viewNelson Resources Ltd

Nelson Resources will use survey results to plan drilling at Socrates Gold Project

The company is focused on identifying, delineating and developing viable gold resources in WA's Eastern Goldfields.

Gold table of elements tile
Socrates project lies 155 kilometres southeast of Kalgoorlie and 110 kilometres northeast of Norseman

Nelson Resources Ltd (ASX:NES) expects to use upcoming survey results to plan follow-up reverse circulation drilling to further test and delineate the scale of gold-bearing mineralisation at the Socrates project southeast of Kalgoorlie in WA.

The company recently engaged Wireline Services Group to conduct downhole televiewer surveys on 15 holes with about 2,174 metres being surveyed at Socrates.

These surveys are designed to delineate the structural orientation and classification of the gold-bearing mineralisation and include optical scanning, acoustic scanning, magnetic susceptibility, natural gamma, density and conductivity.

The company expects to receive the results of the survey later this quarter.

READ: Nelson Resources boosts board with technical and financial experience

Project locations excluding the Fortnum project

New tenement applications

During the March quarter Nelson applied for three new tenements totalling 142 square kilometres.

These are Bullen North and Bullen South within the Peak Hill Mineral Field, 140 kilometres northwest of Meekatharra, and Bullen West, which is about 14 kilometres southwest of the Fortnum Mining centre, in the locality of Billara Bore.

The Fortnum tenement applications are 8 kilometres south of the Fortnum gold mine and data compilation has identified several targets prospective for gold mineralisation.

Yarri drilling

Also in the quarter, Nelson completed a 4,091 metre RC drilling program at the Yarri project that carried over from drilling undertaken in the December 2018 quarter.

This drilling was conducted at the Wallaby and Gibberts prospects with drilling completed at Great Banjo prospect in the previous quarter.

Best results from Wallaby include:

  • 3 metres at 12.76 g/t gold from 61 metres;
  • 5 metres at 2.3 g/t from 82 metres;
  • 4 metres at 2.24 g/t from 41 metres; and
  • 3 metres at 2.44 g/t from 37 metres.

Best results from Gibberts prospect was 2 metres at 2.48 g/t from 27 metres.

READ: Nelson Resources applies for new exploration tenements in the eastern goldfields

In January 2019 the company applied for two new tenements, Grindall and Redmill, in the vicinity of its Socrates project.

During the March quarter at the granted Grindall tenement the company continued its desktop review of an extensive data set.

It also began reopening historical bush access tracks that have become overgrown.

At the pending Redmill tenement, Nelson is undertaking a desktop review of an extensive data set.

This project was previously called Theofrastos when it was held in a JV between Sipa Resources Ltd (ASX:SRI) and Newmont Mining, now called Newmont Goldcorp Corp (NYSE:NEM).

Interestingly, these companies spent around $2.6 million on exploration on Redmill.

Quick facts: Nelson Resources Ltd

Price: 0.05 AUD

Market: ASX
Market Cap: $5.28 m

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