Spectrum Rare Earths Ltd (ASX:SPX) has made progress in completing field geophysical programs over the Whaleshark Project in the Pilbara.
Electromagnetic surveying has revealed a strike extensive anomaly at the prospect, coincident with gold bearing sulphide mineralisation.
The Whaleshark prospect is being explored for gold and copper mineralisation.
Spectrum has made progress in advancing the development of existing and multiple new drill targets.
Exploration targets historical gold bearing region
The anomaly identified by the company presents within and below known historical gold bearing sulphide mineralisation.
This has prompted spectrum to hypothesise that sulphide and related gold mineralisation is strike extensive along the high amplitude magnetic anomaly.
Further data processing is underway with a view to completion prior to the next phase of ground geophysics.
The company is also anticipating the grant of Licence E08/2972 which borders the Whaleshark prospect.