RTP data assists the geologists in mapping the geological units, especially in areas such as Farmington where outcrop is scarce. At Farmington, this processing technique has highlighted a major WNW trending structure (red dashed line) and some possible parallel features to the south in addition to subordinate cross faults trending in a northwest direction. Faults, being a major conduit for hydrothermal activity and fluids, are a prime exploration target, especially when coupled with features such as soil or rock geochemistry.
Mr. Gary Lohman, B.Sc., P.Geo., Cogonov COO and a Qualified Person under NI 43- 101 has reviewed and approved the technical portion of this news release.