Blaze International Limited (ASX:BLZ) has acquired an exploration licence in the Murchison District of Western Australia that is prospective for gold and base metals.
The exploration licence known as the Thundelarra tenement covers 47 square kilometres and is between Paynes Find and Yalgoo.
Previous exploration has included detailed field mapping, soil, rock chip and stream sediment geochemistry, and minor drill testing.
Follow-up work to focus on anomalies
Follow-up work will focus on geochemical anomalies generated from surface sampling carried out by previous explorers.
This will involve verification of historical data sets, field checking and re-sampling as required.
It also includes generation of targets for subsequent drill testing.
A review of historical surface samples has resulted in Blaze generating five initial targets, which include various gold and copper anomalies.
Company preparing a budget for exploration
Blaze is preparing a budget to undertake its initial exploration program.
A desktop review is expected to cost around $15,000.
Depending on the outcome of this, up to $250,000 will be allocated to exploration.
Thundelarra is the first step in the company’s strategy of building a portfolio of gold exploration interests.