Crater Gold Mining Limited announced that the helicopter borne Electro-Magnetic Survey (HEM), combined with aeromagnetic surveying, over all 5 of its Queensland based tenements at Croydon, will commence this week. The contractor engaged for the survey is New Resolution Geophysics (NRG) utilising their Airborne Electromagnetic (AEM) system XciteTM, which is a high-resolution helicopter borne time domain electromagnetic & magnetic survey. The survey is scheduled to be completed 7 to 10 days from the commencement of the survey, with interpretation results anticipated by late August this year allowing follow-up exploration to begin soon after.

The Company holds five Exploration Permits Mining (EPM) in the Croydon region of North Queensland for a combined area of 227.2 km2. The EPMs cover 5 priority aeromagnetic anomalies (A1, A2, A3, A5 and A6) interpreted from Government aerial surveys and 3 residual gravity anomalies (G1, G2 and G3) identified from a combination of Government regional ground surveys and detailed ground surveying by the Company.